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
Social Security Faces Serious Financial Shortfalls and Other Takeaways From the Trustees Report
Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.
Social Security and Medicare Trust Funds Could Be Depleted Within the Next Decade
Today, the Social Security and Medicare Trustees released their annual reports on the programs’ financing, showing that the future of these vital programs remain at risk.
What Are Earmarks and What Purpose Do They Serve?
Earmarks have been controversial, but nevertheless were reinstated by Congress in 2021 after a 10-year moratorium.