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What fiscal surplus?

April 26, 2017array fiscal surplus

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What fiscal surplus?

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Author InfoJagadeesh Gokhale Abstract Proposals to shore up Social Security using future budget surpluses neglect to mention that Social Security itself produces these surpluses. Moreover, the projected budget surplus is dwarfed by Social Security’s present shortfall of $7 trillion-$10 trillion, which consists of the benefits that living adults will receive minus their payroll tax payments. This shortfall represents an addition to living adults’ wealth that has encouraged greater current consumption, lowered national saving, and widened trade deficits. Download InfoTo download: If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.