The Congressional Budget Office (CBO) released a new report that estimates the benefit payment schedule of the Social Security program, saying that the Old-Age and Survivors Insurance (OASI) Trust Fund will “decline to zero” in fiscal year 2034 and the Disability Insurance (DI) Trust Fund will do the same in 2064.

The report is based on testimony offered by Molly Dahl, CBO’s chief of long-term analysis, before the U.S. Senate budget committee.

This is generally consistent with prior forecasts, but other exhaustion timelines in recent years have floated between 2034 and 2035. CBO details ⇒

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