Tens of millions of Americans lost their jobs due to Covid-19. Their loss of income caused problems for themselves and their families – and for the Social Security system. The problem is that the Social Security system is paying out more money to retirees than it collects from workers. You see, the money coming out of your paycheck does not fund your future retirement. Instead, your money is given to current retirees; the next generation to pay for your benefits, and the generation after that will pay for theirs.