Social Security 2012 Update from Congressional Budget Office

October 2nd, 2012
in econ_news, syndication

CBO estimates that in fiscal year 2012, spending for Social Security totaled $773 billion, equal to about 5 percent of gross domestic product and one-fifth of federal spending. This report presents additional information about the long-term projections of the Social Security program's finances that were included in June in CBO's The 2012 Long-Term Budget Outlook.

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