The Financial Condition of the Social Security and Medicare Trust Funds
The Financial Condition of the Social Security and Medicare Trust Funds
The Social Security and Medicare Trustees Reports were released on August 5, 2010. The reports — which were delayed by over three months in order to incorporate the impacts of the new health care reform law — provide both the short-and long-term financial outlooks for the trust funds. The two largest entitlement programs face growing financial challenges which will directly impact the overall federal budget. Demographic changes and rising health care costs pose a threat to the sustainability of these programs. Reforms will be necessary to address the increasing demand. To read a statement by Peter G. Peterson Foundation President and CEO, David Walker, click here.
PGPF provides a brief discussion of the updated financial outlooks of the Social Security and Medicare trust funds as well as their budget implications. For general information on trust funds click here.
Further Reading
How Much Do We Spend on the Federal Workforce?
Here, we examine the federal government’s expenditure on its workforce, the evolution of its size over time, and the opportunities for budget savings.
What Are Interest Costs on the National Debt?
Interest costs are on track to become the largest category of spending in the federal budget.
The One Big Beautiful Bill Act Is the Most Expensive Reconciliation Package in Recent History
The legislative package will be the most expensive reconciliation bill in a quarter of a century and will add trillions of dollars to the U.S. debt.