CBO: How Will Older People’s Participation in the Labor Force Be Affected by the Coming Increase in the Full Retirement Age for Social Security?

 

How Will Older People’s Participation in the Labor Force Be Affected by the Coming Increase in the Full Retirement Age for Social Security?

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CBO expects that the share of older people who work will increase in the latter part of this decade in response to the scheduled increase in the full retirement age (FRA) for Social Security. As a result, economic output will be slightly greater and budget deficits slightly smaller than would otherwise be the case. This blog entry explains CBO’s estimate of the effect of the change in Social Security on the size of the U.S.

 

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