Now, however, the CBO has determined that Social Security will run cash deficits next year and in 2010, and by 2017 will be more or less in permanent deficit mode. Hot Air has exclusively obtained the summer 2009 CBO report sent to legislators on Capitol Hill but not yet made public, which shows that outgo will exceed income for the first time ever on an annual basis in 2010:
Emphasis mine. Morrissey has the page from the report with those numbers and an explanation of where the problem lies. Questions: what happened to the Democrats’ assertion that this wouldn’t happen until 2040 or beyond? Why is this report not being released to the general public?
Let’s keep an eye on this.