Social Security Trust Fund Expected To Be Depleted by 2032: How Big the Benefit Cuts Could Be If Congress Does Nothing

In its Budget and Economic Outlook: 2026 to 2036 report, the Congressional Budget Office projected that the Social Social Security Old-Age and Survivors Insurance trust fund will run out of money in 2032.

If the projection is correct and Congress fails to act, Social Security benefits could decrease 7% for the remainder of that year, and 28% from 2033 through 2036. That equals an initial cut of about $145 per month, increasing to $580 per month, for someone receiving the average retirement benefit of $2,071.