“Social Security is the federal governments largest single program, and as the U.S. population grows older in the coming decades, its cost is projected to increase more rapidly than its revenues. As a result, under current law, resources dedicated to the program will become insufficient to pay full benefits in 2039, the Congressional Budget Office (CBO) projects. Long-run sustainability for the program could be attained through various combinations of raising taxes and cutting benefits; such changes would also affect the Social Security taxes paid and the benefits received by various groups of people. This CBO study examines a variety of approaches to changing Social Security…”
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