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- Data and Technical Information
This file contains data that supplement information presented in CBO’s 2012 Long-Term projections for Social Security: Additional Information (October 2012).
- Blog Post
CBO estimates that in fiscal year 2012, spending for Social Security totaled $773 billion, equal to about 5 percent of gross domestic product and one-fifth of federal spending. As more members of the baby-boom generation retire and the U.S. population grows older in the coming decades, Social Security outlays are projected to grow more rapidly than the economy and more rapidly than the program’s dedicated tax revenues.
- Report
The 2012 Long-Term Projections for Social Security: Additional Information
- Blog Post
The Social Security Disability Insurance (DI) program has expanded rapidly during the past few decades, and CBO projects that, under current law, future spending for the program will significantly exceed the revenues dedicated to it.
- Graphic
CBO projects that in 2022, the Social Security Disability Insurance program will provide benefits totaling $204 billion to over 12.3 million disabled workers and their dependents.
- Report
The Disability Insurance program provided benefits to 8.3 million disabled workers in 2011. By 2022, CBO projects, the program will provide benefits to over 10 million disabled workers and spending on benefits will exceed $190 billion.
- Blog Post
I was pleased to speak early yesterday with a group of reporters who gather regularly at the invitation of the Christian Science Monitor. (Audio of the event is below.)
- Blog Post
I testified this morning to the House Budget Committee about the Long-Term Budget Outlook that CBO released yesterday. I explained that we had assessed that outlook under two very different assumptions about future policies for federal revenues and spending, and that the budgetary and economic outcomes under those two scenarios would be starkly different. I highlighted two specific implications of the long-term projections:
- Report
Chairman Ryan, Congressman Van Hollen, and Members of the Committee, thank you for inviting me to testify on the Congressional Budget Office’s (CBO’s) most recent analysis of the long-term outlook for the budget and the economy. My statement summarizes the report The 2012 Long-Term Budget Outlook, which CBO released yesterday.
- Blog Post
This morning CBO released the latest in its series of reports on the long-term budget outlook. CBO also published an infographic that highlights the key points of the report. Tomorrow, I will testify on the key findings of the report before the House Budget Committee.