CBO assumes we will pay scheduled SS benefits and collect current law payroll taxes. If we implement the NW Plan for SS, we will solve all of the concerns highlighted on the cover. Federal debt held by the public will decrease for the entire period.
CBO projects a much higher SocSec actuarial gap than SSA, by 1.5 percentage points. And year over year CBO has that gap up by 0.4 percentage points.
CBO puts the difference between them and SSA primarily in different mortality assumptions plus a 0.6% difference in interest rates (p 53 footntoe 11).
CBO puts the difference between them 2014 and then 2015 half in differences in interest rate assumptions from last year and very interestingly by projecting that the percentage of all wages that are ‘covered’ will drop from 82% to 78% and that because of new assumptions about continuing and increasing income inequality.
As I pointed out on a list-serv I belong too “Maybe as a country we can do something about that”. Say maybe by MJ.ABW – More Jobs. At Better Wages.
I assume this is the Report we are talking about. It certainly is the one I am referencing. And I forgot to put page references for the 2014 to 2015 change for Social Security. Those are pages 122 and 124.
CBO assumes we will pay scheduled SS benefits and collect current law payroll taxes. If we implement the NW Plan for SS, we will solve all of the concerns highlighted on the cover. Federal debt held by the public will decrease for the entire period.
Who knew how easy it could be?
CBO projects a much higher SocSec actuarial gap than SSA, by 1.5 percentage points. And year over year CBO has that gap up by 0.4 percentage points.
CBO puts the difference between them and SSA primarily in different mortality assumptions plus a 0.6% difference in interest rates (p 53 footntoe 11).
CBO puts the difference between them 2014 and then 2015 half in differences in interest rate assumptions from last year and very interestingly by projecting that the percentage of all wages that are ‘covered’ will drop from 82% to 78% and that because of new assumptions about continuing and increasing income inequality.
As I pointed out on a list-serv I belong too “Maybe as a country we can do something about that”. Say maybe by MJ.ABW – More Jobs. At Better Wages.
http://www.cbo.gov/publication/50250
CBO: The 2015 Long-Term Budget Outlook
I assume this is the Report we are talking about. It certainly is the one I am referencing. And I forgot to put page references for the 2014 to 2015 change for Social Security. Those are pages 122 and 124.
For grins here is the launch page for the 2014 version.
https://www.cbo.gov/publication/45471
CBO: The 2014 Long-Term Budget Outlook