Each year, CBO updates its projections of the Social Security system’s finances. Compared with projections made in June 2017, the agency’s latest projections indicate a slight improvement in the financial outlook for Social Security. The projected 75-year actuarial balance remains at −1.5 percent of gross domestic product (that is, a deficit of 1.5 percent). As a percentage of taxable payroll, the projected actuarial balance has improved slightly from −4.5 percent to −4.4 percent. CBO also compares its projections with those of the Social Security Trustees. CBO projects larger deficits in Social Security’s finances than do the Social Security Trustees.

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