To illuminate what the latest economic indicators mean, connect the dots, and discuss how CBO analysis helps policymakers, CBO Director Phillip Swagel joined Peterson Foundation CEO Michael Peterson for the latest Economic Forum.
On the whole, the average retirement age has risen by 3 years since 1990, increasing from 62 to 65. Women, on average, tend to retire earlier than men, but women have seen a larger increase in average retirement age.
GAO projects that debt held by the public could more than double over the next 30 years — rising from around 100 percent of gross domestic product (GDP) at the end of fiscal year 2021 to 217 percent in 2050.
Last year, lawmakers in the House introduced the Improving Medicare Coverage Act in an effort to make healthcare more affordable for older Americans by lowering the age of eligibility for Medicare from 65 to 60.