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A Brief Comparison of Basic Financial Projections Affecting Social Security Trust Funds Since 2000 (PDF)
Office of the Chief Actuary, U.S. Social Security Administration [SSA]
May 12, 2015 Actuarial Note No. 157, 6 pages. "[The] recession [which began at the end of 2007] has greatly diminished revenue and has somewhat increased the cost of the [Disability Insurance program] on a temporary basis. These recession effects led to a change in the projected DI Trust Fund reserve depletion year from 2025 in the 2008 Trustees Report to 2016 currently.... [Two graphs] illustrate the degree to which GDP has fallen short of the projections released in 2001 and 2008 by the Trustees ..., CBO ..., and the President's Budgets ... Clearly, none of these entities (nor the vast majority of private forecasters) foresaw the coming recession either early in 2001 or even early in 2008." MORE >> |
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