That’s what Jed Graham of Investors Business Daily crunches out of the latest budget numbers from the CBO. Says Jed:
CBO's updated financial path for Social Security runs through fiscal 2025, in which year the program's benefits are projected to exceed its tax revenues by $359 billion, up from a $73 billion shortfall in 2014, as the $2.8 trillion trust fund shrinks to $1.6 trillion.
Plugging in CBO's long-term Social Security projections detailed in December for 2026 and later leaves little doubt that its estimates now put the trust fund's depletion in the fall of 2029. A similar analysis correctly predicted that CBO would move up the trust fund's end date by two years (to 2031) in 2013.
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