[Historical Tables]
[Section 13 - Social Security and Medicare]
[Table 13.1 - Cash Income, Outgo, and Balances of the Social Security and Medicare Trust Funds: 1936-2011]
[From the U.S. Government Printing Office, www.gpo.gov]
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011
(in millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1936 1937 1938 1939 1940 1941 1942 1943 1944 1945
--------------------------------------------------------------------------------------------------------------------------------------------------------
Old age and survivors insurance fund:
Cash income:
Social insurance and retirement receipts........ ........ 265 387 503 550 688 896 1,130 1,292 1,310
Intragovernmental receipts:
Interest (903)................................ ........ 2 15 27 42 56 71 87 103 124
---------------------------------------------------------------------------------------------------
Total cash income........................... ........ 267 402 530 592 744 967 1,218 1,395 1,434
===================================================================================================
Cash outgo:
Benefit payments................................ ........ * 5 14 16 64 110 149 185 240
Administrative expenses......................... ........ ........ ........ ........ 12 27 27 27 33 27
---------------------------------------------------------------------------------------------------
Total cash outgo............................ ........ * 5 14 28 91 137 177 217 267
===================================================================================================
Surplus or deficit (-)............................ ........ 267 397 516 564 653 830 1,041 1,178 1,167
Fund balance, end of year......................... ........ 267 664 1,180 1,745 2,398 3,227 4,268 5,446 6,613
===================================================================================================
Invested balance.................................. ........ 267 662 1,177 1,738 2,381 3,202 4,237 5,409 6,546
Uninvested balance................................ ........ * 2 3 7 17 26 31 38 67
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011--Continued
(in millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1946 1947 1948 1949 1950 1951 1952 1953 1954 1955
--------------------------------------------------------------------------------------------------------------------------------------------------------
Old age and survivors insurance fund:
Cash income:
Social insurance and retirement receipts........ 1,238 1,459 1,616 1,690 2,106 3,120 3,594 4,097 4,589 5,081
Intragovernmental receipts:
Employer share, employee retirement (952)..... ........ ........ ........ ........ ........ ........ ........ ........ 1 6
Interest (903)................................ 148 163 191 230 257 287 334 387 439 438
Other......................................... ........ * 1 3 4 4 4 ........ 12 10
---------------------------------------------------------------------------------------------------
Total intragovernmental receipts............ 148 164 191 233 260 291 337 387 452 454
Other cash income............................... ........ ........ ........ ........ ........ ........ * * * *
---------------------------------------------------------------------------------------------------
Total cash income........................... 1,386 1,623 1,807 1,924 2,367 3,411 3,932 4,483 5,040 5,535
===================================================================================================
Cash outgo:
Benefit payments................................ 321 426 512 607 727 1,498 1,982 2,627 3,276 4,333
Administrative expenses......................... 37 41 47 53 57 70 85 89 89 103
Other outgo (mainly for vocational ........ ........ ........ ........ ........ ........ ........ ........ -* ........
rehabilitation)................................
---------------------------------------------------------------------------------------------------
Total cash outgo............................ 358 466 559 661 784 1,569 2,067 2,717 3,364 4,436
===================================================================================================
Surplus or deficit (-)............................ 1,028 1,157 1,248 1,263 1,583 1,843 1,864 1,766 1,677 1,098
Fund balance, end of year......................... 7,641 8,798 10,047 11,310 12,893 14,736 16,600 18,366 20,040 21,141
===================================================================================================
Invested balance.................................. 7,549 8,742 9,937 11,231 12,645 14,323 16,273 17,818 19,337 20,580
Uninvested balance................................ 93 56 110 79 248 413 327 549 703 560
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.
[[Page 282]]
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011--Continued
(in millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1956 1957 1958 1959 1960 1961 1962 1963 1964 1965
--------------------------------------------------------------------------------------------------------------------------------------------------------
Old age and survivors insurance fund:
Cash income:
Social insurance and retirement 6,425 6,457 7,138 7,418 9,671 11,104 11,267 13,117 15,242 15,567
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 18 83 130 147 171 189 203 224 260 263
(952)..............................
Interest (903)...................... 487 555 555 543 516 530 539 512 539 583
Other............................... 7 5 2 * 1 1 2 2 3 3
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 513 644 687 690 688 720 744 738 801 849
Other cash income..................... * * * * * * * * * *
-------------------------------------------------------------------------------------------------------------
Total cash income................. 6,938 7,101 7,825 8,109 10,360 11,824 12,011 13,856 16,043 16,417
=============================================================================================================
Cash outgo:
Benefit payments...................... 5,361 6,515 7,875 9,049 10,270 11,185 12,658 13,845 14,579 15,226
Payments to the railroad retirement ......... ......... ......... 124 600 332 361 423 403 436
account..............................
Administrative expenses............... 124 150 166 206 203 236 252 263 303 300
Other outgo (mainly for vocational ......... ......... -* -3 -3 -22 9 1 -1 3
rehabilitation)......................
