Social Security is the single largest federal program, with outlays of $768 billion in fiscal year 2012. The program has two parts. The Old-Age and Survivors Insurance program pays benefits to retired workers and to their dependents and survivors, and the Disability Insurance program pays benefits to disabled workers and to their spouses and survivors. Social Security benefits are financed by a payroll tax on current workers, half paid by the worker and half paid by the employer. CBO regularly examines various possible changes to Social Security outlays or receipts.
Social Security
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2012 Long-Term Projections for Social SecurityOct 2012 - Over the next 20 years, the population will age and spending on Social Security will increase from about 5 percent of GDP to about 6 percent.
Policy Options for the Social Security Disability Insurance ProgramJul 2012 - 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 total spending on benefits to those workers will exceed $190 billion.
Raising the Ages of Eligibility for Medicare and Social SecurityJan 2012 - This issue brief reviews how ages of eligibility affect beneficiaries under current law and how delaying eligibility would affect beneficiaries, the federal budget, and the economy.
CBO's 2011 Long-Term Projections for Social Security: InfographicAug 2011 - CBO's first infographic summarizes some of the agency's most recent projections for Social Security and provides background information on the program.
Social Security Policy OptionsJul 2010 - Annual spending on Social Security payments will regularly exceed the program's tax revenues starting in 2016, if current laws remain in place. This study examines 30 options for policymakers in providing long-term financial stability for Social Security.
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How CBO Prepares Long-Term Projections of Federal Spending for Social Security and Major Health Care Programs
presentationMay 21, 2013Proposal in the President's Budget Request for Fiscal Year 2014 to Use the Chained CPI
data or technical informationMay 17, 2013Social Security Proposals in the President's Fiscal Year 2014 Budget as Reestimated by CBO
data or technical informationMay 17, 2013SSA Program Integrity, Reestimate of the President’s Budget, May 2013
data or technical informationMay 17, 2013Social Security Trust Fund—May 2013 Baseline
data or technical informationMay 14, 2013Social Security Old-Age and Survivors Insurance—May 2013 Baseline
data or technical informationMay 14, 2013Social Security Disability Insurance—May 2013 Baseline
data or technical informationMay 14, 2013H.R. 807, Full Faith and Credit Act
cost estimateApril 26, 2013
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