Expenditure Modules
Modeling federal outlays across defense, other discretionary programs, and mandatory spending.
Social Security
Social Security expenditures are modeled through PWBM's dedicated Social Security Module, which provides highly detailed benefit projections using PWBM demographics.
Other Expenditures
Federal outlays encompass defense, other discretionary programs such as infrastructure, and mandatory programs such as Medicare. Starting from historical federal outlays as measured by the Office of Management and Budget (OMB), this spending evolves in accordance with PWBM demographic and macroeconomic projections.
Mandatory spending distribution is derived from surveys such as the Current Population Survey (CPS), Consumer Expenditure Survey (CE), and Panel Study of Income Dynamics (PSID).