Table 1b.c—Unified Budget Effects
Year
Net Purchase or
Sale (negative)
of Equities1
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 Constant 2004 Dollars)
2005
0.0
0.0
0.0
0.0
0.0
0.0
2006
20.0
0.0
1.9
-18.1
18.4
-18.6
2007
22.0
0.0
5.1
-16.9
36.0
-18.3
2008
23.9
0.0
8.3
-15.7
52.8
-18.0
2009
25.7
0.0
11.8
-13.9
68.3
-17.2
2010
28.7
22.1
16.5
9.9
60.1
6.4
2011
31.0
0.0
21.4
-9.6
71.5
-13.2
2012
32.9
0.0
26.5
-6.4
80.0
-10.6
2013
34.5
0.0
31.5
-3.0
85.2
-7.5
2014
35.9
0.0
36.2
0.4
87.3
-4.4
2015
36.8
0.0
40.8
4.0
85.7
-0.8
2016
37.3
0.0
45.4
8.1
80.0
3.4
2017
37.4
0.0
50.0
12.6
69.6
8.3
2018
37.1
0.0
54.3
17.2
54.3
13.6
2019
36.0
0.0
58.6
22.7
32.9
20.2
2020
34.3
0.0
63.0
28.7
4.8
27.6
2021
32.1
0.0
67.1
35.0
-30.6
35.7
2022
29.5
0.0
71.4
41.9
-74.0
44.9
2023
39.1
68.8
75.5
105.1
-182.9
112.5
2024
36.9
69.9
79.6
112.6
-302.7
126.5
2025
34.2
71.0
83.4
120.3
-433.9
141.3
2026
-30.9
72.2
87.3
190.4
-640.2
221.1
2027
-35.1
73.4
91.4
199.8
-862.2
242.8
2028
-39.0
74.5
95.3
208.9
-1,100.1
265.0
2029
-42.7
75.7
99.2
217.6
-1,353.9
287.8
2030
-46.3
76.9
102.7
225.9
-1,623.8
311.0
2031
-49.6
78.2
106.3
234.1
-1,910.1
335.1
2032
-52.8
79.4
110.0
242.2
-2,213.2
360.1
2033
-55.5
80.7
113.8
250.1
-2,533.5
385.8
2034
-58.1
82.0
117.4
257.5
-2,870.8
412.0
2035
-60.4
83.4
120.6
264.3
-3,225.2
438.6
2036
-62.4
84.7
123.7
270.8
-3,596.8
465.9
2037
-64.2
86.1
127.1
277.4
-3,986.2
494.2
2038
-65.7
87.6
130.4
283.7
-4,393.7
523.2
2039
-67.1
89.0
133.6
289.7
-4,819.6
553.1
2040
-68.7
90.4
135.7
294.8
-5,263.4
583.1
2041
-70.4
91.8
137.6
299.8
-5,725.6
614.0
2042
-72.1
93.2
139.7
305.0
-6,206.9
646.1
2043
-73.8
94.7
141.9
310.4
-6,708.1
679.6
2044
-75.8
96.1
142.5
314.4
-7,228.4
712.8
2045
-78.2
97.4
141.9
317.5
-7,767.5
746.2
2046
-80.7
98.7
141.2
320.6
-8,325.9
780.7
2047
-83.2
100.1
140.6
323.9
-8,904.4
816.5
2048
-85.8
101.4
140.2
327.4
-9,503.7
853.6
2049
-88.5
102.7
139.5
330.8
-10,124.5
891.9
2050
-91.5
104.1
138.3
333.9
-10,767.2
931.2
2051
-94.8
105.5
136.8
337.1
-11,432.3
971.7
2052
-98.2
106.8
135.6
340.7
-12,121.0
1,014.0
2053
-101.6
108.3
134.5
344.5
-12,834.2
1,057.9
2054
-105.2
109.7
133.4
348.3
-13,572.7
1,103.2
2055
-109.0
111.1
131.9
352.0
-14,337.2
1,149.9
2056
-112.9
112.6
130.4
355.9
-15,128.4
1,198.2
2057
-116.8
114.0
129.0
359.9
-15,947.5
1,248.3
2058
-120.7
115.5
127.8
364.1
-16,795.5
1,300.1
2059
-124.6
117.0
126.7
368.3
-17,673.1
1,353.6
2060
-128.5
118.5
125.4
372.4
-18,581.3
1,408.9
2061
-132.6
120.1
124.1
376.7
-19,521.0
1,465.9
2062
-136.7
121.6
122.9
381.3
-20,493.6
1,525.2
2063
-141.0
123.2
121.8
386.0
-21,500.1
1,586.5
2064
-145.3
124.8
120.7
390.7
-22,541.7
1,649.8
2065
-149.4
126.4
119.8
395.6
-23,619.4
1,715.2
2066
-153.6
128.1
118.9
400.5
-24,734.5
1,782.8
2067
-157.8
129.7
118.1
405.6
-25,888.2
1,852.8
2068
-161.9
131.5
117.3
410.7
-27,081.6
1,925.0
2069
-166.1
133.2
116.5
415.8
-28,316.0
1,999.5
2070
-170.1
134.9
116.1
421.1
-29,592.9
2,076.6
2071
-174.2
136.7
115.7
426.6
-30,913.7
2,156.3
2072
-178.3
138.5
115.3
432.1
-32,279.6
2,238.6
2073
-182.5
140.3
114.8
437.6
-33,692.1
2,323.6
2074
-186.8
142.1
114.4
443.2
-35,152.6
2,411.3
2075
-191.0
143.9
114.3
449.2
-36,663.1
2,502.3
2076
-195.2
145.8
114.2
455.2
-38,225.0
2,596.1
2077
-199.6
147.7
114.1
461.4
-39,840.0
2,693.1
2078
-203.9
149.6
114.1
467.6
-41,509.8
2,793.2
2079
-208.4
151.5
114.0
473.9
-43,236.0
2,896.6

1Reinvestment of dividends is not included in net purchase.

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

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