Table 1b—Unified Budget Effects
|
Year
|
Net Purchase or Sale (negative) of Equities
|
Balancing
Tax Rate &
Estate Tax
(2010 only)
|
Other
Changes
in OASDI
Cash Flow
|
Change
in Annual
Unified Budget
Cash Flow
|
Change
in Debt
Held by
Public
(EOY)
|
Change
in Annual
Unified Budget
Balance
|
|
(Billions of Dollars, Present Value on 1-1-04 See Note Below)
|
|
2005
|
|
|
0.0
|
0.0
|
0.0
|
0.0
|
|
2006
|
18.1
|
0.0
|
1.7
|
-16.4
|
16.8
|
-16.8
|
|
2007
|
19.3
|
0.0
|
4.5
|
-14.8
|
32.0
|
-16.1
|
|
2008
|
20.5
|
0.0
|
7.1
|
-13.4
|
45.8
|
-15.4
|
|
2009
|
21.4
|
0.0
|
9.8
|
-11.6
|
57.8
|
-14.3
|
|
2010
|
23.3
|
18.0
|
13.4
|
8.0
|
49.5
|
5.2
|
|
2011
|
24.6
|
0.0
|
17.0
|
-7.6
|
57.4
|
-10.5
|
|
2012
|
25.4
|
0.0
|
20.4
|
-4.9
|
62.4
|
-8.1
|
|
2013
|
25.9
|
0.0
|
23.6
|
-2.2
|
64.7
|
-5.6
|
|
2014
|
26.1
|
0.0
|
26.4
|
0.3
|
64.5
|
-3.2
|
|
2015
|
26.1
|
0.0
|
28.9
|
2.8
|
61.6
|
-0.6
|
|
2016
|
25.7
|
0.0
|
31.3
|
5.6
|
55.8
|
2.4
|
|
2017
|
25.0
|
0.0
|
33.4
|
8.4
|
47.2
|
5.6
|
|
2018
|
24.1
|
0.0
|
35.2
|
11.2
|
35.7
|
8.9
|
|
2019
|
22.7
|
0.0
|
37.0
|
14.3
|
21.0
|
12.7
|
|
2020
|
21.0
|
0.0
|
38.5
|
17.5
|
3.0
|
16.9
|
|
2021
|
19.1
|
0.0
|
39.9
|
20.8
|
-18.4
|
21.2
|
|
2022
|
17.0
|
0.0
|
41.2
|
24.2
|
-43.3
|
25.9
|
|
2023
|
21.9
|
38.5
|
42.3
|
58.9
|
-103.9
|
63.0
|
|
2024
|
20.1
|
38.0
|
43.3
|
61.3
|
-166.9
|
68.8
|
|
2025
|
18.1
|
37.5
|
44.1
|
63.5
|
-232.3
|
74.6
|
|
2026
|
-15.8
|
37.0
|
44.8
|
97.6
|
-332.8
|
113.4
|
|
2027
|
-17.5
|
36.5
|
45.5
|
99.5
|
-435.1
|
120.8
|
|
2028
|
-18.9
|
36.0
|
46.1
|
100.9
|
-539.0
|
128.1
|
|
2029
|
-20.0
|
35.5
|
46.5
|
102.1
|
-644.0
|
135.0
|
|
2030
|
-21.1
|
35.0
|
46.8
|
102.9
|
-749.9
|
141.7
|
|
2031
|
-22.0
|
34.6
|
47.0
|
103.5
|
-856.5
|
148.2
|
|
2032
|
-22.7
|
34.1
|
47.2
|
104.0
|
-963.5
|
154.6
|
|
2033
|
-23.2
|
33.7
|
47.4
|
104.3
|
-1,070.8
|
160.8
|
|
2034
|
-23.5
|
33.2
|
47.5
|
104.2
|
-1,178.0
|
166.7
|
|
2035
|
-23.7
|
32.8
|
47.4
|
103.9
|
-1,284.9
|
172.3
|
|
2036
|
-23.8
|
32.3
|
47.2
|
103.3
|
-1,391.2
|
177.7
|
|
2037
|
-23.8
|
31.9
|
47.1
|
102.7
|
-1,496.9
|
183.0
|
|
2038
|
-23.6
|
31.5
|
46.9
|
102.0
|
-1,601.9
|
188.1
|
|
2039
|
-23.4
|
31.1
|
46.6
|
101.2
|
-1,705.9
|
193.1
|
|
2040
|
-23.3
|
30.6
|
46.0
|
99.9
|
-1,808.8
|
197.6
|
|
2041
|
-23.2
|
30.2
|
45.3
|
98.7
|
-1,910.3
|
202.0
|
|
2042
|
-23.0
|
29.8
|
44.6
|
97.4
|
-2,010.6
|
206.4
|
|
2043
|
-22.9
