Tag: Trust fund exhaustion
Will it shift the long-run curves or accelerate the date of depletion of the trust fund? A frequent question from the press is how the COVID-19 pandemic will affect Social Security finances. (This topic was not covered in the Trustees Report released last week, as the report was prepared before the pandemic). Of course, no…
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…
