On April.22, The Bipartisan Policy Center Revised their Social Security Depletion Estimates to 2029…

“Based on these assumptions, we estimate that another economic downturn with severity and impacts similar to the Great Recession would accelerate the depletion date of the OASI trust fund reserves from 2034 (projected in this year’s trustees’ report) to 2029, the depletion date of the DI trust fund reserves from 2065 to 2024, and the depletion date of the combined (OASDI) trust fund reserves from 2035 to 2029 (see Figure 1-3). We emphasize that these are preliminary estimates that will be revised in a forthcoming report. If trust fund reserves were depleted, benefits could be paid only from program revenues, triggering a cut of 31% in retirement benefits and 16% in disability benefits.” Read more

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