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The 2012 Trustees Report shows a significant increase in the program’s 75-year deficit from 2.22 percent to 2.67 percent of taxable payroll and an advance in the date of trust fund exhaustion from 2036 to 2033. Why did the deficit increase? What are the implications? The increase in the deficit primarily reflects three developments: 1)…
IB_12-9 (508) The brief’s key findings are: Social Security’s 75-year deficit is significantly higher than last year’s projection: 2.67 percent of payroll versus 2.22 percent of payroll. This increase reflects the slow recovery from the recession and rising disability rolls, among other factors. The bottom line remains the same: Social Security faces a real, but…
