CBO’s 2022 Long-Term Projections for Social Security

Congressional Budget Office

No 58564, Reports from Congressional Budget Office

Abstract: In CBO's projections, spending for Social Security increases rapidly in relation to gross domestic product over the next decade as members of the large baby-boom generation retire. That growth then slows as members of that generation die, but spending continues to rise throughout the 75-year projection period because of increases in life expectancy. Unlike outlays, revenues for Social Security remain stable in relation to the size of the economy. If the program’s trust funds were combined, their exhaustion date would be in 2033.

JEL-codes: H50 H55 H60 H68 J26 (search for similar items in EconPapers)
Date: 2022-12-16
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