The new 2016 Social Security Report is out. Key findings:
"The dollar
level of the combined trust fund reserves declines until reserves become
depleted in 2034. Considered separately, the DI Trust
Fund reserves become depleted in the third quarter of 2023 and the OASI
Trust Fund reserves become depleted in 2035. In last year’s report, the projected
reserve depletion years were 2034 for OASDI, 2016 for DI, and 2035
for OASI."
So no change from last years report except DI is now solvent until 2023.
What about the 75-year deficit?
The open group unfunded obligation
for OASDI over the 75-year period is $11.4 trillion in present value and
is $0.7 trillion more than the measured level of $10.7 trillion a year ago.
So this is up $700 billion in one year. That is more than the national debt increased last year.
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