Tag: Social Security Report shows uptick in 75 year deficit no change in trust fund depletion date.
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…