CBO’s 2023 Long-Term Projections for Social Security

Congressional Budget Office

No 59184, 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 the large baby-boom generation continues to reach retirement ages. Growth then slows as members of that generation die and people from later generations become eligible for Social Security, but spending continues to rise throughout the 75-year projection period because life expectancy increases. Unlike outlays, revenues for Social Security are projected to remain stable in relation to the size of the economy.

JEL-codes: H50 H55 H60 H68 J26 (search for similar items in EconPapers)
Date: 2023-06-29
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