OLD-AGE AND SURVIVORS TRUST FUND - INCOME, OUTGO, AND BALANCE: 1940-2009
(in billions of dollars - Maximum Earnings in dollars)
Maximum
Total Total Fund Earnings OAS OASDI
Year GDP Outgo Income Balance Taxed Tax Rate Tax Rate
---- -------- ------ ------ ------- ------- -------- --------
1940 96.8 0.0 0.6 1.7 3000 1.00 1.00
1941 114.1 0.1 0.7 2.4 3000 1.00 1.00
1942 144.3 0.1 1.0 3.2 3000 1.00 1.00
1943 180.3 0.2 1.2 4.3 3000 1.00 1.00
1944 209.2 0.2 1.4 5.4 3000 1.00 1.00
1945 221.4 0.3 1.4 6.6 3000 1.00 1.00
1946 222.7 0.4 1.4 7.6 3000 1.00 1.00
1947 233.2 0.5 1.6 8.8 3000 1.00 1.00
1948 256.7 0.6 1.8 10.0 3000 1.00 1.00
1949 271.3 0.7 1.9 11.3 3000 1.00 1.00
1950 273.2 0.8 2.4 12.9 3000 1.50 1.50
1951 320.3 1.6 3.4 14.7 3600 1.50 1.50
1952 348.7 2.1 3.9 16.6 3600 1.50 1.50
1953 372.6 2.7 4.5 18.4 3600 1.50 1.50
1954 377.1 3.4 5.0 20.0 3600 2.00 2.00
1955 395.9 4.4 5.5 21.1 4200 2.00 2.00
1956 427.0 5.5 6.9 22.6 4200 2.00 2.00
1957 450.9 6.7 7.1 23.0 4200 2.00 2.25
1958 460.0 8.0 7.8 22.8 4200 2.00 2.25
1959 490.2 9.4 8.1 21.5 4800 2.25 2.50
1960 518.9 11.1 10.4 20.8 4800 2.75 3.00
1961 529.9 11.7 11.8 20.9 4800 2.75 3.00
1962 567.8 13.3 12.0 19.7 4800 2.875 3.125
1963 599.2 14.5 13.9 19.0 4800 3.375 3.625
1964 641.4 15.3 16.0 19.7 4800 3.375 3.625
1965 687.5 16.0 16.4 20.2 4800 3.375 3.625
1966 755.8 18.8 18.5 19.9 6600 3.50 3.85
1967 810.2 19.7 23.4 23.5 6600 3.55 3.90
1968 868.5 21.6 23.6 25.5 7800 3.325 3.80
1969 948.3 24.7 27.3 28.2 7800 3.725 4.20
1970 1012.9 27.3 31.7 32.6 7800 3.65 4.20
1971 1080.3 32.3 34.0 34.3 7800 4.05 4.60
1972 1176.9 35.8 37.9 36.4 9000 4.05 4.60
1973 1311.0 43.6 43.6 36.4 10800 4.30 4.85
1974 1438.9 49.5 50.9 37.9 13200 4.375 4.95
1975 1560.8 56.7 58.8 40.0 14100 4.375 4.95
1976 1738.8 64.3 62.3 38.0 15300 4.375 4.95
1977 1974.4 73.5 71.8 35.4 16500 4.375 4.95
1978 2218.3 81.2 76.8 31.0 17700 4.275 5.05
1979 2502.4 90.1 86.9 27.8 22900 4.33 5.08
1980 2725.4 103.2 100.1 24.6 25900 4.52 5.08
1981 3058.6 122.3 121.6 23.8 29700 4.70 5.35
1982 3225.5 137.9 126.6 12.5 32400 4.575 5.40
1983 3442.7 154.0 150.6 26.7 35700 4.775 5.40
1984 3846.7 162.4 163.3 27.6 37800 5.20 5.70
1985 4148.9 171.6 182.3 33.9 39600 5.20 5.70
1986 4406.7 179.6 196.4 37.5 42000 5.20 5.70
1987 4654.4 186.8 207.5 58.3 43800 5.20 5.70
1988 5011.9 197.9 236.6 97.0 45000 5.53 6.06
1989 5401.7 210.1 261.5 148.3 48000 5.53 6.06
1990 5737.0 224.5 279.6 203.4 51300 5.60 6.20
1991 5934.2 243.8 295.7 255.4 53400 5.60 6.20
1992 6240.6 256.3 307.2 306.3 55500 5.60 6.20
1993 6578.4 270.0 319.3 355.6 57600 5.60 6.20
1994 6964.2 281.6 342.3 416.3 60600 5.26 6.20
