Would Using the Budget Surplus for Tax Cuts Or Entitlement Expansions Affect Long-term Social Security Solvency? |
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available for private baby boom baby boomers billion CATHERWOOD LIBRARY CBO director June CBO projects Congressional Budget Office CORNELL UNIVERSITY cut taxes cuts or entitlement cuts or program cuts or spending decline director June O'Neill elderly entitlement expansions federal budget federal government Gross Domestic Product Herbert Stein Insurance Trust Funds interest payments large numbers legislation is enacted long-term forecast long-term Social Security Medicare national debt national income needed to restore Old-Age and Survivors payroll tax revenues percent of GDP percent of national policymakers private investment projected budget surpluses projected surpluses reduce the debt retires in large Revised Baseline Budget Security payroll tax Security trust funds Shore Up Social shrink the debt shrinking the national Social Security benefits Social Security legislation Social Security payroll Social Security revenue Social Security solvency Social Security surpluses Social Security trust spending increases stronger economic growth substantial SURPLUS FOR TAX tax cuts Treasury securities trillion unified budget