Social Security Facing $63 Trillion in Unfunded Liabilities

Findings complement other reports identifying the fiscal deterioration of Social Security.

A person wearing a mask stands outside a Social Security Administration building in Burbank, Calif., on Nov. 5, 2020. VALERIE MACON/AFP via Getty Images

Social Security is facing $63 trillion in long-term unfunded liabilities, according to the 2024 Old-Age, Survivors, Disability Insurance (OASDI) trustees report.

The report looked at two things: how much money will be missing indefinitely and how much will be missing in the next 75 years. The report determined that there will be a permanent $62.8 trillion deficit and about a $23 trillion shortage for the next 75 years.