Long-Term Budget Analysis
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The 2014 Long-Term Budget Outlook
If current laws remained generally unchanged, federal debt held by the public would exceed 100 percent of GDP by 2039 and would be on an upward path relative to the size of the economy—a trend that could not be sustained indefinitely.
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Answers to Questions From Senator Hatch About Various Options for Payroll Taxes and Social Security
CBO examined the implications of various approaches to altering the Social Security payroll tax rates as well as the taxable maximum (the maximum amount of earnings on which those payroll taxes are imposed).
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Budgetary and Economic Outcomes Under Paths for Federal Revenues and Noninterest Spending Specified by Chairman Ryan, April 2014
Under budgetary paths, but not particular policies, specified by Chairman Ryan, total deficits and debt would be smaller than under CBO’s extended baseline. Economic output would be lower in the next few years but higher thereafter.
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Choices for Deficit Reduction: An Update
Federal debt is projected to rise significantly over the long term. What policy changes could reduce future deficits and thus lower the trajectory of federal debt? What criteria might be used to evaluate those policy changes?
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The 2013 Long-Term Projections for Social Security: Additional Information
Spending on the Social Security program will exceed its dedicated tax revenues, on average, by about 12 percent over the next decade, CBO projects. The gap will grow larger in the 2020s and will exceed 30 percent of revenues by 2030.
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Testimony on The 2013 Long-Term Budget Outlook
Testimony before the Committee on the Budget, U.S. House of Representatives.
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The 2013 Long-Term Budget Outlook
Federal debt would grow to 100 percent of GDP by 2038 under current law, CBO projects, and would be on an upward path relative to the size of the economy—a trend that could not be sustained indefinitely.
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Response to Request for Long-Term Analysis of Proposed Policies
Letter to the Honorable Paul Ryan
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The 2012 Long-Term Projections for Social Security: Additional Information
The 2012 Long-Term Projections for Social Security: Additional Information