CBO: Answers to Questions for the Record Following a Hearing on Social Security’s Finances

Report: August 4, 2023.

On July 12, 2023, the Senate Committee on the Budget convened a hearing at which Phillip L. Swagel, the Director of the Congressional Budget Office, testified about Social Security’s finances. After the hearing, Chairman Sheldon Whitehouse, Ranking Member Chuck Grassley, and Senator Ron Wyden submitted questions for the record. This document provides CBO’s answers.

Full Text of Document Providing CBO’s Answers to questions submitted.

Related Publications:

• The Long-Term Budget Outlook Under Alternative Scenarios for the Economy and the Budget
  July 20, 2023
• Testimony on Social Security’s Finances
  July 12, 2023
• CBO’s 2023 Long-Term Projections for Social Security
  June 29, 2023
• CBO’s Long-Term Social Security Projections: Changes Since 2018 and Comparisons With the Social Security Trustees’ Projections
  December 12, 2019

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Established in 1974, The Congressional Budget Office (CBO) is a federal agency within the legislative branch of the United States government.  It is charged with providing  members of Congress  objective  analysis of budgeting and economic issues to support the congressional budget process. Each year, CBO economists and budget analysts produce dozens of reports and hundreds of cost estimates for proposed legislation. This posting includes a summary of Director Swagel’s testimony, a link to the full text of the testimony, and a list of publications that relate to the testimony