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Social Security Deficits Place Large and Growing Strain on Federal Budget

Created on August 4, 2014

Social Security Deficits Place Large and Growing Strain on Federal Budget

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Read the original report, "Social Security Trustees Report: Unfunded Liability Increased $1.1 Trillion and Projected Insolvency in 2033," by Rachel Greszler and Romina Boccia.

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Sources: Congressional Budget Office, “Updated Budget Projections: Fiscal Years 2014 to 2024,” April 2014, http://www.cbo.gov/sites/default/files/cbofiles/attachments/45229-UpdatedBudgetProjections_2.pdf (accessed July 28, 2014); and Social Security Administration, The 2014 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, July 28, 2014, Table VI.G9, http://www.ssa.gov/oact/tr/2014/tr2014.pdf (accessed July 28, 2014).

CHART 1 • BG 2936

Tags: Social-Security, trustees-report, unfunded-liability, insolvency, deficit