“During the past eight years, the Congressional Budget Office (CBO) has developed a sophisticated long-term microsimulation model known as CBOLT. The agency uses the model to analyze the budgetary and distributional effects of the Social Security program and other federal policies and programs, to evaluate potential reforms to federal entitlement programs, and to quantify the nations long-term fiscal challenges. This background paper provides a short, nontechnical overview of how the CBOLT model works.”
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