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- W36078599 abstract "All recent reports of the Board of Trustees of the Old-Age, Survivors and Disability Insurance (“Social Security”) Trust Funds project that, under the Board’s intermediate (best-estimate) assumptions, Social Security’s combined trust funds will be exhausted before the middle of this century in the absence of corrective legislation. The Trustees Report uses long-term financial projections based — at least in part — on assumptions adopted by the Board of Trustees to determine if Social Security will be financially viable over the long term. In addition, Social Security reform proposals introduced in Congress or developed by outside experts are sometimes evaluated for their potential effect on the program’s financial condition using the same or similar projection methods and assumptions. The nature and extent of any changes designed to resolve the program’s financing problem depend, of course, on the magnitude of the problem. Although the projection based on the trustees’ intermediate assumptions is generally quoted when discussing Social Security reform proposals, the range of alternative assumptions used by the trustees illustrates the considerable uncertainty about the future. Opponents of major structural reform generally believe that any perceived problem is manageable with modest changes within the current framework. Conversely, proponents of more extensive reforms often argue that the problems are serious enough to demand consideration of approaches outside the current framework. Experts outside the Social Security Administration —‐ from such organizations as the Employee Benefit Research Institute, the Brookings Institution, and the Cato Institute — have performed independent analyses of various reform proposals, sometimes including their own. These experts also use assumptions in their projections of Social Security’s financial future, and those assumptions may differ from those used by the trustees. This issue brief describes the major assumptions used in projections of Social Security’s financial condition and how variations in the assumptions affect the results. The issue brief also encourages policy advocates to disclose the assumptions underlying their reform proposals and to apply assumptions consistently." @default.
- W36078599 created "2016-06-24" @default.
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- W36078599 date "2004-01-01" @default.
- W36078599 modified "2023-09-27" @default.
- W36078599 title "Assumptions Used to Project Social Security's Financial Condition" @default.
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