Tag: CBO
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…
Analysts score the bill similarly, but financial effects vary dramatically. A reporter called recently with a question about the impact of the Social Security 2100 Act, proposed by Representative John Larson (D-CT and Chairman of the House Ways and Means Social Security Subcommittee) and others. Apparently, the Congressional Budget Office (CBO) and the Social Security…
