Social Security’s Financial Outlook: The 2011 Update in Perspective

  • Highlights of the 2011 Trustees Report:
    • Social Security’s deficit is still about 2 percent of payroll.
    • Deficit as a percent of GDP is less than 1 percent.
    • Trust fund exhaustion moved up one year to 2036.
  • Items of note:
    • COLA is expected to be back after a two-year hiatus.
    • Disability Insurance Trust Fund exhausts its assets in 2018.
    • Future of the employee payroll tax cut is uncertain.