With talks stirring that a recession is coming, how might Social Security be affected?

Many seniors worry about their retirement as the economy worsens. But how exactly would an economic event of this type impact the program?

In the short-term future, the program would likely remain unchanged. Reserves are available until 2035 by some estimates. So retirement, as we know it today, is secure — though this doesn’t mean seniors are getting all they deserve.

But a recession can also have some long-term effects on the economy. The labor market, wages, and tax revenue could take hits, creating a domino effect that may drain Social Security faster.

Recession or not, boom or bust, we’ll be right here to fight for seniors to get fair yearly Cost-of-Living Adjustments (COLAs) and reimbursement for years skipped.

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