First page Back Continue Last page Overview Graphics
What Is the So-Called “Social Security Crisis”?
Some politicians and analysts foresee a “social security crisis” in the sense that, given current projections, the Social Security system will:
Continue to run surpluses (add to trust fund) until somewhere between 2018 and 2028
Then, somewhere between the years 2018 and 2028 the number of retirees will grow and SS will run deficits (benefits paid will exceed taxes collected), which will draw down the trust fund.
The deficits will continue until approx 2043, when the trust fund runs out.
After 2043, total benefits will be limited to total taxes collected, possibly requiring a modest cut in benefit levels from today’s planned benefit levels.