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EXPERTS: SOCIAL SECURITY FORECASTS MISCALCULATED BY OVER $1 TRILLION
According to new data compiled by researchers from Harvard and Dartmouth universities, the Social Security Administration’s actuarial projections over the last 15 years have been overly optimistic about the health of the program’s trust funds and missed the mark by over $1 trillion. “These biases are getting bigger and they are substantial. (Social Security) is going to be insolvent before everyone thinks,” said Gary King, co-author of the reports and director of Harvard’s Institute for Quantitative Social Science. He added that the SSA’s forecasts have been “systematically biased and overconfident.” Read more…
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