Social Security Trust Fund Projected to Deplete in 2032, One Year Earlier Than Previously Estimated
The Congressional Budget Office (CBO) has updated its projection for the Social Security Old-Age and Survivors Insurance (OASI) Trust Fund to be depleted by 2032, one year earlier than the 2025 Trustees' Report estimated. This change is attributed to factors such as the Social Security Fairness Act, which increased benefits and reduced revenue, as well as economic and demographic shifts. The report highlights the urgency of addressing the funding shortfall.
Topics: Congressional Budget Office funding depletion policy changes Social Security