SUMMARY OF 2022 ANNUAL REPORTS Social Security and Medicare Boards of Trustees A MESSAGE TO THE PUBLIC: Each year the Trustees of the Social Security and Medicare trust funds report on the current and projected financial status of the two programs. The Trustees Reports include extensive information about the current operations of these important social insurance programs … [Read more...] about Summary of the 2022 Annual Report
Summary of 2021 Annual Report
Social Security and Medicare Boards of Trustees A MESSAGE TO THE PUBLIC: Each year the Trustees of the Social Security and Medicare trust funds report on the current and projected financial status of the two programs. The reports include extensive information about the current operations of these important social insurance programs and careful analysis of their outlook. … [Read more...] about Summary of 2021 Annual Report
How Will COVID-19 Affect the Social Security Trust Funds?
An economic downturn can dramatically impact Social Security’s short-run finances, accelerating depletion of reserves in the program’s trust funds. In this issue brief, we run four stress tests to illustrate how the retirement and disability trust funds would fare under several possible versions of the current recession. Before the pandemic, Social Security’s Trustees projected … [Read more...] about How Will COVID-19 Affect the Social Security Trust Funds?
Congressional Budget Office’s 2020 Long-Term Projections for Social Security
Each year, the Congressional Budget Office publishes a report presenting its projections of what federal deficits, debt, spending, and revenues would be for the next 30 years if current laws governing taxes and spending generally did not change. This report is the latest in the series. Deficits Even after the effects of the 2020 coronavirus pandemic fade, deficits in coming … [Read more...] about Congressional Budget Office’s 2020 Long-Term Projections for Social Security
Social Security: What Would Happen If the Trust Funds Ran Out?
Under their intermediate assumptions and under current law, the Social Security trustees project that the OASI trust fund will become depleted in 2034 and the DI trust fund will become depleted in 2065. Although the two funds are legally separate, they are often considered in combination. The trustees project that the combined Social Security trust funds will become depleted … [Read more...] about Social Security: What Would Happen If the Trust Funds Ran Out?