Social Security Faces Serious Financial Shortfalls, and Other Takeaways from the Trustees Report
Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.
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Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.
Despite a growing economy and low unemployment, federal budget deficits are projected to grow over the next 10 years.
https://www.pgpf.org/blog/2019/01/five-charts-that-summarize-cbos-budget-and-economic-outlook
The Treasury projects that debt as a percentage of GDP will grow to more than five times the size of the U.S. economy in the next 75 years.
https://www.pgpf.org/blog/2024/03/delaying-fiscal-reform-is-costly-annual-treasury-report-warns
Today, the Social Security and Medicare Trustees released their annual reports on the programs’ financing, showing that the future of these vital programs remain at risk.
https://www.pgpf.org/blog/2024/05/social-security-and-medicare-are-facing-serious-shortfalls
As CBO celebrates its 40th anniversary, there is a key opportunity for policymakers to reaffirm their support for the independence of this agency.
https://www.pgpf.org/blog/analysis-congressional-budget-offices-40th-anniversary
The new numbers demonstrate the severe economic damage and significant fiscal implications of this unprecedented crisis.
This piece examines spending on veterans within the budget and outlines the factors that have pushed it higher in recent years.
https://www.pgpf.org/blog/2024/04/spending-on-veterans-in-the-budget
The President's budget includes a number of tax proposals that would increase revenues and reduce spending by $4.3 trillion over the next 10 years.
It’s important for lawmakers to consider the many available policy options for improving that outlook.
https://www.pgpf.org/blog/2018/12/121-ways-we-can-reduce-the-deficit-according-to-cbo
CBO’s report is the latest warning sign about the dire fiscal outlook.