Insights for Navigating an Uncertain World
“The advanced insolvency date appears to be driven in part by lower revenue as a result of wage income losses incurred from the COVID-19 pandemic (though total income including government benefits increased). However, the long-term deterioration relative to the last Trustees report – that is the 0.33 percentage point increase in 75-year shortfall – can almost entirely be attributed to changes in methodology and programmatic data.”
Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times. View more posts