Social Security Better Off Than Forecast

Running a Surplus, Good until 2052

In its first comprehensive analysis of Social Security's finances, the budget office said the program was currently running a surplus. But it also said that as baby boomers retire, "outlays will continually grow faster than revenues, resulting in significant annual deficits."

In its latest report, in March, the Bush administration said the Social Security trust fund would be exhausted in 2042. By contrast, the Congressional Budget Office said it would not be depleted until 2052

The results of the study by the nonpartisan budget office are significant because President Bush has strongly suggested that given Social Security's problems, he will make a major effort to overhaul the system if he is re-elected.