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“Social Security is broke beyond belief,” Laurence Kotlikoff told The Brink, Boston University's research news website. “Its unfunded liability is $65.9 trillion — twice the size of ...
The present value of unfunded obligations under Social Security was approximately $11.4 trillion over a 75-year forecast period (2016–2090). In other words, that amount would have to be set aside in 2016 so that the principal and interest would cover the shortfall for 75 years.
Section 201 of the Social Security Act requires that the money in the trust funds be invested in interest-bearing debt securities issued and guaranteed by the federal government known as U.S ...
In 2009, the Office of the Chief Actuary of the SSA calculated an unfunded obligation of $15.1 trillion for the Social Security program. The unfunded obligation is the difference between the future cost of the Social Security program (based on several demographic assumptions such as mortality, work force participation, immigration, and age ...
According to a CBS News analysis of federal data, these policies are one of the most common reasons for Social Security overpayments, which have totaled more than $450 million in fiscal years 2017 ...
The number of Social Security program recipients is expected to increase from 44 million in 2010 to 73 million in 2030. [17] The present value of unfunded obligations under Social Security as of August 2010 was approximately $5.4 trillion.
According to the 2018 annual reports from the trustees for the U.S. Social Security and Medicare trust funds, Medicare is facing a $37 trillion unfunded liability over the next 75 years, and Social Security is facing a $13 trillion unfunded liability over the same time frame. [43]
Social Security has two other funding sources: benefit taxes on some seniors and interest income earned on money in the program's trust funds. But both of those are in danger right now. The ...