| Abstract: | To summarize the major points I have covered: The Social Security and Medicare trust funds are carefully held and monitored by three five member boards of trustees, and each board has two members who represent the public's interest. The combined Social Security trust funds are well financed for many years into the future; however, there is reason to monitor the financing for the disability insurance trust fund; and actions will in all likelihood ultimately be required to assure the long-term financial integrity of the combined OASDI programs over the next 75 years. The Medicare trust funds are adequately financed for the short term; however, the HI program faces serious mid- and long-range financing problems that must be addressed. As a result, there is a strong need for Congress to take remedial action to improve the financing and provide an adequate contingency reserve for the program. |
