Post Tagged with: "social security trustees"

May 2, 2012 07:37

Social Security shortfall 50% higher than reported

The program’s total unfunded obligations — $20.5 trillion according to the report — grow at an interest rate that is larger, on average, than the productivity-plus-population-growth formula that determines growth of the payroll tax base. Calculations based on micro-data sources of demographics and economic behavior suggest that the program’s long-term financial shortfall is about 50 percent larger than the trustees are letting on.