Social Security

Social Security is the largest federal program, paying benefits to retired workers and their dependents and survivors through the Old-Age and Survivors Insurance program and to disabled workers and their dependents through the Disability Insurance program. Those benefits are financed primarily by payroll taxes. CBO projects Social Security’s finances under current law and analyzes a wide variety of possible changes to the law.

Report
CBO’s Long-Term Social Security Projections: Changes Since 2018 and Comparisons With the Social Security Trustees’ Projections
December 12, 2019
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.
Report
CBO’s 2019 Long-Term Projections for Social Security: Additional Information
September 12, 2019
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.
Report
The 2019 Long-Term Budget Outlook
June 25, 2019
If current laws generally remained unchanged, large budget deficits would boost federal debt to unprecedented levels over the next 30 years, CBO projects.
Interactive
How Changing Social Security Could Affect Beneficiaries and the System's Finances
April 24, 2019
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.
Report
Social Security Replacement Rates and Other Benefit Measures: An In-Depth Analysis
April 16, 2019
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.
Report
Options for Reducing the Deficit: 2019 to 2028
December 13, 2018
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.