Social Security’s trust funds may not expire as soon as anticipated under a new projection released by an Ivy League college’s business school.
In a projection released by the Penn Wharton Budget Model on June 11, the Old-Age and Survivors Insurance (OASI) trust fund could be depleted by February 2033, months later than what the trustees had forecast in a report released earlier this month.
The Social Security trustees’ report released on June 9 predicted that the Social Security trust fund would last until the fourth quarter of 2032, spanning October, November, and December. The depletion dates forecast by both the trustee report and Penn Wharton’s analysis assume that Congress would take no action before those dates, respectively….