On November 13, the Fiscal Year 2014 Budget Conference Committee held its second public meeting. Congressional Budget Office (CBO) director Doug Elmendorf presented on CBO’s budget and economic outlook and answered questions. Committee Members inquired about numerous budget issues including spending for entitlement programs (Social Security, Medicaid, and Medicare), investments to spur job creation, income inequality, and overall federal spending and revenues. The Committee’s recommendations are due by December 13. View the archived webcast.
Shortly afterwards, CBO released its report “Options for Reducing the Deficit: 2014-2023” which include numerous options for spending cuts and increased revenue and the estimated costs of those options. The list includes a number of options that would be harmful to people with disabilities, including eliminating Supplemental Security Income (SSI) benefits for children; reducing Social Security benefits for new beneficiaries by 15%; using an alternative measure of inflation (the “chained” consumer price index (CPI)) to index Social Security and other mandatory programs; and raising the full retirement age for Social Security.