Social Security expenditures are expected to exceed tax revenues by 2018 and the Social Security trust fund is projected to be exhausted by 2042, according to the 2004 report released in March by the program's trustees. Both projections are unchanged from 2003.

The shortfall in Social Security funding projected over an infinite horizon is $10.4 trillion, slightly less than the 2003 projection.

The full report is available on the Social Security Administration Web site.