1995 7325.1 294.5 326.1 447.9 61200 5.26 6.20
1996 7697.4 305.5 357.0 499.5 62700 5.26 6.20
1997 8186.6 318.6 386.5 567.4 65400 5.35 6.20
1998 8626.3 329.8 415.7 653.3 68400 5.35 6.20
1999 9127.0 337.9 447.0 762.4 72600 5.35 6.20
2000 9708.4 353.4 484.3 893.2 76200 5.30 6.20
2001 10040.7 373.0 513.9 1034.0 80400 5.30 6.20
2002 10373.4 389.6 529.3 1173.7 84900 5.30 6.20
2003 10828.3 402.7 542.4 1313.4 87000 5.30 6.20
2004* 11466.0 417.3 555.4 1451.5 87900 5.30 6.20
2005* 12042.4 430.6 597.6 1618.4 5.30 6.20
2006* 12641.1 444.7 630.2 1804.0 5.30 6.20
2007* 13279.1 462.1 670.0 2011.9 5.30 6.20
2008* 13972.6 482.5 711.5 5.30 6.20
2009* 14701.6 507.6 753.4 5.30 6.20
==============================================================================
OLD-AGE AND SURVIVORS TRUST FUND - INCOME, OUTGO, AND BALANCE: 1940-2009
(in billions of 2000 dollars - Maximum Earnings in 2000 dollars)
Maximum Composite
Total Total Fund Earnings OAS OASDI Outlay
Year GDP Outgo Income Balance Taxed Tax Rate Tax Rate Deflator
---- -------- ------ ------ ------- ------- -------- -------- --------
1940 1112.6 0.3 6.8 20.1 34483 1.00 1.00 0.0870
1941 1229.5 1.0 8.0 25.8 32328 1.00 1.00 0.0928
1942 1403.7 1.3 9.4 31.4 29183 1.00 1.00 0.1028
1943 1607.0 1.6 10.9 38.0 26738 1.00 1.00 0.1122
1944 1971.7 2.0 13.1 51.3 28275 1.00 1.00 0.1061
1945 2126.8 2.6 13.8 63.5 28818 1.00 1.00 0.1041
1946 2079.4 3.3 12.9 71.3 28011 1.00 1.00 0.1071
1947 2006.9 4.0 14.0 75.7 25818 1.00 1.00 0.1162
1948 2016.5 4.4 14.2 78.9 23566 1.00 1.00 0.1273
1949 2177.4 5.3 15.4 90.8 24077 1.00 1.00 0.1246
1950 2122.8 6.1 18.4 100.2 23310 1.50 1.50 0.1287
1951 2504.3 12.3 26.7 115.2 28147 1.50 1.50 0.1279
1952 2724.2 16.1 30.7 129.7 28125 1.50 1.50 0.1280
1953 2723.7 19.9 32.8 134.3 26316 1.50 1.50 0.1368
1954 2676.4 23.9 35.8 142.2 25550 2.00 2.00 0.1409
1955 2721.0 30.5 38.0 145.3 28866 2.00 2.00 0.1455
1956 2798.2 35.9 45.5 148.1 27523 2.00 2.00 0.1526
1957 2816.4 41.6 44.4 143.8 26234 2.00 2.25 0.1601
1958 2726.7 47.7 46.4 135.2 24896 2.00 2.25 0.1687
1959 2807.6 53.7 46.4 123.4 27491 2.25 2.50 0.1746
1960 2965.1 63.3 59.2 119.1 27429 2.75 3.00 0.1750
1961 2952.1 65.3 65.9 116.6 26741 2.75 3.00 0.1795
1962 3149.2 73.6 66.6 109.1 26622 2.875 3.125 0.1803
1963 3199.1 77.6 74.0 101.4 25627 3.375 3.625 0.1873
1964 3375.8 80.4 84.4 103.9 25263 3.375 3.625 0.1900
1965 3565.9 82.8 85.2 104.8 24896 3.375 3.625 0.1928
1966 3828.8 95.1 93.5 100.8 33435 3.50 3.85 0.1974
1967 3999.0 97.4 115.4 116.1 32577 3.55 3.90 0.2026
1968 4129.8 102.8 112.4 121.5 37090 3.325 3.80 0.2103
1969 4252.5 110.7 122.6 126.5 34978 3.725 4.20 0.2230
