Donald Trump (Photo:AP)

The Trump administration's 2021 budget proposal projects robusteconomic growth over the next decade, and in turn higher payrollreceipts that would shrink Social Security's swelling deficit.

The budget proposal, released Monday, projects Real GrossDomestic Product will be 2.8 percent in 2020 and 3.1 percent in2021. From 2022 to 2025, the proposal projects 3 percent GDPgrowth, ultimately settling at 2.8 percent in 2030.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.