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Social Security reform: analysis of a trust fund exhaustion scenario illustrates the difficult choices and the need for early action: statement of ... the Special Committee on Aging, U.S. Senat
by:David M Walker; United States. General
OCLC Number: 53404313 Excerpt: ... Figure 1: Social Security Workers per Beneficiary Note: Projections based on the intermediate assumptions of the 2003 Trustees ' Report. The combination of these trends means that labor force growth will begin to slow after 2010 and by 2025 is expected to be less than a third of what it is today. ( See fig. 2. )...
OCLC Number: 53404313 Excerpt: ... Figure 1: Social Security Workers per Beneficiary Note: Projections based on the intermediate assumptions of the 2003 Trustees ' Report. The combination of these trends means that labor force growth will begin to slow after 2010 and by 2025 is expected to be less than a third of what it is today. ( See fig. 2. ) Relatively fewer workers will be available to produce the goods and services that all will consume. Without a major increase in productivity, low labor force growth will lead to slower growth in the economy and to slower growth of federal revenues. This in turn will only accentuate the overall pressure on the federal budget. Page 6 GAO-03-1038T Social Security Reform
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