1970 4286.5 115.6 134.3 138.1 33009 3.65 4.20 0.2363
1971 4288.6 128.1 134.9 136.3 30965 4.05 4.60 0.2519
1972 4375.1 133.3 141.0 135.4 33457 4.05 4.60 0.2690
1973 4627.6 154.0 154.0 128.6 38122 4.30 4.85 0.2833
1974 4687.0 161.2 165.9 123.4 42997 4.375 4.95 0.3070
1975 4612.3 167.5 173.6 118.1 41667 4.375 4.95 0.3384
1976 4776.9 176.6 171.2 104.4 42033 4.375 4.95 0.3640
1977 5018.8 186.8 182.5 89.9 41942 4.375 4.95 0.3934
1978 5288.0 193.6 183.1 73.9 42193 4.275 5.05 0.4195
1979 5497.4 198.0 190.9 61.0 50308 4.33 5.08 0.4552
1980 5419.4 205.3 198.9 48.9 51501 4.52 5.08 0.5029
1981 5499.1 219.9 218.6 42.9 53398 4.70 5.35 0.5562
1982 5413.7 231.5 212.5 21.1 54381 4.575 5.40 0.5958
1983 5512.7 246.6 241.1 42.7 57166 4.775 5.40 0.6245
1984 5868.3 247.8 249.1 42.1 57666 5.20 5.70 0.6555
1985 6118.4 253.1 268.8 50.0 58398 5.20 5.70 0.6781
1986 6343.3 258.5 282.7 54.0 60458 5.20 5.70 0.6947
1987 6516.0 261.5 290.5 81.6 61319 5.20 5.70 0.7143
1988 6810.6 268.9 321.5 131.8 61150 5.53 6.06 0.7359
1989 7078.6 275.4 342.7 194.4 62901 5.53 6.06 0.7631
1990 7278.6 284.8 354.7 258.1 65085 5.60 6.20 0.7882
1991 7214.0 296.3 359.5 310.5 64916 5.60 6.20 0.8226
1992 7335.0 301.2 361.0 360.0 65233 5.60 6.20 0.8508
1993 7539.7 309.4 366.0 407.6 66017 5.60 6.20 0.8725
1994 7823.2 316.3 384.5 467.7 68075 5.26 6.20 0.8902
1995 8031.9 322.9 357.5 491.2 67105 5.26 6.20 0.9120
1996 8251.9 327.5 382.7 535.5 67217 5.26 6.20 0.9328
1997 8610.2 335.1 406.5 596.8 68784 5.35 6.20 0.9508
1998 8982.9 343.4 432.9 680.3 71228 5.35 6.20 0.9603
1999 9362.9 346.7 458.5 782.1 74477 5.35 6.20 0.9748
2000 9708.4 353.4 484.3 893.2 76200 5.30 6.20 1.0000
2001 9811.1 364.5 502.1 1010.4 78562 5.30 6.20 1.0234
2002 9966.8 374.3 508.5 1127.7 81572 5.30 6.20 1.0408
2003 10192.3 379.0 510.5 1236.3 81890 5.30 6.20 1.0624
2004* 10597.0 385.7 513.3 1341.5 81238 5.30 6.20 1.0820
2005* 10938.7 391.2 542.8 1470.1 5.30 6.20 1.1009
2006* 11190.8 393.7 557.9 1597.0 5.30 6.20 1.1296
2007* 11525.0 401.0 581.5 1746.2 5.30 6.20 1.1522
2008* 11877.4 410.2 604.8 5.30 6.20 1.1764
2009* 12225.9 422.1 626.5 5.30 6.20 1.2025
==============================================================================
OLD-AGE AND SURVIVORS TRUST FUND - INCOME, OUTGO, AND BALANCE: 1940-2009
(percent of GDP - Maximum Earnings in dollars)
Maximum
Total Total Fund Earnings OAS OASDI
Year GDP Outgo Income Balance Taxed Tax Rate Tax Rate
---- -------- ------ ------ ------- ------- -------- --------
1940 96.8 0.0 0.6 1.8 3000 1.00 1.00
1941 114.1 0.1 0.7 2.1 3000 1.00 1.00
1942 144.3 0.1 0.7 2.2 3000 1.00 1.00
1943 180.3 0.1 0.7 2.4 3000 1.00 1.00
