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Policymakers should work together to stabilize and strengthen this important program for generations to come.
The combined Old Age and Survivors’ Insurance and Disability Insurance Trust Funds, commonly referred to as the “Social Security Trust Funds,” will be fully depleted by 2033.
CBO projects that the federal budget deficit will increase as a share of GDP for the first year since 2009.
CBO warns that federal budget deficits will begin rising again soon, and major long-term fiscal challenges remain unaddressed.
The President’s budget for Fiscal Year 2012 contains spending and revenue proposals for the remainder of the current year, as well as the coming decade.
Though the economy continues its recovery and we have made some progress on deficits, our deficits will begin growing again soon, and major long-term fiscal challenges remain.
“The federal government’s fiscal path is unsustainable," warns the Government Accountability Office.