(The Hill) The long-term projections for the Social Security system have brightened slightly since last year, according to a Congressional Budget Office (CBO) report released Friday.
"Compared with the long-term budget projections CBO made last year, the agency’s latest projections, published in March, indicate a slight improvement in the financial outlook for the Social Security system," the report said,
A common measure of the system's condition, the 75-year actuarial balance, improved from negative 1.6 percent of GDP to negative 1.5 percent of GDP, according to the report. In comparison to taxable wages, the balance improved to negative 4.5 percent from negative 4.7 percent.
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