The 2022 Social Security Trustees’ report is optimistic — and misleading ...Middle East

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The 2022 Social Security Trustees’ report is optimistic — and misleading
source : The Hill ( Middle East ) () 13
When the 2022 Social Security Trustees’ report was released last week, media coverage celebrated a slight improvement in the short- and long-term financial conditions of the program. The exhaustion date for the trust funds was moved back from 2034 to 2035 and the 75-year actuarial deficit was reduced from 3.54 percent of payroll to 3.42 percent. A deeper dig into the report, however, finds these improvements are based on an unrealistically low short-term inflation forecast and an overly optimistic long-run forecast of a fertility bounce-back. More realistic estimates explained below show that the exhaustion date will instead be 2033 and the actuarial deficit is about 3.9 percent. Th

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