1944 209.2 0.1 0.7 2.6 3000 1.00 1.00
1945 221.4 0.1 0.6 3.0 3000 1.00 1.00
1946 222.7 0.2 0.6 3.4 3000 1.00 1.00
1947 233.2 0.2 0.7 3.8 3000 1.00 1.00
1948 256.7 0.2 0.7 3.9 3000 1.00 1.00
1949 271.3 0.2 0.7 4.2 3000 1.00 1.00
1950 273.2 0.3 0.9 4.7 3000 1.50 1.50
1951 320.3 0.5 1.1 4.6 3600 1.50 1.50
1952 348.7 0.6 1.1 4.8 3600 1.50 1.50
1953 372.6 0.7 1.2 4.9 3600 1.50 1.50
1954 377.1 0.9 1.3 5.3 3600 2.00 2.00
1955 395.9 1.1 1.4 5.3 4200 2.00 2.00
1956 427.0 1.3 1.6 5.3 4200 2.00 2.00
1957 450.9 1.5 1.6 5.1 4200 2.00 2.25
1958 460.0 1.7 1.7 5.0 4200 2.00 2.25
1959 490.2 1.9 1.7 4.4 4800 2.25 2.50
1960 518.9 2.1 2.0 4.0 4800 2.75 3.00
1961 529.9 2.2 2.2 3.9 4800 2.75 3.00
1962 567.8 2.3 2.1 3.5 4800 2.875 3.125
1963 599.2 2.4 2.3 3.2 4800 3.375 3.625
1964 641.4 2.4 2.5 3.1 4800 3.375 3.625
1965 687.5 2.3 2.4 2.9 4800 3.375 3.625
1966 755.8 2.5 2.4 2.6 6600 3.50 3.85
1967 810.2 2.4 2.9 2.9 6600 3.55 3.90
1968 868.5 2.5 2.7 2.9 7800 3.325 3.80
1969 948.3 2.6 2.9 3.0 7800 3.725 4.20
1970 1012.9 2.7 3.1 3.2 7800 3.65 4.20
1971 1080.3 3.0 3.1 3.2 7800 4.05 4.60
1972 1176.9 3.0 3.2 3.1 9000 4.05 4.60
1973 1311.0 3.3 3.3 2.8 10800 4.30 4.85
1974 1438.9 3.4 3.5 2.6 13200 4.375 4.95
1975 1560.8 3.6 3.8 2.6 14100 4.375 4.95
1976 1738.8 3.7 3.6 2.2 15300 4.375 4.95
1977 1974.4 3.7 3.6 1.8 16500 4.375 4.95
1978 2218.3 3.7 3.5 1.4 17700 4.275 5.05
1979 2502.4 3.6 3.5 1.1 22900 4.33 5.08
1980 2725.4 3.8 3.7 0.9 25900 4.52 5.08
1981 3058.6 4.0 4.0 0.8 29700 4.70 5.35
1982 3225.5 4.3 3.9 0.4 32400 4.575 5.40
1983 3442.7 4.5 4.4 0.8 35700 4.775 5.40
1984 3846.7 4.2 4.2 0.7 37800 5.20 5.70
1985 4148.9 4.1 4.4 0.8 39600 5.20 5.70
1986 4406.7 4.1 4.5 0.9 42000 5.20 5.70
1987 4654.4 4.0 4.5 1.3 43800 5.20 5.70
1988 5011.9 3.9 4.7 1.9 45000 5.53 6.06
1989 5401.7 3.9 4.8 2.7 48000 5.53 6.06
1990 5737.0 3.9 4.9 3.5 51300 5.60 6.20
1991 5934.2 4.1 5.0 4.3 53400 5.60 6.20
1992 6240.6 4.1 4.9 4.9 55500 5.60 6.20
1993 6578.4 4.1 4.9 5.4 57600 5.60 6.20
1994 6964.2 4.0 4.9 6.0 60600 5.26 6.20
1995 7325.1 4.0 4.5 6.1 61200 5.26 6.20
1996 7697.4 4.0 4.6 6.5 62700 5.26 6.20
1997 8186.6 3.9 4.7 6.9 65400 5.35 6.20
1998 8626.3 3.8 4.8 7.6 68400 5.35 6.20
1999 9127.0 3.7 4.9 8.4 72600 5.35 6.20
2000 9708.4 3.6 5.0 9.2 76200 5.30 6.20
2001 10040.7 3.7 5.1 10.3 80400 5.30 6.20
2002 10373.4 3.8 5.1 11.3 84900 5.30 6.20
2003 10828.3 3.7 5.0 12.1 87000 5.30 6.20
2004* 11466.0 3.6 4.8 12.7 87900 5.30 6.20
2005* 12042.4 3.6 5.0 13.4 5.30 6.20
2006* 12641.1 3.5 5.0 14.3 5.30 6.20
2007* 13279.1 3.5 5.0 15.2 5.30 6.20
2008* 13972.6 3.5 5.1 5.30 6.20
2009* 14701.6 3.5 5.1 5.30 6.20
