Table VI.F1 shows that the OASDI open group unfunded obligation over the infinite horizon is $25.8 trillion in present value, which is $15.1 trillion larger than for the 75‑year period. The $15.1 trillion increment reflects a significant financing gap projected for OASDI for years after 2089 into perpetuity. Of course, the degree of uncertainty associated with estimates increases substantially for years further in the future.The projected infinite horizon shortfall could be eliminated with additional revenue equivalent to an immediate increase in the combined payroll tax rate from 12.4 percent to about 16.5 percent (a relative increase of 33 percent).^{1}This shortfall could be eliminated by reducing cost in a manner equivalent to an immediate and permanent reduction in benefits for all current and future beneficiaries by 23.4 percent.

The infinite horizon unfunded obligation is 0.2 percentage point lower than in last year’s report when expressed as a share of taxable payroll, and 0.1 percentage point lower than last year when expressed as a share of GDP. The main changes affecting the infinite horizon unfunded obligation for this report are changes in economic data and assumptions, method changes in projecting future earnings levels of workers, legislative changes, and revised starting values. See section IV.B.6 for details regarding changes in law, data, methods, and assumptions.Table VI.F2 separates the components of the infinite horizon unfunded obligation (with the exception of general fund reimbursements) among past, current, and future participants. The table does not separate past general fund reimbursements among participants because there is no clear basis for attributing the reimbursements across generations.The excess of the present value of cost for past and current participants over the present value of dedicated tax income for past and current participants produces an unfunded obligation for past and current participants of $27.3 trillion. Table VI.F2 also shows an unfunded obligation of $26.7 trillion for past and current participants, including past and future general fund reimbursements. Future participants will pay dedicated taxes of $1.0 trillion more into the system than the cost of their benefits ($59.2 trillion of dedicated tax income as compared to $58.2 trillion of cost). The unfunded obligation for all participants through the infinite horizon thus equals $25.8 trillion.

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