2008 Social Security Balances: Projections vs. Actual
by Bruce Webb. Sorry for two posts in a day. But the raw data is important.
OAS (Old Age Survivor) starting 2008 balance $2.023 trillion
Intermediate Cost projection for year end $2.216 trillion
Low Cost projection for year end $2.221 trillion
Preliminary year end balance $2.203 trillion or up $180 billion for the year.
DI (Disability) starting 2008 balance $214.9 billion
Intermediate Cost projection for year end $218.7 billion
Low Cost projection for year end $221.3 billion
Preliminary year end balance $215.8 billion or up just under $1 billion
Total OASDI surplus for 2008: $180.9 billion
Intermediate Cost projection: $196.2 billion
Low Cost Projection: $204.0 billion
I’ll take a program that is spinning off $181 billion surpluses. But I have to say the glass is half empty here. We can expect this to translate to some deterioration in the dates for shortfall and depletion with the release of the Report this spring