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The projected shortfall for next year is nearly $650m.
Social Security's projected shortfall date is moved up to 2033.
The projected shortfall is 2.67% of taxable earnings over the next 75 years.
Removing it would take care of about 90% of the projected shortfall.
The decline, the council said, would increase the projected shortfall to $964 million, from $698 million.
Doing so would fully address the projected shortfall for 75 years.
Officials said the projected shortfall was caused by decreased revenue, increased expenditures and stagnant employment growth.
The projected shortfall had been $441 million, but was lowered after the toll increase in September.
The newest projected shortfall is the third revised estimate this year.
That projected shortfall prompted them to seek "alternative models," they added.
Some states, like Washington, where the projected shortfall is now about $1 billion, are getting punched with airline industry layoffs.
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