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- Blog Post
CBO recently testified about the differences between the traditional CPI and the chained CPI, and this post describes what the chained CPI does differently and what problems that might fix.
- Blog Post
Jeffrey Kling, CBO’s Associate Director for Economic Analysis, discusses his testimony before the Subcommittee on Social Security of the House Committee on Ways and Means.
- Blog Post
CBO estimates that using the chained CPI governmentwide starting in 2014 would reduce the deficit by $340 billion over ten years by lowering benefits for Social Security and other federal programs and by increasing revenues.
- Blog Post
Joyce Manchester, Chief of CBO’s Long-Term Analysis Unit, discusses her testimony on the Social Security Disability Insurance Program before the Subcommittee on Social Security of the House Committee on Ways and Means.
- Blog Post
CBO expects that the share of older people who work will increase in the latter part of this decade in response to the scheduled increase in the full retirement age for Social Security.
- 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.
- 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.
- 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:
- 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.