Throughout the country, coronavirus cases are spiking. In fact, some public health experts are warning we may already be seeing a second wave, while others believe the first wave never ended.
This is obviously terrible news because it means hundreds of thousands of more people could get sick and even die. It’s also very bad news for the economy, as states that started to reopen reverse course, and businesses are shut down again. But as bad as the effects of a second wave could be for everyone, Social Security beneficiaries especially are at risk of facing long-term financial consequences if a second wave happens now.
That’s because this quarter is a key one that determines if the’y’ll see an increase in their benefits next year.