By 2050, one-fifth of the U.S. population will be age 65 or older, up from 12 percent in 2000 and 8 percent in 1950. As a result, expenditures on long-term services and supports for the elderly will rise substantially in the coming decades.
CBO Blog
Buyers of new electric vehicles receive federal tax credits of up to $7,500. How do the credits compare to the total lifetime cost of owning those vehicles and to the reduction in gasoline use and greenhouse gas emissions from driving them?
Spending on means-tested programs and tax credits for low-income households has grown in the past 40 years because of increases in the number of program participants and growth in spending per participant.
CBO and the staff of the Joint Committee on Taxation (JCT) estimate that enacting S. 744 would generate changes in direct spending and revenues that would decrease federal budget deficits by $197 billion over the 2014–2023 period.
In a letter today to the Chairs and Ranking Members of the House and Senate Budget Committees, we described the schedule for the rest of the year for CBO’s key economic and budget publications.
The Treasury is currently at its limit on borrowing and has begun employing its well-established toolbox of measures to allow continued borrowing for a limited time. When will those measures be exhausted?
The interest rate for subsidized student loans is currently scheduled to double from 3.4 percent to 6.8 percent on July 1, 2013. What would be the budgetary impact of changing interest rates for student loans?
The federal government ran a budget deficit of $627 billion from October 2012 through May 2013 (the first eight months of fiscal year 2013), according to CBO’s estimates.
People eligible for both Medicare and Medicaid benefits—known as “dual-eligible beneficiaries”—are a varied group, but many have extensive health care needs and account for a disproportionate share of spending on Medicare and Medicaid.
In 2013, the benefits of 10 of the largest tax expenditures will equal 11.7 percent of income for households in the lowest income quintile, 9.4 percent for the highest quintile, and under 8 percent for the middle quintiles, CBO estimates.