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Committee for a Responsible Federal Budget
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Hot off the presses: See our detailed analysis of today's Social Security Trustees report
Today, the Social Security and Medicare Trustees released their annual reports on the financial status of each program. The projections show that both programs are in dangerous fiscal positions and prompt action is necessary to secure these programs. This analysis focuses specifically on the Social Security Trustees report. Based on that report, this analysis finds:
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We've been online since 2003 but we just updated our look. Visit the new http://crfb.org/.
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We turn 35 today. That means we are old enough to remember several fiscal accomplishments we all could learn from.
The Committee for a Responsible Federal Budget was incorporated on June 10, 1981. Our 35th birthday is a good occasion to look back at some of the major fiscal accomplishments of our time and what can be learned from them. [[{"fid":"4728","view_mode":"default","fields":{"format":"default","field_file_image_alt_text[und][0][value]":"","field_file_image_title_text[und][0][value]":""},"type":"media","attributes":{"style":"width: 550px; height: 471px...
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We've completely revamped our website. Our wealth of knowledge is now easier than ever to access. Check out the new http://www.crfb.org/ for the latest federal budget and fiscal policy news and analysis.
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Targeted benefit enhancements for Social Security recipients who need them most certainly should be considered in the context of a reform plan, and indeed they have been included in a number of bipartisan plans put forward in recent years. But before advocating for broad expansions that would increase overall costs, policymakers must recognize that both costs and benefits are already growing rapidly.
In a speech in Elkhart, Indiana on Wednesday, President Obama discussed retirement security, saying, "We can’t afford to weaken Social Security. We should be strengthening Social Security.
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Keep track of the appropriations process with our tracker. It will be updated as spending bills progress. http://crfb.org/blogs/appropriations-watch-fy-2017
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We tackle some common Social Security myths today in +RealClearPolicy.
There’s an old saying that Social Security is the third rail of American politics — touch it and you die. That’s unfortunate, given that Social Security is on a path towards...
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The Trustees continue to show that Social Security is headed towards insolvency and faces a large and growing shortfall. They project that the Social Security Disability Insurance (SSDI) trust fund, whose insolvency was delayed due to the budget agreement passed last year, will run out in 2023, and the combined Social Security trust fund will run out in 2034.
The Social Security and Medicare Trustees have released their reports on the financial state of their respective programs. With regards to Social Security, the Trustees continue to show that the program is headed towards insolvency and faces a large and growing shortfall.
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Today is our 35th birthday. We are now old enough to become president. How's this for a yard sign?
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See some of the important fiscal developments we've seen in our time and what we can learn from them http://crfb.org/blogs/crfb-turns-35-we-are-old-enough-remember-when.
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We've come a long way since we went online in 2003. Check out our new website at http://crfb.org/. ‪#‎tbt‬
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Paul Krugman doesn't tell the whole story about interest in his recent blog. Interest on the debt is projected to be the fastest growing part of our budget over the next decade because of rising debt.
In a recent blog, New York Times columnist and economist Paul Krugman criticized Donald Trump's recent suggestion that he'll "negotiate forgiveness on U.S. debt." We too have questioned that
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I agree that we should focus on interest rates, current and future. I also wanted to note that the President's latest budget also projects rapidly rising interest rates. As can be seen at http://www.econdataus.com/outgdp17.html , that budget projects that net interest will rise from the current 1.3% of GDP to 2.5% of GDP by 2021. By the way, which CBO projections are you using? According to the one at https://www.cbo.gov/sites/default/files/51119-2015-06-LongTermBudgetProjections.xlsx , net interest is projected to rise from to 3.1% of GDP by 2026 and to 4.9%, 6.1%, and 7.5% of GDP by 2050, 2070, and 2090, respectively. I see that those are from June 2015 and wanted to use the latest ones available.

As recently as fiscal year 2015, the U.S. budget carried a table titled "LONG-RUN BUDGET PROJECTIONS" that showed projected receipts, outlays, deficits, and debt for about 70 years into the future. You can see the FY 2015 version in Table 3-1 on page 25 at https://www.whitehouse.gov/sites/default/files/omb/budget/fy2015/assets/spec.pdf . However, it was dropped from the FY 2016 version at https://www.whitehouse.gov/sites/default/files/omb/budget/fy2016/assets/spec.pdf and the most recent one at https://www.whitehouse.gov/sites/default/files/omb/budget/fy2017/assets/spec.pdf . This dropping of uncomfortable information has happened under both parties. I believe that it was in the FY 2003 budget under Bush the budget went from projecting for 10 years to projection for 5 years. This was precisely when the future projections turned down. In any case, keep up the good work on trying to educate the public to these facts.
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Introduction
The Committee for a Responsible Federal Budget is a bipartisan, non-profit organization committed to educating the public about issues that have significant fiscal policy impact. The Committee is made up of some of the nation's leading budget experts including many of the past Chairmen and Directors of the Budget Committees, the Congressional Budget Office, the Office of Management and Budget, the Government Accountability Office, and the Federal Reserve Board.