Tag: depletion date
The 2022 Social Security Trustees Report, which was prepared in February when the outlook for the economy looked less uncertain, shows a slight decrease in the program’s 75-year deficit from 3.54% to 3.42% of taxable payroll (see Figure 1). The depletion date for the trust fund bounced back from 2034 to 2035. What does a deficit…
But bottom line is easy: Congress needs to fix the nation’s most valuable program. The 2021 Social Security Trustees Report, which usually comes out in the spring, emerged in the last week in August. That’s not surprising given a new Administration and a somewhat more complicated story than usual. Although the Trustees assert that COVID…
