Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output From April 2010 Through June 2010

[Excerpt] The American Recovery and Reinvestment Act of 2009 (ARRA) contains provisions that are intended to boost economic activity and employment in the United States. Section 1512(e) of the law requires the Congressional Budget Office (CBO) to comment on reports filed by recipients of ARRA funding that detail the number of jobs funded through their activities. This CBO report fulfills that requirement. It also provides CBO’s estimates of ARRA’s overall impact on employment and economic output in the second quarter of calendar year 2010. Those estimates—which CBO considers more comprehensive than the recipients’ reports—are based on evidence from similar policies enacted in the past and on the results of various economic models

Updated Long-Term Projections for Social Security

[Excerpt] The Congressional Budget Office (CBO) regularly prepares long-term projections of the future paths of revenues and outlays for the Social Security program. This latest report presents projections for the 75-year period from 2008 through 2082. (All years referred to in this report are calendar years.) The projections differ somewhat from earlier results because of newly available programmatic and economic data, updated assumptions about future demographic and economic trends, and improvements in CBO’s models. Such long-term projections are necessarily uncertain; nevertheless, the general conclusions presented here hold true under a wide range of assumptions

The Effects of a Minimum-Wage Increase on Employment and Family Income

[Excerpt] Increasing the minimum wage would have two principal effects on low-wage workers. Most of them would receive higher pay that would increase their family’s income, and some of those families would see their income rise above the federal poverty threshold. But some jobs for low-wage workers would probably be eliminated, the income of most workers who became jobless would fall substantially, and the share of low-wage workers who were employed would probably fall slightly

Updated Estimates of the Effects of the Insurance Coverage Provisions of the Affordable Care Act, April 2014

[Effects] This report describes the insurance coverage provisions of the ACA and CBO and JCT’s current estimates of the budgetary effects of those provisions. That discussion is followed by an explanation of how and why those estimates differ from the interim estimates in CBO’s February 2014 baseline. The report concludes with a discussion of the ways in which current estimates of the ACA’s coverage provisions differ from those made when the law was enacted in March 2010

Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October 2011 Through December 2011

[Excerpt] The American Recovery and Reinvestment Act of 2009 (ARRA) contains provisions that are intended to boost economic activity and employment in the United States. Section 1512(e) of the law requires the Congressional Budget Office (CBO) to comment on reports filed by recipients of ARRA funding that detail the number of jobs funded through their activities. This CBO report fulfills that requirement. It also provides CBO’s estimates of ARRA’s overall impact on employment and economic output in the fourth quarter of calendar year 2011, as well as over the entire period since February 2009. Those estimates—which CBO considers more comprehensive than the recipients’ reports—are based on evidence from similar policies enacted in the past and on the results of various economic models

CBO\u27s 2011 Long-Term Projections for Social Security: Infographic

[Excerpt] By 2035, the growing number of beneficiaries due to the aging of the baby-boom generation will cause scheduled spending to climb to 6.1 percent of GDP, CBO estimates. However, there is uncertainty inherent in CBO\u27s projections; in 10 percent of the simulations, outlays in 2035 are below 5.3 percent of GDP and in 10 percent they exceed 7.3 percent of GDP. In most simulations, outlays in 2035 are projected to account for a much larger share of GDP than the share in 2010

Long Term Unemployment

[Excerpt] Even in a strong labor market, many people become unemployed for short periods as they enter the labor force or change jobs. But some people take many months to find a job. Over the past several decades, the percentage of unemployment spells lasting more than six months has increased. Such long-term unemployment may result in serious problems for the unemployed individuals themselves as well as for the overall economy. This Congressional Budget Office (CBO) paper—prepared at the request of the Chairmen of the House Budget and House Ways and Means Committees—uses data from a national survey to examine the extent to which unemployment is concentrated among workers who experienced spells lasting more than six months. It also examines the characteristics of those workers, their sources of income, and their subsequent activities. In keeping with CBO’s mandate to provide objective, impartial analysis, this paper makes no recommendations

Supplemental Security Income: An Overview

[Excerpt] In 1974, the federal government established the Supplemental Security Income (SSI) program to provide cash assistance to people who are disabled, aged, or both and who have low income and few assets. SSI replaced several state-run support programs that had been partially financed by the federal government. In fiscal year 2013, the program will make payments to more than 8 million people at a cost to the federal government of about $53 billion, the Congressional Budget Office (CBO) estimates. Currently, about 60 percent of SSI recipients are disabled adults (ages 18 to 64), about 15 percent are disabled children (under age 18), and about 25 percent are aged adults (age 65 or over) with or without disabilities. SSI recipients generally are eligible for health insurance through Medicaid, and many also participate in other income-security programs that provide federal support to low-income people. In coming years, CBO projects that as the economy improves and average Social Security benefits continue to increase, the number of SSI beneficiaries will decline slightly as a share of the population. In addition, SSI payments per recipient are linked to prices, which tend to rise more slowly than GDP per person. As a result of those two factors, CBO projects that total outlays for SSI will decline slightly relative to total output over the next decade, reaching one-quarter of one percent of GDP

Labor Force Experiences of Recent Veterans

[Excerpt] More than 3.8 million members of the U.S. military have left active-duty service since September 2001, a period that some federal agencies call the Gulf War II era (as opposed to the Gulf War I era, which spanned the period from August 1990 to August 2001). More than 2 million of those Gulf War II veterans were deployed in support of military operations in Iraq and Afghanistan. For decades, large federal programs have helped service members make the transition to civilian life and employment by offering unemployment insurance benefits, education assistance, and disability compensation. However, the 2007–2009 recession prompted policymakers to focus greater attention on how well veterans have fared in the civilian labor market during and after that downturn

What Is Happening to Youth Employment Rates?

Cbo11_18_youthemployment.pdf: 155 downloads, before Oct. 1, 2020