Tag: 2020 Trustees Report
The 2020 Social Security Trustees Report, which came out a few weeks ago, showed an increase in the program’s 75-year deficit from 2.78 percent to 3.21 percent of taxable payroll. The depletion date for the trust fund remained at 2035. Since this report was prepared before the onset of the COVID-19 pandemic and shutdown of t…
The 2020 Trustees Report, which was prepared before the onset of the COVID-19 pandemic, shows an increase in the program’s 75-year deficit from 2.78 percent to 3.21 percent of taxable payroll (see Figure 1). The depletion date for the trust fund remains at 2035. What does a deficit of 3.21 percent of taxable payrolls mean?&nbs…
