CBO Projects Social Security Will Be Drained By 2037: Do You Think The Next Generation Will See a Solvent Social Security System?

The nonpartisan Congressional Budget Office projects that if Congress does not act Social Security will run deficits every year until it eventually runs dry in about 2037. Once its $2.5 trillion surplus hits zero in 2037 the program would collect enough money to repay about 78 percent of benefits. This year the program is projected to take in $45 billion less in payroll taxes than it pays out, a number that grows to $130 billion when the new one-year cut in payroll taxes is included. Congress...Full Story
Commenting on this article is closed.