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CBO Releases a Report on Supplemental Security Income

“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, CBO estimates. This report, Supplemental Security Income: An Overview, discusses how the SSI program works, who receives payments, the program’s spending and its interaction with other government programs, the extent to which SSI affects people’s work and saving, and possible approaches to changing the program.”

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