|
Weak Economy Moves Social Security Depletion Date Closer
|
|
Dean Baker,
Center for Economic and Policy Research,
3/23/2005
|
The economy’s weakness caused the trustees to revise down the cumulative trust fund surplus projected for 2013 by approximately $100 billion (adjusted for new inflation projections) compared to the projection in the 2004 report. Specifically, the 2004 report had projected 1.7 percent employment growth in 2004, actual growth turned out to be just 1.1 percent. The 2004 report had also projected a 2.4 percentage increase in real wages for the year, the actual increase was just 1.2 percent. The 2005 report also shows a somewhat worse picture for the next few years, as the economy continues to recover slowly from the 2001 recession.
|
Link to Report (PDF)
|
Pages: 1
Price: Free
Ordering Information:
Center for Economic and Policy Research
|
|
|
|