----------------------------------------------------------------------
*estimated
Source: Budget of the United States Government, FY 2005, Historical
Tables, table 10.1 and 13.1; OAS Tax Rate and Maximum Earnings
from 2004 Annual Report of the Board of Trustees of the OASDI
Trust Fund, Table VI.A.1, pages 125-126
Note: OAS Tax Rate is paid by employer and employee, each; after 2004,
maximum earnings taxed is based on increases in average wages
DISABILITY INSURANCE TRUST FUND - INCOME, OUTGO, AND BALANCE: 1957-2009
(in billions of dollars - Maximum Earnings in dollars)
Maximum
Total Total Fund Earnings DI OASDI
Year GDP Outgo Income Balance Taxed Tax Rate Tax Rate
---- -------- ------ ------ ------- ------- -------- --------
1957 450.9 0.0 0.3 0.3 4200 0.25 2.25
1958 460.0 0.2 0.9 1.1 4200 0.25 2.25
1959 490.2 0.4 0.9 1.7 4800 0.25 2.50
1960 518.9 0.6 1.1 2.2 4800 0.25 3.00
1961 529.9 0.7 1.1 2.5 4800 0.25 3.00
1962 567.8 1.1 1.1 2.5 4800 0.25 3.125
1963 599.2 1.3 1.1 2.4 4800 0.25 3.625
1964 641.4 1.3 1.2 2.3 4800 0.25 3.625
1965 687.5 1.5 1.2 2.0 4800 0.25 3.625
1966 755.8 1.9 1.6 1.7 6600 0.35 3.85
1967 810.2 2.0 2.3 2.0 6600 0.35 3.90
1968 868.5 2.2 2.8 2.6 7800 0.475 3.80
1969 948.3 2.6 3.7 3.7 7800 0.475 4.20
1970 1012.9 3.0 4.4 5.1 7800 0.55 4.20
1971 1080.3 3.6 4.9 6.4 7800 0.55 4.60
1972 1176.9 4.3 5.3 7.4 9000 0.55 4.60
1973 1311.0 5.5 5.9 7.9 10800 0.55 4.85
1974 1438.9 6.4 6.8 8.3 13200 0.575 4.95
1975 1560.8 8.0 7.9 8.2 14100 0.575 4.95
1976 1738.8 9.6 8.4 6.9 15300 0.575 4.95
1977 1974.4 11.6 9.4 4.2 16500 0.575 4.95
1978 2218.3 12.7 12.8 4.4 17700 0.775 5.05
1979 2502.4 13.9 15.2 5.6 22900 0.75 5.08
1980 2725.4 15.3 17.4 7.7 25900 0.56 5.08
1981 3058.6 17.3 13.0 3.4 29700 0.65 5.35
1982 3225.5 18.0 21.4 6.8 32400 0.825 5.40
1983 3442.7 18.3 21.9 5.3 35700 0.625 5.40
1984 3846.7 18.5 17.8 4.6 37800 0.50 5.70
1985 4148.9 19.4 18.1 5.9 39600 0.50 5.70
1986 4406.7 20.2 20.2 8.3 42000 0.50 5.70
1987 4654.4 21.3 20.1 7.2 43800 0.50 5.70
1988 5011.9 22.4 22.5 7.3 45000 0.53 6.06
1989 5401.7 23.5 24.6 8.4 48000 0.53 6.06
1990 5737.0 25.2 28.3 11.5 51300 0.60 6.20
1991 5934.2 28.6 30.1 13.0 53400 0.60 6.20
1992 6240.6 31.3 31.2 12.9 55500 0.60 6.20
1993 6578.4 34.6 32.1 10.3 57600 0.60 6.20
1994 6964.2 38.0 34.0 6.4 60600 0.94 6.20
1995 7325.1 41.4 70.2 35.2 61200 0.94 6.20
1996 7697.4 44.6 59.4 50.1 62700 0.94 6.20
1997 8186.6 46.7 60.1 63.5 65400 0.85 6.20
1998 8626.3 49.5 63.0 77.0 68400 0.85 6.20
1999 9127.0 52.1 67.8 92.6 72600 0.85 6.20
2000 9708.4 56.0 77.1 113.6 76200 0.90 6.20
2001 10040.7 60.8 83.0 135.8 80400 0.90 6.20
2002 10373.4 66.4 85.8 155.2 84900 0.90 6.20
