Friday, July 31, 2015

7/31/15 Social Security Trustees annual report

I won't bore you with the numbers.  Here are some things the report said:


Social Security’s Disability Insurance (DI) Trust Fund now faces an urgent threat of reserve depletion...

Social Security and Medicare together accounted for 42 percent of Federal program expenditures in fiscal year 2014.

Social Security’s total expenditures have exceeded non-interest income of its combined trust funds since 2010... (me-you can't pay interest to yourself-it is a phony accounting gimmick so it is worse than they say).

Under current projections, the annual cost of Social Security benefits expressed as a share of workers’ taxable earnings will grow rapidly from 11.3 percent in 2007, the last pre-recession year, to roughly 16.7 percent in 2038... (me - and yet the 'untrust' fund goes BK anyway).

Social Security’s and Medicare’s projected long-range costs are not sustainable...

In 2014, Social Security’s cost continued to exceed the combined program’s tax income...

In 2014, the combined cost of the Social Security and Medicare programs equaled 8.5 percent of GDP. The Trustees project an increase to 11.4 percent of GDP by 2035...


No comments:

Post a Comment