[ZNPaaneah]

According to a new report from the Congressional Budget Office (CBO), the average federal deficit is now expected to hit an eye-popping $1.2 trillion per year between 2020 and 2029—a total of $12.2 trillion over that period.

That’s $809 billion higher than the CBO’s estimate just a few months ago thanks to Congress’s latest budget deal.

The new deficit figures are amplifying fears among some retirement security experts about an inevitable blow to critical entitlement programs. First and foremost: Social Security, which is already dancing on the knife’s edge of insolvency.

“If nothing is done, the [Social Security] Trust Fund is depleted in 2035,” Edelman Financial Engines executive chairman Ric Edelman told Yahoo Finance’s YFi PM. He appeared as part of Yahoo Finance’s ongoing partnership with the Funding Our Future campaign, a group of organizations advocating for increased retirement security for Americans.

Edelman said the depletion of the Social Security Trust Fund would likely trigger a catastrophic sequence of events.

“At that point, under current law, all beneficiaries — everybody getting Social Security checks — will get a check that’s 23% smaller. This could push millions of American retirees into bankruptcy,” he warned.

Compare the growth of Bitcoin in value to the decrease in value of the US dollar. Since 2009 Bitcoin has grown from $0.10 each to $11,000 each. At that rate by 2021 it will surpass the US dollar in market cap.