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ENT-67
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1993-02-17
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ENT-67 RESTRICT COST-OF-LIVING ADJUSTMENTS IN NON-MEANS-TESTED BENEFIT
PROGRAMS
Annual Savings Cumulative
(Millions of dollars Five-Year
Savings from ----------------------------------------- Savings
CBO Baseline 1994 1995 1996 1997 1998
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Eliminate COLAs for One Year
Social Security/
Railroad Retirement 6,600 8,950 8,900 8,700 8,350 41,500
Other Non-Means-
Tested Programs 1,700 2,350 2,350 2,400 2,500 11,250
Offsets in Means-
Tested Programs and
Medicare Premiums -1,450 -800 -380 -360 -360 -3,350
Total 6,850 10,500 10,900 10,700 10,450 49,400
Limit COLAs to Two-Thirds of the CPI Increase for Five Years
Social Security/
Railroad Retirement 2,200 5,050 7,900 10,800 13,700 39,700
Other Non-Means-
Tested Programs 580 1,350 2,050 2,800 3,650 10,450
Offsets in Means-
Tested Programs and
Medicare Premiums -95 -230 -450 -750 -1,050 -2,600
Total 2,700 6,150 9,550 12,850 16,300 47,550
Limit COLAs to the CPI Increase Minus 2 Percentage Points for Five Years
Social Security/
Railroad Retirement 4,400 10,550 16,800 23,050 29,300 84,100
Other Non-Means-
Tested Programs 1,150 2,750 4,400 6,000 7,850 22,150
Offsets in Means-
Tested Programs and
Medicare Premiums -260 -640 -1,050 -1,650 -2,300 -5,950
Total 5,300 12,650 20,100 27,400 34,800 100,250
Pay the Full COLA on Benefits Below a Certain Level and 50 Percent of the COLA
on Benefits Exceeding That Level for Five Years
Social Security/
Railroad Retirement 0 740 1,750 2,800 3,850 9,150
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NOTE:Reductions in Social Security spending or increases in Social Security
taxes would reduce the total federal deficit and the amount of federal
borrowing from the public. These savings would not be counted, however,
under the pay-as-you-go provisions of the Budget Enforcement Act of 1990.
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