Government

2018 Social Security Trustees Report shows declining fiscal state of the trust.

For the 75-year projection period, the actuarial deficit is 2.84 percent of taxable payroll, increased from 2.83 percent of taxable payroll in last year’s report.

The closely-related open group unfunded obligation for OASDI over the 75-year period is 2.68percent of taxable payroll, increased from 2.66 percent of payroll in last year’s report.

The open group unfunded obligating for OASDI over the 75-year period is $13.2 trillion in present value and is $0.7 trillion more than the measured level of $12.5 trillion a year ago.

You can choose to believe what you like, but the facts are the facts. There is no surplus. All incoming taxes plus all interest payments, plus redeeming a portion of the trust bond reserve is being used to pay current benefits. Unless there is an infusion of money or a reduction in expenses the trust will be totally depleted in sixteen years.

Advertisements

What's your opinion on this post? Readers would like your point of view.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s