Social Security Trust Fund to Run Out of Money by 2034: CBO

Voters view Social Security as a top issue heading into the November election.

A Social Security card sits alongside checks from the U.S. Treasury in Washington on Oct. 14, 2021. Kevin Dietsch/Getty Images

A trust fund for Social Security is scheduled to run out of money by 2034 as benefits exceed tax revenues, according to new estimates from the nonpartisan Congressional Budget Office (CBO).

The budget watchdog released the latest report assessing the financial state of the retirement program over the next 75 years.