Skip to content
CRR logo
Submit Search
Advanced Search
Join E-mail List | Contact Us
  • Topics
  • Publications
  • Initiatives
  • Data
  • Sponsors
  • Opportunities
  • About Us
  • Search

Social Security’s Financial Outlook: The 2008 Update in Perspective

March 25, 2008
Share
Mobile Share Email Facebook Twitter LinkedIn

Issue Brief by Alicia H. Munnell

Introduction

The Trustees of the Social Security system have just issued the 2008 projections for the system over the next 75 years.  The report contains two surprises.  First, the 75-year deficit dropped to 1.70 percent of taxable payrolls from the roughly 2 percent it has been for the last 14 years.  The decline was driven primarily by a change in the way Social Security projects immigration.  Although the Trustees still project that the trust fund will be exhausted in 2041, the improved outlook enables scheduled payroll taxes to cover more than three-quarters of promised benefits after that point.  The second noteworthy difference between this report and earlier ones is that it has not been signed by any public trustees.  But this omission reflects a failure with the political process, not with the program itself.

social_security_5
social_security_5
Author(s)
Headshot of Alicia H. Munnell
Alicia H. Munnell
Downloads
PDF Version
Citation

Munnell, Alicia H.. 2008. "Social Security's Financial Outlook: The 2008 Update in Perspective" Issue in Brief 8-5. Chestnut Hill, MA: Center for Retirement Research at Boston College.

Copy citation to clipboard
Topics
Social Security
Publication Type
Issue Brief
Publication Number
IB#8-5
Related Articles
Portrait,Of,African,American,Multigenerational,Family,Looking,At,Camera,While

Social Security in Multigenerational Families

Squared Away Blog by Kimberly Blanton

March 7, 2023
asian down syndrome female learning from barista making coffee in her café place of work

Disability Job Programs Get Mixed Reviews

Squared Away Blog by Kimberly Blanton

February 28, 2023
banks overdraft fees

Banks Could be More Retiree Friendly

Squared Away Blog by Kimberly Blanton

November 3, 2022
About us
Contact
Join e-mail list
Facebook Twitter LinkedIn YouTube RSS

© 2023 Trustees of Boston College, Center for Retirement Research|Terms of Use|Privacy Policy|Accessibility

This website uses cookies to improve your experience. We also use IP addresses, domain information and other access statistics to administer the site and analyze usage trends. If you prefer to opt out, you can select Update settings. Read our Privacy Policy. Accept
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT