Social Security is the single largest federal program, with outlays of $725 billion in fiscal year 2011. 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 SecurityOver 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 ProgramThe 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 SecurityThis 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.
Social Security Policy OptionsAnnual 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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As the Population Ages, Social Security’s Spending Is Projected to Outpace Its Tax Revenues
blog postOctober 2, 2012The 2012 Long-Term Projections for Social Security: Additional Information
reportOctober 2, 2012Supplemental Data for CBO's 2012 Long-Term Projections for Social Security
data or technical informationOctober 2, 2012CBO Releases Report on Policy Options for the Social Security Disability Insurance Program
blog postJuly 16, 2012Policy Options for the Social Security Disability Insurance Program
reportJuly 16, 2012The Social Security Disability Insurance Program - Infographic
imageJuly 16, 2012Breakfast with Reporters
blog postJune 14, 2012CBO Testified on the Long-Term Budget Outlook
blog postJune 6, 2012
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