In June 2019, CBO updated its long-term budget projections, including projections of the Social Security system’s finances. CBO compares those projections with its 2018 projections and with the Social Security trustees’ latest projections.
In lieu of publishing a separate report providing additional information about CBO’s long-term projections for Social Security, the agency is publishing the data that it would have presented in that report.
If current laws generally remained unchanged, large budget deficits would boost federal debt to unprecedented levels over the next 30 years, CBO projects.
This interactive tool lets the user explore seven policy options that could be used to improve the finances of the Social Security program and delay the exhaustion of its trust funds.
This report and the accompanying interactive tool present CBO’s analysis of whether Social Security benefits enable retired workers to meet their basic needs and the extent to which benefits replace preretirement earnings.
CBO periodically issues a volume of options—this year’s installment presents 121—that would decrease federal spending or increase federal revenues. CBO’s website allows users to filter options by topic, date, and other categories.