Tag: social security shortfall
The brief’s key findings are: Contrary to media reports, the 2019 Trustees Report shows little change overall: Social Security’s 75-year deficit ticked down from 2.84 percent to 2.78 percent of payroll. Trust fund exhaustion moved out by one year, to 2035, after which payroll taxes still cover about three quarters of promised benefits. This shortfa…
My sense is that Social Security may be at risk after the November elections. Critics are writing op-eds saying that benefits – relative to previous earnings – are very high, and the Congressional Budget Office (CBO) has come out with an astounding estimate of the 75-year deficit. The stage is being set for benefit reductions.&nbs…
