Social Security's Financial Outlook: The 2008 Update in Perspective
AbstractThe Trustees of the Social Security system have just issued the 2008 projections for the system over the next 75 years. The report contains two surprises. First, the 75-year deficit dropped to 1.70 percent of taxable payrolls from the roughly 2 percent it has been for the last 14 years. The decline was driven primarily by a change in the way Social Security projects immigration. Although the Trustees still project that the trust fund will be exhausted in 2041, the improved outlook enables scheduled payroll taxes to cover more than three-quarters of promised benefits after that point. The second noteworthy difference between this report and earlier ones is that it has not been signed by any public trustees. But this omission reflects a failure with the political process, not with the program itself.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Center for Retirement Research in its series Issues in Brief with number ib2008-8-5.
Length: 6 Pages
Date of creation: May 2008
Date of revision: May 2008
Publication status: Published on the Center for Retirement Research at Boston College Website
Contact details of provider:
Postal: Hovey House, 140 Commonwealth Avenue, Chestnut Hill, MA 02467
Phone: (617) 552-1762
Fax: (617) 552-0191
Web page: http://crr.bc.edu/
More information through EDIRC
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statistics
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Amy Grzybowski) or (Christopher F Baum).
If references are entirely missing, you can add them using this form.