Tag: social security projections
CBO’s “taxable ratio” assumption is a big contributor to high long-run deficit. It turns out that the Congressional Budget Office’s assumption about a big decline in the share of earnings subject to taxation is a major driver of the agency’s very high projection of Social Security’s 75-year deficit. Let me explain exactly what t…
The Agency’s Estimates Have Tripled in 7 Years Without Any Policy Changes As a former chair of the Social Security Advisory Board’s Technical Panel, I am always interested in new projections of Social Security’s 75-year deficit. The 75-year deficit is the difference between the present discounted value of scheduled benefits and the present discounted valu…
