Tag: social security financing shortfall
Most is due to change in the program’s 75-year horizon. The 2024 Social Security Trustees Report showed a 75-year deficit of 3.50 percent of taxable payrolls compared to a surplus of .02 percent in 1983. While the increase in the deficit over the last 41 years is large, two-thirds of the increase was totally predictab…
Trustees Report continues to show 75-year deficits and exhaustion of trust fund in early 2030s. The 2024 Social Security Trustees Report repeats the drumbeat that the Social Security program faces a deficit equal to 3.50 percent of payroll over the next 75 years and that its trust fund is scheduled for exhaustion in the early…
