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- Report
The Senate Committee on the Budget convened a hearing at which Phillip L. Swagel, CBO's Director, testified about Social Security’s finances. This document provides CBO’s answers to questions submitted for the record.
- Report
CBO analyzed eight scenarios that differ from those underlying the agency’s long-term baseline budget projections—six that vary economic outcomes, one that varies budgetary outcomes, and one that limits Social Security benefits.
- Report
CBO has estimated what the economic and budgetary effects would be if the discretionary funding caps enacted in June 2023 had been those required under H.R. 2811, the Limit, Save, Grow Act of 2023.
- Report
In CBO’s projections, spending for Social Security increases relative to GDP over the next 75 years, and the gap between outlays and revenues widens. If combined, the program’s trust funds would be exhausted in fiscal year 2033.
- Report
The U.S. faces a challenging fiscal outlook in the coming years, according to CBO's projections. Measured as a percentage of GDP, large and sustained deficits lead to high and rising federal debt that exceeds any previously recorded level.
- Report
In response to a request from Chairman Arrington, CBO provides information about the agency’s ongoing work in macroeconomic analysis of legislation, health care modeling, and support for the legislative process.
- Blog Post
CBO will release its long-term budget projections on June 28 and an update to its economic forecast for the next three years on July 31.
- Presentation
Presentation by Mark Hadley, CBO's Chief Operating Officer and General Counsel, for an annual seminar of the European Centre for Parliamentary Research and Documentation.
- Blog Post
CBO is engaged in many efforts to foster transparency, such as providing information to help people understand the federal budget process and the agency’s role in it. This week, CBO released three more primers as part of those efforts.
- Report
Rescissions are provisions of law that cancel budget authority previously provided to federal agencies before it would otherwise expire. This document provides answers to key questions about how CBO estimates savings from rescissions.