2003 10828.3 72.0 88.0 171.2 87000 0.90 6.20
2004* 11466.0 79.0 90.0 182.1 87900 0.90 6.20
2005* 12042.4 84.5 96.6 194.3 0.90 6.20
2006* 12641.1 88.9 101.3 206.7 0.90 6.20
2007* 13279.1 94.3 107.0 219.4 0.90 6.20
2008* 13972.6 98.3 112.6 233.7 0.90 6.20
2009* 14701.6 104.7 118.2 247.1 0.90 6.20
===============================================================================
DISABILITY INSURANCE TRUST FUND - INCOME, OUTGO, AND BALANCE: 1957-2009
(in billions of 2000 dollars - Maximum Earnings in 2000 dollars)
Maximum Composite
Total Total Fund Earnings OAS OASDI Outlay
Year GDP Outgo Income Balance Taxed Tax Rate Tax Rate Deflator
---- -------- ------ ------ ------- ------- -------- -------- --------
1957 2816.4 0.0 2.1 2.1 26234 0.25 2.25 0.1601
1958 2726.7 1.1 5.6 6.5 24896 0.25 2.25 0.1687
1959 2807.6 2.1 5.3 9.5 27491 0.25 2.50 0.1746
1960 2965.1 3.2 6.1 12.4 27429 0.25 3.00 0.1750
1961 2952.1 4.2 6.0 14.0 26741 0.25 3.00 0.1795
1962 3149.2 6.0 6.1 13.9 26622 0.25 3.125 0.1803
1963 3199.1 6.7 6.1 12.8 25627 0.25 3.625 0.1873
1964 3375.8 7.0 6.4 11.9 25263 0.25 3.625 0.1900
1965 3565.9 7.8 6.4 10.4 24896 0.25 3.625 0.1928
1966 3828.8 9.8 8.2 8.6 33435 0.35 3.85 0.1974
1967 3999.0 9.9 11.5 10.0 32577 0.35 3.90 0.2026
1968 4129.8 10.6 13.3 12.3 37090 0.475 3.80 0.2103
1969 4252.5 11.7 16.6 16.5 34978 0.475 4.20 0.2230
1970 4286.5 12.5 18.5 21.6 33009 0.55 4.20 0.2363
1971 4288.6 14.3 19.5 25.4 30965 0.55 4.60 0.2519
1972 4375.1 16.0 19.7 27.5 33457 0.55 4.60 0.2690
1973 4627.6 19.3 21.0 27.8 38122 0.55 4.85 0.2833
1974 4687.0 20.8 22.0 26.9 42997 0.575 4.95 0.3070
1975 4612.3 23.6 23.4 24.2 41667 0.575 4.95 0.3384
1976 4776.9 26.4 23.0 19.1 42033 0.575 4.95 0.3640
1977 5018.8 29.5 23.8 10.8 41942 0.575 4.95 0.3934
1978 5288.0 30.2 30.5 10.4 42193 0.775 5.05 0.4195
1979 5497.4 30.6 33.4 12.4 50308 0.75 5.08 0.4552
1980 5419.4 30.5 34.6 15.3 51501 0.56 5.08 0.5029
1981 5499.1 31.1 23.4 6.1 53398 0.65 5.35 0.5562
1982 5413.7 30.3 35.9 11.3 54381 0.825 5.40 0.5958
1983 5512.7 29.3 35.1 8.5 57166 0.625 5.40 0.6245
1984 5868.3 28.2 27.2 7.1 57666 0.50 5.70 0.6555
1985 6118.4 28.6 26.6 8.7 58398 0.50 5.70 0.6781
1986 6343.3 29.1 29.0 12.0 60458 0.50 5.70 0.6947
1987 6516.0 29.8 28.2 10.0 61319 0.50 5.70 0.7143
1988 6810.6 30.4 30.5 9.9 61150 0.53 6.06 0.7359
1989 7078.6 30.8 32.2 11.0 62901 0.53 6.06 0.7631
1990 7278.6 32.0 35.9 14.5 65085 0.60 6.20 0.7882
1991 7214.0 34.8 36.6 15.8 64916 0.60 6.20 0.8226
1992 7335.0 36.8 36.6 15.1 65233 0.60 6.20 0.8508
1993 7539.7 39.7 36.8 11.8 66017 0.60 6.20 0.8725
1994 7823.2 42.7 38.2 7.2 68075 0.94 6.20 0.8902
