Growing Social Security Deficits
Social Security will run a cumulative cash deficit of $2.9 trillion between now and 2035.
https://www.pgpf.org/chart-archive/0030_social-security-deficits-gdp
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Social Security will run a cumulative cash deficit of $2.9 trillion between now and 2035.
https://www.pgpf.org/chart-archive/0030_social-security-deficits-gdp
Social Security provides social insurance by redistributing income from high earners to low earners.
https://www.pgpf.org/chart-archive/0244_social-security-income-redistribution
The normal retirement age for receiving full Social Security benefits depends on the year of your birth.
https://www.pgpf.org/chart-archive/0245_social-security-year-of-birth
On average, Social Security benefits exceed Social Security taxes over an individual’s lifetime.
https://www.pgpf.org/Chart-Archive/0198_social_security_lifetime_benefits
As the population ages, fewer workers will be paying taxes to support each Social Security beneficiary.
https://www.pgpf.org/chart-archive/0004_worker-benefit-ratio
Low-income seniors rely on Social Security benefits for a major share of their retirement income.
https://www.pgpf.org/chart-archive/0018_social-security-low-income
Spending on the major healthcare programs, Social Security, and interest will continue to climb rapidly over the long term.
https://www.pgpf.org/chart-archive/0281_spending_to_climb_rapidly
Based on the Trustees’ projections, combined Social Security benefits could be cut by 20 percent in 2035 without legislative action
https://www.pgpf.org/chart-archive/0246_social-security-20-percent-cut
The PGPF chart pack illustrates that budget-making involves many competing priorities, limited resources, and complex issues.
Discretionary spending is projected to stay below its historical share of GDP.
https://www.pgpf.org/chart-archive/0177_discretionary_low_levels