A report released today by the Congressional Budget Office (CBO) reveals that the Social Security trust fund is actually in better shape than previously thought. CBO now projects the trust fund won’t run out until 2038, a slight improvement over previous estimates and a reassuring reminder of the fund’s solvency for the next several decades. In the ongoing battle over deficit reduction, Republicans have insisted on deep cuts to Social Security, even though the program doesn’t contribute to the deficit.
Earlier we inadvertently linked to an October 2010 report. Today, CBO released numbers affirming the Social Security trust fund’s solvency through 2038.