A new report from the Heritage Foundation finds that, historically, estimates of the solvency of Social Security have been overly optimistic.

As Heritage economics analyst Rachel Greszler writes:

This year’s Social Security trustees report was released with little fanfare, as the projected date of Social Security’s financial insolvency held steady at 2033. Many analysts and lawmakers have pointed to 20 years of alleged solvency as an excuse to delay meaningful Social Security reform. However, if history is any guide to future solvency, the Social Security program could become insolvent much sooner than 2033.