|
29.4
|
44.0
|
96.3
|
-2,109.6
|
210.8
|
|
2044
|
-22.8
|
28.9
|
42.9
|
94.7
|
-2,207.0
|
214.6
|
|
2045
|
-22.9
|
28.5
|
41.5
|
92.8
|
-2,302.6
|
218.2
|
|
2046
|
-22.9
|
28.0
|
40.1
|
91.0
|
-2,396.2
|
221.6
|
|
2047
|
-22.9
|
27.6
|
38.8
|
89.3
|
-2,488.1
|
225.0
|
|
2048
|
-22.9
|
27.1
|
37.5
|
87.6
|
-2,578.2
|
228.4
|
|
2049
|
-23.0
|
26.7
|
36.2
|
85.9
|
-2,666.6
|
231.7
|
|
2050
|
-23.1
|
26.3
|
34.9
|
84.2
|
-2,753.3
|
234.8
|
|
2051
|
-23.2
|
25.8
|
33.5
|
82.5
|
-2,838.2
|
237.9
|
|
2052
|
-23.3
|
25.4
|
32.2
|
81.0
|
-2,921.5
|
241.0
|
|
2053
|
-23.5
|
25.0
|
31.1
|
79.5
|
-3,003.3
|
244.2
|
|
2054
|
-23.6
|
24.6
|
29.9
|
78.0
|
-3,083.6
|
247.2
|
|
2055
|
-23.7
|
24.2
|
28.7
|
76.6
|
-3,162.4
|
250.2
|
|
2056
|
-23.8
|
23.8
|
27.5
|
75.2
|
-3,239.8
|
253.1
|
|
2057
|
-24.0
|
23.4
|
26.5
|
73.8
|
-3,315.7
|
256.0
|
|
2058
|
-24.0
|
23.0
|
25.5
|
72.5
|
-3,390.3
|
258.8
|
|
2059
|
-24.1
|
22.6
|
24.5
|
71.2
|
-3,463.6
|
261.6
|
|
2060
|
-24.1
|
22.2
|
23.5
|
69.9
|
-3,535.5
|
264.4
|
|
2061
|
-24.2
|
21.9
|
22.6
|
68.6
|
-3,606.1
|
267.1
|
|
2062
|
-24.2
|
21.5
|
21.7
|
67.4
|
-3,675.5
|
269.8
|
|
2063
|
-24.2
|
21.2
|
20.9
|
66.3
|
-3,743.7
|
272.5
|
|
2064
|
-24.2
|
20.8
|
20.1
|
65.1
|
-3,810.7
|
275.1
|
|
2065
|
-24.2
|
20.5
|
19.4
|
64.0
|
-3,876.6
|
277.7
|
|
2066
|
-24.1
|
20.1
|
18.7
|
62.9
|
-3,941.4
|
280.2
|
|
2067
|
-24.1
|
19.8
|
18.0
|
61.9
|
-4,005.1
|
282.7
|
|
2068
|
-24.0
|
19.5
|
17.4
|
60.8
|
-4,067.7
|
285.2
|
|
2069
|
-23.9
|
19.2
|
16.8
|
59.8
|
-4,129.2
|
287.6
|
|
2070
|
-23.8
|
18.8
|
16.2
|
58.8
|
-4,189.7
|
290.0
|
|
2071
|
-23.6
|
18.5
|
15.7
|
57.8
|
-4,249.3
|
292.3
|
|
2072
|
-23.5
|
18.2
|
15.2
|
56.9
|
-4,307.8
|
294.7
|
|
2073
|
-23.3
|
17.9
|
14.7
|
55.9
|
-4,365.3
|
296.9
|
|
2074
|
-23.2
|
17.6
|
14.2
|
55.0
|
-4,421.9
|
299.2
|
|
2075
|
-23.0
|
17.3
|
13.8
|
54.1
|
-4,477.6
|
301.4
|
|
2076
|
-22.8
|
17.0
|
13.4
|
53.2
|
-4,532.4
|
303.6
|
|
2077
|
-22.7
|
16.8
|
13.0
|
52.4
|
-4,586.3
|
305.8
|
|
2078
|
-22.5
|
16.5
|
12.6
|
51.5
|
-4,639.3
|
307.9
|
|
2079
|
-22.3
|
16.2
|
12.2
|
50.7
|
-4,691.5
|
310.0
|
Note: Present Value discount at Treasury Bond yield
Based on Intermediate Assumptions of the 2004 Trustees Report
With Ultimate Real Trust Fund Yield Rate of 3.7
With Ultimate Real Treasury Bond Yield Rate of 3.0
Office of the Chief Actuary
Social Security Administration
April 13, 2005