Unprecedented COVID-19 Fatalities Lead to a $205 Billion Increase in Social Security Funding
The unprecedented death toll from COVID-19 in the United States is setting up an unexpected boost for Social Security benefits, totaling approximately $205 billion. This enhancement arises as part of the annual adjustments driven largely by wage growth and inflation, but this year, uniquely influenced also by the pandemic’s lethal impact. In 2021, COVID-19 claimed over 474,000 American lives according to federal data. This significant decrease in the number of beneficiaries is projected to reduce …