Tag: Social Security finances
75-year deficit remains, exhaustion of trust fund isn’t far away. The 2017 Social Security Trustees Report repeats the drumbeat that the program faces a deficit equal to 2.83 percent of payroll over the next 75 years and that its trust fund is scheduled for exhaustion in the early 2030s. The 75-year deficit is t…
The brief’s key findings are: The 2017 Trustees Report shows very little change: Social Security’s 75-year deficit rose slightly from 2.66 percent to 2.83 percent of payroll. The deficit as a percentage of GDP remains at 0.9 percent. Trust fund exhaustion is still 2034, after which payroll taxes still cover about three quarters of promised…
