Tag: CBO projections
It’s good policy and would restore confidence in America’s most important program. Recently, the Congressional Budget Office (CBO) released its budget projections. Unsurprisingly, the outlook is dismal. And it is somewhat more dismal than last year. The net result is that deficits as a percentage of GDP will rise from 5.8 percent in 2026 to…
We know what we are dealing with, and can take steps to address it. The key metric used to summarize Social Security’s financial status is the 75-year deficit. This number is the present discounted value of scheduled taxes (plus the existing trust fund) minus the present discounted value of scheduled benefits divided by the present…