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.
What are the challenges in estimating the number of people who would purchase health insurance in the nongroup (or individual) market under proposals to replace the current tax-based subsidies with refundable tax credits?
In addition to describing how CBO defines and estimates health insurance coverage for people under 65, the agency explains its sources of data, their limitations, and how it adjusts for those limitations in preparing its estimates.
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.
The federal budget deficit was $179 billion for the first two months of fiscal year 2017, CBO estimates, $22 billion less than the one recorded during the same period last year.