Social Security: The Trust Fund Reserve Accumulation, the Economy, and the Federal Budget
Abstract
This GAO report discusses the current financing plan for the social security trust funds, as well as the funds' relationship to the federal budget and the long-term health of the economy. GAO also discusses policy options with respect to the scheduled accumulation of trust fund reserves. This document summarizes GAO's analysis and conclusions which are based on a review of major studies, social security projections, and discussions with experts. Details of the analysis are presented in the appendixes. In 1988, three major Congressional committees held hearings to receive expert testimony on the implications of reserve accumulation and possible policy responses. In addition, two expert seminars were held to discuss the results of technical studies commissioned by the public members of the Board of Trustees of the Old-Age, Survivors' and Disability Insurance (OASDI) program. These studies explored economic, financial, and budget policy implications of the accumulation of large reserves. The focus of social security program debates has changed, away from threatened insolvency in the 1970s and early 1980s and toward the accumulating surpluses.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 19, 1989
- Accession Number
- ADA204168
Entities
Organizations
- United States Government Accountability Office