Social Security’s Rising Shortfall

Social Security’s shortfall has more than tripled since 2010. Filling the gap with revenue would require a 3.1 percentage point increase in the payroll tax, which would take an extra $2,160 each year from middle-class households. Congressional failure to address the unsustainable growth in spending means that Social Security solvency becomes much harder to reach with each passing year.
Created November 20, 2020
Source: Social Security Administration