Tag: trust fund depletion
![Man touching a choice concept](https://crr.bc.edu/wp-content/uploads/2024/07/Man-touching-a-choice-concept-1536x1017.jpeg)
We know what we are dealing with, and can take steps to address it. The key metric used to summarize Social Security’s financial status is the 75-year deficit. This number is the present discounted value of scheduled taxes (plus the existing trust fund) minus the present discounted value of scheduled benefits divided by the present…
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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…