Social Security
- Report
CBO’s 2016 Long-Term Projections for Social Security: Additional Information
Under current law, CBO projects, Social Security’s trust funds, considered together, will be exhausted in 2029. In that case, benefits in 2030 would need to be reduced by 29 percent from the scheduled amounts.
- Report
Answers to Questions for the Record From Ranking Member Becerra Following a Hearing by the House Ways and Means Subcommittee on Social Security on Understanding Social Security’s Solvency Challenge
The House Ways and Means Subcommittee on Social Security convened a hearing at which CBO’s Director testified on financial shortfalls projected for Social Security. This document provides CBO’s answers to questions submitted for the record.
- Report
Options for Reducing the Deficit: 2017 to 2026
CBO periodically issues a volume of options—this year’s installment presents 115—that would decrease federal spending or increase federal revenues over the next decade. The report is available both as a PDF and in a searchable format.
- Presentation
Comparing CBO’s Long-Term Projections With Those of the Social Security Trustees
Presentation by Julie Topoleski, Chief of the Long-Term Analysis Unit in CBO’s Health, Retirement, and Long-Term Analysis Division, to the Social Security Advisory Board.
- Report
Answers to Questions for the Record From Chairman Johnson Following a Hearing by the House Subcommittee on Social Security, Committee on Ways and Means, on the Comparison of CBO’s Long-Term Projections With Those of the Social Security Trustees
The House Ways and Means Subcommittee on Social Security convened a hearing at which CBO’s Director testified on financial shortfalls projected for Social Security. This document provides CBO’s answers to questions submitted for the record.
- Cost Estimate
H.R. 3779, a bill to restrict the inclusion of Social Security account numbers on documents sent by mail by the federal government, and for other purposes
As passed by the House of Representatives on September 26, 2016
- Report
Testimony on Comparing CBO’s Long-Term Projections With Those of the Social Security Trustees
Both CBO and the Social Security Trustees project a shortfall in Social Security finances but they differ in their assessment of its magnitude. This testimony describes that difference and the major factors that contribute to it.
- Report
An Update to the Budget and Economic Outlook: 2016 to 2026
The deficit under current law is projected to be larger this year, but smaller over the 2017–2026 period, than CBO projected in March. Since January, CBO has reduced its projections of GDP growth and interest rates over the coming decade.
- Blog Post
Spending for Social Security and Major Health Care Programs in The Long-Term Budget Outlook
CBO published its 2016 Long-Term Budget Outlook in July, describing the agency’s projections of federal spending and revenues over the next 30 years. This blog post focuses on the spending of Social Security and major health care programs.
- Presentation
The 2016 Long-Term Budget Outlook in 22 Slides
This slide deck provides a quick overview of CBO's report, The 2016 Long-Term Budget Outlook.