Tag: replacement rates
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…
So as to not lose my few remaining readers, I would like to wind up the discussion of Social Security replacement rates. And I think that I can do that on a positive note. The Congressional Budget Office (CBO) “flap,” where the agency admitted that it had miscalculated replacement rates, suggests two pieces of good…
