K-12 Tax & spending climate: Social Security trust funds now projected to run out of money sooner than expected due to Covid, Treasury says

Thomas Franck:

Senior administration officials said in a press briefing Tuesday afternoon that a spike in deaths among retirement-age Americans in 2020 helped keep the programs’ costs lower than projected. They added that the ultimate, long-term impact of the coronavirus is less clear as costs and revenues return to their extended forecasts.