Selected Economic Variables, Intermediate Cost Assumptions

Table VI.F7.-Selected Economic Variables, Calendar Years 2002-80
Intermediate Cost Assumptions
[GDP and taxable payroll in billions]
Calendar year	Adjusted CPI¹	SSA average wage index²	Taxable payroll³	Gross domestic product	Compound interest-rate factor ⁴


2002	97.70	$33,476.75	$4,213	$10,445	0.9531
2003	100.00	34,730.66	4,387	10,915	1.0000
2004	102.39	36,202.65	4,612	11,518	1.0626
2005	105.15	37,733.96	4,866	12,182	1.1311
2006	108.22	39,338.44	5,140	12,888	1.2044
2007	111.47	41,033.61	5,418	13,625	1.2817
2008	114.81	42,771.99	5,702	14,372	1.3621
2009	118.26	44,566.15	5,994	15,137	1.4468
2010	121.80	46,409.05	6,294	15,925	1.5352
2011	125.45	48,325.83	6,601	16,740	1.6287
2012	129.22	50,293.80	6,911	17,575	1.7279
2013	133.10	52,378.54	7,239	18,437	1.8331
2014	137.09	54,506.61	7,575	19,326	1.9448
2015	141.20	56,704.95	7,923	20,245	2.0632
2016	145.44	59,024.92	8,282	21,196	2.1889
2017	149.80	61,394.02	8,656	22,194	2.3222
2018	154.30	63,879.88	9,045	23,231	2.4636
2019	158.93	66,442.39	9,453	24,320	2.6136
2020	163.69	69,129.89	9,876	25,453	2.7728
2021	168.60	71,946.79	10,318	26,638	2.9417
2022	173.66	74,888.27	10,777	27,873	3.1208
2023	178.87	77,975.60	11,255	29,162	3.3109
2024	184.24	81,132.91	11,753	30,506	3.5125
2025	189.77	84,436.77	12,272	31,911	3.7264
2026	195.46	87,881.55	12,815	33,383	3.9533
2027	201.32	91,466.88	13,383	34,927	4.1941
2028	207.36	95,235.99	13,978	36,547	4.4495
2029	213.58	99,107.07	14,601	38,245	4.7205
2030	219.99	103,181.85	15,253	40,025	5.0080
2031	226.59	107,444.08	15,935	41,893	5.3130
2032	233.39	111,882.81	16,649	43,849	5.6365
2033	240.39	116,541.05	17,395	45,897	5.9798
2034	247.60	121,314.02	18,174	48,040	6.3440
2035	255.03	126,323.87	18,987	50,280	6.7303
2036	262.68	131,535.83	19,837	52,625	7.1402
2037	270.56	136,961.73	20,725	55,078	7.5750
2038	278.68	142,650.08	21,651	57,642	8.0363
2039	287.04	148,489.15	22,617	60,320	8.5257
2040	295.65	154,612.31	23,622	63,113	9.0450
2041	304.52	160,985.23	24,670	66,030	9.5958
2042	313.65	167,618.78	25,763	69,077	10.1802
2043	323.06	174,571.60	26,900	72,257	10.8002
2044	332.76	181,724.53	28,086	75,575	11.4579
2045	342.74	189,219.39	29,320	79,037	12.1557
2046	353.02	196,995.91	30,603	82,647	12.8959
2047	363.61	205,085.39	31,940	86,418	13.6813
2048	374.52	213,547.32	33,334	90,354	14.5145
2049	385.75	222,260.38	34,786	94,465	15.3984
2050	397.33	231,372.27	36,302	98,759	16.3362
2051	409.25	240,810.36	37,878	103,238	17.3311
2052	421.52	250,651.33	39,524	107,925	18.3865
2053	434.17	260,962.30	41,241	112,822	19.5063
2054	447.20	271,643.59	43,034	117,943	20.6942
2055	460.61	282,819.44	44,906	123,302	21.9545
2056	474.43	294,376.75	46,860	128,908	23.2915
2057	488.66	306,414.07	48,903	134,777	24.7100
2058	503.32	319,007.07	51,036	140,917	26.2148
2059	518.42	332,113.72	53,261	147,334	27.8113
2060	533.97	345,826.67	55,582	154,043	29.5050
2061	549.99	359,993.70	58,004	161,055	31.3019
2062	566.49	374,739.60	60,530	168,384	33.2081
2063	583.49	390,136.64	63,167	176,048	35.2305
2064	600.99	406,164.72	65,913	184,049	37.3760
2065	619.02	422,895.04	68,778	192,407	39.6522
2066	637.59	440,279.78	71,766	201,144	42.0671
2067	656.72	458,338.25	74,879	210,266	44.6290
2068	676.42	477,158.45	78,127	219,800	47.3469
2069	696.72	496,762.06	81,512	229,756	50.2303
2070	717.62	517,152.80	85,037	240,146	53.2893
2071	739.15	538,357.92	88,712	250,999	56.5346
2072	761.32	560,433.30	92,545	262,340	59.9776
2073	784.16	583,427.06	96,540	274,185	63.6302
2074	807.68	607,375.73	100,705	286,557	67.5053
2075	831.91	632,286.63	105,046	299,479	71.6164
2076	856.87	658,207.44	109,573	312,978	75.9778
2077	882.58	685,185.53	114,296	327,088	80.6049
2078	909.06	713,283.42	119,220	341,829	85.5137
2079	936.33	742,544.34	124,355	357,230	90.7215
2080	964.42	772,985.34	129,710	373,322	96.2464

¹ The CPI used to adjust OASDI benefits is the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI), as defined by the Bureau of Labor Statistics, Department of Labor. The values shown are adjusted by dividing the calendar-year annual average CPI by the analogous value for 2003, and multiplying the result by 100, thereby initializing the CPI at 100 for 2003.
² The "SSA average wage index" is defined in section 215(i)(1)(G) of the Social Security Act; it is used in the calculations of initial benefits and the automatic adjustment of the contribution and benefit base and other wage-indexed program amounts.
³ Taxable payroll consists of total earnings subject to OASDI contribution rates, adjusted to reflect the lower effective contribution rates (compared to the combined employee-employer rate) which apply to multiple-employer "excess wages."
⁴ The compound interest-rate factor is based on the average of the assumed annual interest rates for special public-debt obligations issuable to the trust funds in the 12 months of the year, under each alternative.


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