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- Cost Estimate
As posted on the Web site of the Senate Committee on Appropriations on December 12, 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
- 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).
- Cost Estimate
CBO Estimate of the Continuing Appropriations Resolution (H.J.Res. 117), as Introduced in the House and as posted Sept. 10 on the website of the House Committee on Rules.
- 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: