Learn More About Working at CBO and the Agency’s Career Opportunities
report
September 17, 2013
read complete document (pdf, 1071 kb)
Retirement
The federal government devotes a substantial and growing share of its budget to benefits for the nation's retirees through Social Security, Medicare, Medicaid, and other programs. According to CBO’s projections, federal spending on the “big three” benefit programs will grow from less than half of all federal spending in 2012 to three-fifths in 2023. CBO projects federal spending for those programs under current law for the next decade and for the longer term, and it analyzes a wide range of proposals to change those programs. (See Health Care for further discussion of CBO’s work on federal health care programs.) Additionally, the exclusion of pension contributions and earnings from taxable income constitutes one of the largest preferences in the federal income tax code. Together with the staff of the Joint Committee on Taxation, CBO analyzes the budgetary and economic effects of such tax preferences and potential changes to them.
Full Text
- printer-friendly version
- screen-friendly version
Supplemental Material
- supplemental data
- Press Briefing on The 2013 Long-Term Budget Outlook
related publications
-
Updated Budget Projections: Fiscal Years 2013 to 2023
May 14, 2013 -
CBO's Baseline Budget Projections, as of May 2013, With Percentages of GDP Updated to Reflect Recent Revisions by the Bureau of Economic Analysis
September 11, 2013 -
Updated Historical Budget Data Following BEA's Recent Update of the National Income and Product Accounts
August 12, 2013
Supplemental Material
- Methods for Analysis of the Financing and Use of Long-Term Services and Supports