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Trustees Reports- 1996

 

Table III.B1. - Selected Economic Variables by Alternative, Calendar Years 1995-2070
[GDP and taxable payroll in billions]

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                                        SSA                            Compound
                                    average                   Gross   interest-
                      Adjusted         wage     Taxable    domestic        rate
  Calendar year          CPI1/      index2/   payroll3/     product    factor4/
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Intermediate:
  1995.............      97.34   $24,669.85      $2,920      $7,248      0.9346
  1996.............     100.00    25,638.88       3,046       7,581      1.0000
  1997.............     103.25    26,713.19       3,188       7,964      1.0647
  1998.............     106.56    27,765.16       3,340       8,360      1.1350
  1999.............     110.20    28,920.03       3,498       8,779      1.2100
  2000.............     114.04    30,141.03       3,667       9,229      1.2904
  2001.............     118.20    31,438.18       3,854       9,724      1.3756
  2002.............     122.81    32,866.13       4,059      10,274      1.4665
  2003.............     127.75    34,448.89       4,284      10,869      1.5634
  2004.............     132.81    36,150.94       4,523      11,507      1.6667
  2005.............     138.14    37,968.04       4,782      12,189      1.7768

  2010.............     168.07    48,457.91       6,316      16,219      2.4244
  2015.............     204.49    61,845.96       8,241      21,315      3.3048
  2020.............     248.79    78,932.86      10,630      27,747      4.5050
  2025.............     302.69   100,740.55      13,664      36,011      6.1410
  2030.............     368.27   128,573.31      17,588      46,803      8.3711
  2035.............     448.05   164,095.75      22,758      61,142     11.4111
  2040.............     545.12   209,432.41      29,400      79,750     15.5551
  2045.............     663.23   267,294.72      37,791     103,498     21.2040
  2050.............     806.92   341,143.31      48,459     133,994     28.9044
  2055.............     981.74   435,394.91      62,061     173,256     39.4011
  2060.............    1194.43   555,686.44      79,554     224,229     53.7097
  2065.............    1453.21   709,212.31     102,001     290,266     73.2146
  2070.............    1768.05   905,154.38     130,720     375,569     99.8028 
  
Low Cost:
  1995.............      97.65    24,695.70       2,921       7,253       .9346
  1996.............     100.00    25,681.63       3,070       7,631      1.0000
  1997.............     102.80    26,825.33       3,249       8,076      1.0641
  1998.............     105.87    28,004.92       3,439       8,554      1.1332
  1999.............     109.06    29,285.34       3,643       9,056      1.2064
  2000.............     112.32    30,612.08       3,857       9,577      1.2861
  2001.............     115.71    31,959.65       4,075      10,116      1.3707
  2002.............     119.17    33,376.61       4,305      10,671      1.4594
  2003.............     122.75    34,870.04       4,535      11,251      1.5527
  2004.............     126.40    36,430.05       4,783      11,862      1.6511
  2005.............     130.18    38,091.67       5,044      12,509      1.7538

  2010.............     150.92    47,469.16       6,523      16,220      2.3581
  2015.............     174.95    59,155.23       8,355      20,829      3.1691
  2020.............     202.82    73,718.19      10,604      26,551      4.2590
  2025.............     235.12    91,866.27      13,445      33,830      5.7237
  2030.............     272.57   114,482.10      17,139      43,333      7.6922
  2035.............     315.99   142,665.53      22,008      55,912     10.3377
  2040.............     366.31   177,787.22      28,290      72,218     13.8930
  2045.............     424.66   221,555.20      36,286      93,077     18.6711
  2050.............     492.30   276,098.09      46,460     119,747     25.0924
  2055.............     570.71   344,068.44      59,534     154,183     33.7220
  2060.............     661.61   428,771.97      76,388     198,785     45.3196
  2065.............     766.98   534,327.94      98,100     256,513     60.9057
  2070.............     889.14   665,869.81     125,941     330,893     81.8522
  
High Cost:
  1995.............      97.40   $24,581.39      $2,918      $7,242       .9346
  1996.............     100.00    25,350.67       3,003       7,400      1.0000
  1997.............     103.12    26,228.37       3,076       7,652      1.0638
  1998.............     108.65    27,628.78       3,265       8,216      1.1319
  1999.............     114.50    28,834.17       3,409       8,490      1.2119
  2000.............     119.64    30,201.60       3,521       8,897      1.3062
  2001.............     125.62    31,756.04       3,737       9,559      1.4111
  2002.............     131.86    33,309.98       3,973      10,204      1.5191
  2003.............     138.49    35,014.17       4,212      10,855      1.6294
  2004.............     145.38    36,859.70       4,454      11,534      1.7467
  2005.............     152.67    38,841.32       4,715      12,264      1.8684

  2010.............     194.85    50,764.07       6,370      16,766      2.5725
  2015.............     248.68    66,346.64       8,479      22,583      3.5370
  2020.............     317.38    86,712.41      11,133      30,064      4.8631
  2025.............     405.07   113,329.65      14,509      39,749      6.6864
  2030.............     516.98   148,117.31      18,903      52,540      9.1933
  2035.............     659.82   193,583.41      24,664      69,544     12.6400
  2040.............     842.11   253,005.78      31,997      91,527     17.3790
  2045.............    1074.77   330,668.41      41,216     119,606     23.8946
  2050.............    1371.71   432,170.38      52,855     155,602     32.8532
  2055.............    1750.69   564,829.44      67,591     201,862     45.1704
  2060.............    2234.37   738,209.63      86,337     261,577     62.1056
  2065.............    2851.69   964,810.38     110,277     338,941     85.3900
  2070.............    3639.56 1,260,968.63     140,822     439,082    117.4043
  
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1/ The CPI used to adjust OASDI benefits is the Consumer Price Index for Urban
Wage Earners and Clerical Workers (CPI), as defined by the Bureau of Labor
Statistics, Department of Labor. The values shown are adjusted by dividing the
calendar-year annual average CPI by the analogous value for 1996, and multi-
plying the result by 100, thereby initializing the CPI at 100 for 1996.
2/ The "SSA average wage index" is defined in section 215(i)(1)(G) of the
Social Security Act; it is used in the calculations of initial benefits and
the automatic adjustment of the contribution and benefit base and other wage-
indexed program amounts.
3/ Taxable payroll consists of total earnings subject to OASDI contribution
rates, adjusted to include deemed wages based on military service and to
reflect the lower effective contribution rates (compared to the combined
employee-employer rate) which apply to multiple-employer "excess wages."
4/ The compound interest-rate factor is based on the average of the assumed
annual interest rates for special public-debt obligations issuable to the
trust funds in the 12 months of the year, under each alternative.
      


 
 
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