Andrew Biggs: Social Security deficit rises 16 percent due to OBBA and fertility assumptions

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Andrew Biggs: Social Security deficit rises 16 percent due to OBBA and fertility assumptions — Social Security deficit rises 16 percent

Andrew Biggs reports that Social Security's long-term deficit has increased by 16 percent, primarily due to the OBBA and updated, more realistic fertility assumptions.

He also highlights that a middle-income couple retiring this year will receive a total of $60,000 in benefits.

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Biggs previously highlighted that seniors are currently the most financially secure demographic, according to a Federal Reserve survey. Fewer than 5% of respondents in this group reported finding it very difficult to get by, as detailed in his earlier coverage. This context comes as Social Security faces a rising long-term deficit.

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