Fixing Social Security Deficit Could Halve Federal Primary Deficit Amid Rising CBO Projections
Updated
Updated · MarketWatch · Apr 28
Fixing Social Security Deficit Could Halve Federal Primary Deficit Amid Rising CBO Projections
3 articles · Updated · MarketWatch · Apr 28
CBO projects federal deficits rising from 5.8% to 6.7% of GDP by 2036, with debt reaching 120% of GDP.
Alicia H. Munnell argues that eliminating Social Security’s 1.3% of GDP deficit would cut the primary deficit in half and restore public confidence.
Addressing Social Security is only part of the solution; controlling healthcare costs and gradually increasing tax revenues are also needed to fully eliminate the primary deficit.
Beyond balancing budgets, what are the hidden economic growth opportunities in reforming entitlement programs?
Is fixing Social Security the key to America's debt crisis, or a distraction from soaring healthcare costs?
A 23% benefit cut looms for millions in 2033. What is the real-world cost of political inaction?
With Social Security's fund depleting by 2033, what does retirement security look like for younger workers?
Can investing Social Security funds in the market solve its shortfalls without cutting benefits?
As 4.1 million Americans turn 65 this year, has the window for an easy Social Security fix already closed?