1995 8031.9 45.4 77.0 38.6 67105 0.94 6.20 0.9120
1996 8251.9 47.8 63.7 53.7 67217 0.94 6.20 0.9328
1997 8610.2 49.1 63.2 66.8 68784 0.85 6.20 0.9508
1998 8982.9 51.5 65.6 80.2 71228 0.85 6.20 0.9603
1999 9362.9 53.5 69.5 95.0 74477 0.85 6.20 0.9748
2000 9708.4 56.0 77.1 113.6 76200 0.90 6.20 1.0000
2001 9811.1 59.4 81.1 132.7 78562 0.90 6.20 1.0234
2002 9966.8 63.8 82.4 149.1 81572 0.90 6.20 1.0408
2003 10192.3 67.8 82.8 161.1 81890 0.90 6.20 1.0624
2004* 10597.0 73.0 83.1 168.3 81238 0.90 6.20 1.0820
2005* 10938.7 76.7 87.7 176.5 0.90 6.20 1.1009
2006* 11190.8 78.7 89.7 182.9 0.90 6.20 1.1296
2007* 11525.0 81.8 92.8 190.4 0.90 6.20 1.1522
2008* 11877.4 83.5 95.7 198.6 0.90 6.20 1.1764
2009* 12225.9 87.1 98.3 205.5 0.90 6.20 1.2025
==============================================================================
DISABILITY INSURANCE TRUST FUND - INCOME, OUTGO, AND BALANCE: 1957-2009
(percent of GDP - Maximum Earnings in dollars)
Maximum
Total Total Fund Earnings DI OASDI
Year GDP Outgo Income Balance Taxed Tax Rate Tax Rate
---- -------- ------ ------ ------- ------- -------- --------
1957 450.9 0.0 0.1 0.1 4200 0.25 2.25
1958 460.0 0.0 0.2 0.2 4200 0.25 2.25
1959 490.2 0.1 0.2 0.3 4800 0.25 2.50
1960 518.9 0.1 0.2 0.4 4800 0.25 3.00
1961 529.9 0.1 0.2 0.5 4800 0.25 3.00
1962 567.8 0.2 0.2 0.4 4800 0.25 3.125
1963 599.2 0.2 0.2 0.4 4800 0.25 3.625
1964 641.4 0.2 0.2 0.4 4800 0.25 3.625
1965 687.5 0.2 0.2 0.3 4800 0.25 3.625
1966 755.8 0.3 0.2 0.2 6600 0.35 3.85
1967 810.2 0.2 0.3 0.2 6600 0.35 3.90
1968 868.5 0.3 0.3 0.3 7800 0.475 3.80
1969 948.3 0.3 0.4 0.4 7800 0.475 4.20
1970 1012.9 0.3 0.4 0.5 7800 0.55 4.20
1971 1080.3 0.3 0.5 0.6 7800 0.55 4.60
1972 1176.9 0.4 0.4 0.6 9000 0.55 4.60
1973 1311.0 0.4 0.5 0.6 10800 0.55 4.85
1974 1438.9 0.4 0.5 0.6 13200 0.575 4.95
1975 1560.8 0.5 0.5 0.5 14100 0.575 4.95
1976 1738.8 0.6 0.5 0.4 15300 0.575 4.95
1977 1974.4 0.6 0.5 0.2 16500 0.575 4.95
1978 2218.3 0.6 0.6 0.2 17700 0.775 5.05
1979 2502.4 0.6 0.6 0.2 22900 0.75 5.08
1980 2725.4 0.6 0.6 0.3 25900 0.56 5.08
1981 3058.6 0.6 0.4 0.1 29700 0.65 5.35
1982 3225.5 0.6 0.7 0.2 32400 0.825 5.40
1983 3442.7 0.5 0.6 0.2 35700 0.625 5.40
1984 3846.7 0.5 0.5 0.1 37800 0.50 5.70
1985 4148.9 0.5 0.4 0.1 39600 0.50 5.70
1986 4406.7 0.5 0.5 0.2 42000 0.50 5.70
1987 4654.4 0.5 0.4 0.2 43800 0.50 5.70
1988 5011.9 0.4 0.4 0.1 45000 0.53 6.06
1989 5401.7 0.4 0.5 0.2 48000 0.53 6.06
1990 5737.0 0.4 0.5 0.2 51300 0.60 6.20
1991 5934.2 0.5 0.5 0.2 53400 0.60 6.20
1992 6240.6 0.5 0.5 0.2 55500 0.60 6.20
1993 6578.4 0.5 0.5 0.2 57600 0.60 6.20
1994 6964.2 0.5 0.5 0.1 60600 0.94 6.20
