The Social Security fund will have negative cash flows by 2019, one year later than system trustees' projections, and will go broke by 2052, according to a new report by the Congressional Budget Office. The fund, which is currently running a surplus, and its total outlays equaled 4.4% of GDP in 2003. Total outlays will reach 6.1% of GDP, nearly 40% higher than today, by 2030, the CBO report projects. With life expectancies continuing to rise, outlays are expected to continue rising to 6.3% in 2050 and 7% in 2100.
The Social Security fund will have negative cash flows by 2019, one...
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