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Published byBrianna Gaines Modified over 8 years ago
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House Budget Social Security Outlays Fall in Line with CBO Projections Sources: The Path to Prosperity: FY2015 Budget Resolution, 2014; Congressional Budget Office, The Budget and Economic Outlook: Fiscal Years 2014-2024. Analysis As baby boomers begin to retire, the number of people collecting Social Security benefits will increase, which will almost double outlays by 2024, according to the CBO Rep. Paul Ryan’s (R-Wis.) FY2015 House budget plan projects Social Security outlays identical to the Congressional Budget Office’s February 2014 projections
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House Budget Medicare Outlays Less than CBO Projections Sources: The Path to Prosperity: FY2015 Budget Resolution, 2014; Congressional Budget Office, The Budget and Economic Outlook: Fiscal Years 2014-2024. Analysis The CBO projects that Medicare will increase by 77.32% over the next decade due to a surging number of retirees and the expansion of federal subsidies for health insurance Under the House FY2015 budget, Rep. Ryan predicts Medicare outlays will increase by about 66% over the next decade, an increase that is 10 percentage points less than CBO projections
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CBO Projection of Medicaid Outlays Outpace House Budget Projections Sources: The Path to Prosperity: FY2015 Budget Resolution, 2014; Congressional Budget Office, The Budget and Economic Outlook: Fiscal Years 2014-2024. Analysis In the decade ahead, the CBO projects Medicaid outlays will increase by 93% The House FY2015 budget would curb Medicaid outlays, projecting an increase by only 12.6% over the next decade
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