1995 7325.1 0.6 1.0 0.5 61200 0.94 6.20
1996 7697.4 0.6 0.8 0.7 62700 0.94 6.20
1997 8186.6 0.6 0.7 0.8 65400 0.85 6.20
1998 8626.3 0.6 0.7 0.9 68400 0.85 6.20
1999 9127.0 0.6 0.7 1.0 72600 0.85 6.20
2000 9708.4 0.6 0.8 1.2 76200 0.90 6.20
2001 10040.7 0.6 0.8 1.4 80400 0.90 6.20
2002 10373.4 0.6 0.8 1.5 84900 0.90 6.20
2003 10828.3 0.7 0.8 1.6 87000 0.90 6.20
2004* 11466.0 0.7 0.8 1.6 87900 0.90 6.20
2005* 12042.4 0.7 0.8 1.6 0.90 6.20
2006* 12641.1 0.7 0.8 1.6 0.90 6.20
2007* 13279.1 0.7 0.8 1.7 0.90 6.20
2008* 13972.6 0.7 0.8 1.7 0.90 6.20
2009* 14701.6 0.7 0.8 1.7 0.90 6.20
---------------------------------------------------------------------
*estimated
Source: Budget of the United States Government, FY 2005, Historical
Tables, table 10.1 and 13.1; DI Tax Rate and Maximum Earnings
from 2004 Annual Report of the Board of Trustees of the OASDI
Trust Fund, Table VI.A.1, pages 125-126
Note: DI Tax Rate is paid by employer and employee, each; after 2004,
maximum earnings taxed is based on increases in average wages
Among the points that the above graphs and tables illustrate are the
following:
1) Spending for Old-Age and Survivors Insurance (OAS) generally grew
faster than the GDP up until 1983. Since then, it has dropped
slightly in relation to the GDP (but has continued to outpace
inflation).
2) Spending for Disability Insurance (DI) generally grew faster than
the GDP up until 1977, dropped from then until 1990, then resumed
its faster-than-GDP growth.
3) Despite its recent growth, DI spending is still much lower than OAS
spending. In 2003, DI spending was about 17.9% of OAS spending.
4) The second graph shows a close correlation between the growth in OAS
income as a percent of GDP and the OAS Tax Rate. Likewise, the third
graph shows a close correlation between the growth in DI income as a
percent of GDP and the DI Tax Rate. This may not be too surprising.
Assuming that the wage base is growing at about the same rate as the
GDP, then a constant tax rate should bring in the same percentage of
GDP. This implies that the main reason for the rising OAS and DI Tax
Rates has been to support those programs' above GDP growth.
5) The OAS Trust Fund balance approached zero in 1982. In 1983, $17.5
billion was borrowed from other trust funds (it was repaid in 1985 and
1986), COLAs were deferred for six months, and various other steps
were taken to shore up the fund.
6) The DI Trust Fund balance approached zero in 1994. The percentage
of OASDI taxes allocated to DI was increased to shore up the fund.
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