Tag: social security shortfall
New estimates make the problem sound insoluble. 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. T…
The brief’s key findings are: The 2014 Trustees Report shows little change from last year: Social Security’s 75-year deficit rose modestly to 2.88 percent of payroll. But the deficit as a percent of GDP is still 1 percent. And trust fund exhaustion is still 2033, after which payroll taxes still cover about three quarters of…