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.

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Created November 20, 2020

Source: Social Security Administration

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