Congressional Budget Office V. Combined OASDI Trust Funds

Combined OASDI Trust Funds [i] (January 2012)

handle is hein.congrec/cbo10626 and id is 1 raw text is: Combined OASDI Trust Funds
January 2012 Baseline By Fiscal Year, ir
prelim.
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Income
Revenues 566 627 698 728 770 819 868 914 958 1,004
Other Income a
Taxes on Benefits 23 25 29 32 35 39 43 48 52 57
Federal Employer Share 15 15 16 16 17 17 18 19 19 20
Interest 116 114 110 105 100 97 97 101 105 108
Transfer (Payroll Tax Holiday) 79 50 1 0 0 0 0 0 0 0
Subtotal, Other Income 233 204 156 154 152 154 158 167 177 186
Total Income 799 831 854 882 922 972 1,026 1,081 1,135 1,189
Outgo
Benefits 720 765 809 852 896 945 998 1,057 1,122 1,191
Discretionary Administration 6 6 6 6 6 6 7 7 7 7
Treasury Administration I I 1 1 1 1 1 1 1
Railroad Transfer 5 4 4 5 5 5 5 5 5 5
Total Outgo 731 776 820 863 908 956 1,011 1,070 1,135 1,205
Surplus/Deficit 68 54 34 19 14 c c c c c
OASI 93 86 70 58 55 57 56 51 40 25
DI -25 -31 -36 -39 -41 c c c c c
Primary Surplus/Deficit b -48 -59 -76 -86 -86 c C C c c
OASI -14 -21 -33 -42 -42 -38 -41 -50 -64 -83
DI -34 -39 -43 -45 -45 c c c c c
Balance 2,654 2,709 2,743 2,762 2,776 c c c c c
OASI 2,493 2,578 2,648 2,706 2,761 2,818 2,875 2,926 2,966 2,991
DI 162 131 95 56 14 c c c c c
OASI = Old-Age and Survivors Insurance; DI = Disability Insurance. Details may not add to totals because of rounding.
a. Other income consists chiefly of transfers from the general fund to the Social Security trust funds. Such transfers appear in the budget as both (1) a positive outlay (the general fund
(2) a negative outlay or offsetting receipt (the trust fund portion).
b. Primary Surplus is the surplus excluding interest paid to the trust fund.
c. CBO projects the DI trust fund will be exhausted during fiscal year 2016. Under current law, the Commissioner of Social Security may not pay benefits in excess of the available balan
borrow money for a trust fund, or transfer money from one trust fund to another. However, following rules in the Deficit Control Act of 1985 (section 257(b)), CBO's baseline assumes
will pay DI benefits in full even after the trust fund is exhausted. Given that discrepancy between the trust funds' operation and the baseline's assumption, CBO is not providing DI or c
for the year of exhaustion and thereafter. For illustrative purposes, below are the annual and cumulative shortfalls in the DI trust fund beginning in 2016. Those shortfalls do not incluc

DI Trust Fund
Annual Shortfall
Cumulative Shortfall

2011
n/a
n/a

2012
n/a
n/a

2013
n/a
n/a

2014
n/a
n/a

2015
n/a
n/a

2016
-41
-27

2017
-41
-68

2018
-40
-108

2019
-40
-149

2020
-41
-189

i Billions of Dollars.
2021 2022
1,049 1,096
63 68
21 21
ill 113
0 0
194 203
1,243 1,298
1,264 1,339
7 8
1 1
5 6
1,277 1,353
C C
9 -9
c c
C C
-101 -122
c c
C C
3,001 2,991
c c
portion) and
-es in a trust fund,
hat the Commissioner
ombined trust fund total
Je interest expenses.

2021
-43
-233

2022
-46
-278

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