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
The retirement of the large baby boom generation will sharply push up the number of people claiming benefits each year.
https://www.pgpf.org/analysis/the-social-security-trustees-report-in-charts
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
Policymakers should work together to stabilize and strengthen this important program for generations to come.
https://www.pgpf.org/analysis/trustees-warn-social-security-faces-major-imbalances
The combined Old Age and Survivors’ Insurance and Disability Insurance Trust Funds, commonly referred to as the “Social Security Trust Funds,” will be fully depleted by 2033.
https://www.pgpf.org/analysis/social-security-faces-major-financial-challenges
As a federal program, Social Security cannot be any stronger financially than the overall federal government, and looming financial problems in Social Security will have a negative impact on the Federal budget as a whole.
https://www.pgpf.org/analysis/the-financial-condition-of-social-security
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
The Trustees warn that Congress and the Administration should work "with a sense of urgency" to put the program on a sustainable path.
https://www.pgpf.org/analysis/the-medicare-trustees-report-in-charts
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
Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
https://www.pgpf.org/budget-basics/how-does-social-security-work