The Congressional Budget Office has released its latest projections for the financial health of the Social Security program. Among the highlights:
- DI Trust Fund exhausted in 2016
- OASI TF exhausted in 2038
- Combined OASDI trust fund exhausted in 2034
- The 75-year imbalance is 2.4% of taxable payroll
- Payable benefits will be 19% lower than scheduled benefits
These projections are similar to those made by Social Security’s Trustees as part of their annual report.