Tag: social security deficit
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…
We recently constructed a summary of the Social Security proposals of the 2020 presidential candidates. As part of that process, it seemed interesting to contrast the Social Security Expansion Act, proposed by Sen. Bernie Sanders (I-VT) and Rep. Peter DeFazio (D-OR), with the Social Security 2100 Act, proposed by Rep. John Larson (D-CT), Sen. Richard…
