Social Security
- Cost Estimate
H.R. 3800, the Chronic Disease Flexible Coverage Act
As ordered reported by the House Committee on Ways and Means on
June 7, 2023 - Cost Estimate
H.R. 3801, the Employer Reporting Improvement Act
As ordered reported by the House Committee on Ways and Means on
June 7, 2023 - Blog Post
CBO Issues Schedule for Release of Long-Term Budget Projections and Economic Update
CBO will release its long-term budget projections on June 28 and an update to its economic forecast for the next three years on July 31.
- Report
Answers to Questions for the Record Following a Hearing on Social Security’s Finances
The Subcommittee on Social Security of the House Committee on Ways and Means convened a hearing at which Phillip L. Swagel, CBO's Director, testified. This document provides CBO’s answers to questions submitted for the record.
- Presentation
Long-Term Projections of Health Care Spending and the Implications for the Federal Budget
Presentation by Julie Topoleski, Director of CBO’s Labor, Income Security, and Long-Term Analysis Division, at the 15th Annual Meeting of the OECD’s Working Party of Parliamentary Budget Officials and Independent Fiscal Institutions.
- Report
An Evaluation of CBO’s Projections of Outlays From 1984 to 2021
In this report, CBO uses various measures to assess the quality of its past projections of federal outlays. The analysis focuses on three fiscal years within each projection period: the budget year, the 6th year, and the 11th year.
- Report
Testimony on Social Security’s Finances
CBO’s Director, Phillip Swagel, testifies about the agency’s projections of Social Security’s finances before the House Ways and Means Committee’s Subcommittee on Social Security.
- Report
The Budget and Economic Outlook: 2023 to 2033
In CBO’s projections, the federal deficit totals $1.4 trillion in 2023 and averages $2.0 trillion per year from 2024 to 2033. Real GDP growth comes to a halt in 2023 and then rebounds, averaging 2.4 percent from 2024 to 2027.
- Report
The Demographic Outlook: 2023 to 2053
In CBO’s projections, the U.S. population increases from 336 million people in 2023 to 373 million people in 2053. Population growth is increasingly driven by net immigration, which accounts for all population growth beginning in 2042.
- Report
CBO’s 2022 Long-Term Projections for Social Security
In CBO’s projections, spending on Social Security exceeds revenues to the program in 2022 and increases relative to GDP over the next 75 years, while revenues remain stable. If combined, the program’s trust funds would be exhausted in 2033.