Filed Under:Markets, Employee Benefits

Annual Social Security shortfall projected to average 12%

CBO Report on Social Security

The check may not be in the mail. (AP Photo/Bradley C. Bower)
The check may not be in the mail. (AP Photo/Bradley C. Bower)

Most Americans are of the mindset that the Social Security program is on shaky ground and may not be able to pay benefits when they retire, as numerous public polls have revealed. Turns out their perceptions are based in reality, at least according to one government report.

According to the Congressional Budget Office (CBO), Social Security is projected to run an average shortfall of 12 percent over the next decade, a higher percentage than the agency estimated a year ago.

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Nichole Morford

Nichole Morford
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