Social Security checks could stop being sent because of what coronavirus caused

Coronavirus has forced the U.S. economy to a screeching halt.

Because of this, there have been series consequences.

And now Social Security checks could stop being sent because of this.

Millions of Senior Citizens rely on Social Security to survive.

But due to decades of irresponsible spending, the system is on the brink of falling apart.

President Trump has made great strides towards slowing this, but due to both Democrats and Republicans dipping into the Social Security fund for many years, it is an uphill battle to save it.

And now, with coronavirus forcing nationwide lockdowns of the economy, things are becoming worse than ever before.

A new estimate now shows that the Social Security system could become insolvent by the end of the decade.

Previously, it was estimated that the program would run out of money by 2035.

But now, with coronavirus putting a strain on the U.S. economy, that model shows the system collapsing before 2030.

This is caused by tens of millions of workers becoming suddenly unemployed, and a flood of older Americans who lost their jobs beginning to draw benefits as soon as they’re eligible.

Serious work needs to be done to save the program, which will likely require the ultimate phasing out of the program over time.

But without that work, the system will collapse entirely, removing the sole income stream for millions of American Seniors.

Rep. Steve Womack, the ranking Republican on the House Budget Committee, likened the coming crunch to bailing “water from a sinking boat when you’ve got alligators nipping at you. And the alligators are Covid-19.”

“This is a train wreck that’s going to happen and you can see it coming,” he continued.

Social Security has previously faced serious strain during times of economic hardship.

Most notable was during the recession a decade ago, which resulted in a 5 percent bump in eligible adults claiming Social Security six months early.

The government predicted that the fund would run out of money in 2037 at the time, which was four years sooner than predicted before the recession.

This shows just how volatile the system is.

Younger generations are already accepting the fact that the safety net they are forced to pay into now will almost certainly no longer exist when they reach the age to receive it.

But now, many who paid into it for their entire lives, who are receiving benefits now, have to worry that those checks may stop flowing in one day soon.

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213 Responses

  1. Frankie says:

    We can complain until hell freezes over, but until somebody in Congress proposes a bill to change what is going on we’re just out of luck. Somebody needs to stand up for the people!

  2. FOREST says:

    The govt should begin to repay the money they took from it and STAY AWAY from using it for their wants
    and keep it solvent – Pelosi – STAY OUT OF SOCIAL SECURITY FOR YOUR PERSONAL BS.

  3. PJ SCHULKER says:

    ALL BORROWED FUNDS MUST BE PAID BACK ASAP ! !! ! ! ! adjustments in the age to begin receiving benefits must be increased investments must be forthcoming to prove they are not self sustaining on their own WHICH I AM NOT ! ! ! !

  4. Toxic says:

    Gee, I’m so glad I worked for 50 years, and had my body busted up doing it, so I could be homeless and starving in my old age.

  5. John.Russell says:

    Here I did a survey of 12th grade anchor children and asked how many driver’s licenses their dads had. The highest number was 17 and the average was just over 7. For each name they get significant monthly benefits including food coupons, health care, etc. All that is asked is their Democratic vote for each license. They pay no taxes because any work they do is spread out over the different names. Many get more money then I get with my single social security check. Cuts should start with California Fraud.

  6. BOB says:

    the political ruling class has used ss to enrich themselves and bribe illegal aliens to vote for them. devilcrats and republicrats are both guilty. Welfare never runs out of money and political pay plans never run out of money because they steal from the working class. It’s time for mass hangings of politicians, past and present!!!!!

  7. Kathy says:

    Years ago it was suggested that Congress would receive retirement monies/be vested in Social Security. Maybe now is the time to look at that idea seriously. Once they get threatened with losing a retirement check see how fast it will become solvent.

  8. GILBERT WEST says:

    …and the next time Marco Rubio, Moscow Mitch, etc., refer to SS as an entitlement…Someone should stand up and slap them across the face.

  9. GILBERT WEST says:

    Our so-called leaders have been raiding the Social Security Fund for decades…placing I.OU.s in it instead. Then these constant tax cuts… It just shows they never intended to pay the money back. If they would just replace what they took, sunset the most recent tax cuts, plus interest, and appoint honest over seers, that would go along way to keeping SS solvent. What are the Citizens supposed to do??? These people are no damn good, for nothing.

  10. David Kostos says:

    If Congress would stop giving billions to illegals, pet projects and voluntarely take a paycut along with no pay when they do not show up for work and use that money to help shore up social security, then maybe that would help.

  11. RICHARD BEAL says:

    congress took out the money they from their own pockets should put it back in and also no retirement for congress and retirees of our congress- presidents ever more their retirement fund put in social security and make social security a dedicated fund that can’t ever be used by anything but social security, under penalty of death

  12. ROGER DALE BOST says:

    Congress should pay back all the money they have taken from Social Security with interest not matter what
    the cost. This is money hard working Americans have paid in every week they have worked and it was not
    Congress money to dip into in the first place. This is why Social Security is not solvent, PAY IT BACK WITH
    INTEREST…

  13. LadyB says:

    Social Security wouldn’t be in this fix if our congressmen/women were forced to pay back what they’ve taken from the program. A bunch of thief’s is what we have running this country. Nothing for us everything for them. I think they should live on a $50.000 a year income, no more getting rich off the backs of hard working Americans

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