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
The One Big Beautiful Bill Act Is the Most Expensive Reconciliation Package in Recent History
This week, lawmakers in Congress approved reconciliation legislation that will add trillions of dollars to America’s already unsustainable fiscal trajectory
Healthcare Costs Are a Major Driver of the National Debt and Here’s the Biggest Reason Why
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
Despite Decades of Warnings, Depletion of Social Security’s Trust Fund Is Getting Closer
The depletion dates for Social Security and Medicare’s Trust Funds are rapidly approaching.