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 5,485 6,665 8,041 9,377 11,069 11,730 13,279 14,531 15,284 15,965
=============================================================================================================
Surplus or deficit (-).................. 1,452 436 -216 -1,268 -710 94 -1,268 -675 760 452
Fund balance, end of year............... 22,593 23,029 22,813 21,545 20,835 20,929 19,662 18,987 19,746 20,198
=============================================================================================================
Invested balance........................ 22,041 22,263 21,765 20,478 19,756 19,553 18,456 17,633 18,325 18,783
Uninvested balance...................... 552 766 1,048 1,066 1,079 1,376 1,206 1,354 1,421 1,415
=============================================================================================================
Disability insurance trust fund:
Cash income:
Social insurance and retirement ......... 332 911 878 970 1,005 1,004 1,058 1,124 1,156
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement ......... 5 15 17 17 17 18 18 19 19
(952)..............................
Interest (903)...................... ......... 1 16 33 47 61 70 70 68 65
Other............................... ......... ......... ......... ......... 27 ......... ......... ......... ......... .........
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. ......... 6 31 51 91 78 88 88 87 85
Other cash income..................... ......... ......... ......... ......... ......... ......... ......... ......... ......... *
-------------------------------------------------------------------------------------------------------------
Total cash income................. ......... 339 942 928 1,061 1,083 1,092 1,145 1,211 1,241
=============================================================================================================
Cash outgo:
Benefit payments...................... ......... ......... 168 339 528 704 1,011 1,171 1,251 1,392
Payments to the railroad retirement ......... ......... ......... ......... ......... 5 11 20 19 24
account..............................
Administrative expenses............... ......... 1 12 21 32 36 66 69 70 82
Other outgo (mainly vocational ......... ......... -* -* * -1 * * -2 *
rehabilitation)......................
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. ......... 1 180 360 560 745 1,089 1,259 1,339 1,498
=============================================================================================================
Surplus or deficit (-).................. ......... 337 762 568 501 338 3 -114 -128 -258
Fund balance, end of year............... ......... 337 1,099 1,667 2,168 2,505 2,509 2,394 2,266 2,009
=============================================================================================================
Invested balance........................ ......... 325 1,055 1,607 2,101 2,386 2,407 2,278 2,141 1,878
Uninvested balance...................... ......... 12 45 60 66 119 102 116 125 131
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.
[[Page 283]]
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011--Continued
(in millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1966 1967 1968 1969 1970 1971 1972 1973 1974 1975
--------------------------------------------------------------------------------------------------------------------------------------------------------
Old age and survivors insurance fund:
Cash income:
Social insurance and retirement 17,556 22,197 22,265 25,484 29,396 31,354 35,132 40,703 47,778 55,207
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 310 370 397 469 559 561 579 615 677 810
(952)..............................
Interest (903)...................... 588 725 896 1,009 1,346 1,617 1,718 1,846 2,039 2,292
Other............................... 7 79 78 382 442 449 488 475 442 447
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 905 1,174 1,371 1,859 2,347 2,627 2,785 2,936 3,157 3,549
Other cash income..................... * * 4 4 3 1 * * * *
-------------------------------------------------------------------------------------------------------------
Total cash income................. 18,461 23,371 23,641 27,348 31,746 33,982 37,916 43,639 50,935 58,756
=============================================================================================================
Cash outgo:
Benefit payments...................... 18,071 18,886 20,737 23,732 26,267 31,101 34,541 42,170 47,849 54,839
Payments to the railroad retirement 444 508 438 491 579 613 724 783 909 982
account..............................
Administrative expenses............... 254 334 449 465 474 552 582 667 723 848
Other outgo (mainly for vocational 1 1 * 2 1 2 1 3 2 8
rehabilitation)......................
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 18,770 19,729 21,624 24,690 27,320 32,268 35,848 43,623 49,483 56,676
=============================================================================================================
Surplus or deficit (-).................. -309 3,642 2,017 2,657 4,426 1,714 2,068 16 1,452 2,080
Fund balance, end of year............... 19,889 23,531 25,548 28,205 32,631 34,345 36,413 36,429 37,881 39,961
=============================================================================================================
Invested balance........................ 17,925 21,780 23,250 26,235 30,121 31,375 33,203 35,501 37,717 39,892
Uninvested balance...................... 1,964 1,751 2,298 1,971 2,510 2,970 3,211 928 164 69
=============================================================================================================
Disability insurance trust fund:
Cash income:
Social insurance and retirement 1,530 2,204 2,651 3,469 4,063 4,490 4,775 5,381 6,147 7,250
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 27 45 48 63 78 79 78 80 87 106
(952)..............................
Interest (903)...................... 54 67 83 140 221 324 388 434 482 512
Other............................... ......... 16 16 32 16 16 50 51 52 52
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 81 128 147 235 315 419 516 565 621 670
Other cash income..................... * * 2 1 1 1 * * * .........
-------------------------------------------------------------------------------------------------------------
Total cash income................. 1,611 2,332 2,800 3,705 4,380 4,910 5,291 5,946 6,768 7,920
=============================================================================================================
Cash outgo:
Benefit payments...................... 1,721 1,861 2,088 2,443 2,778 3,381 4,046 5,162 6,159 7,630
Payments to the railroad retirement 25 31 20 21 10 13 24 20 22 29
account..............................
Administrative expenses............... 184 99 112 134 149 190 212 247 154 253
Other outgo (mainly vocational 2 7 15 15 16 21 28 39 49 71
rehabilitation)......................
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 1,931 1,997 2,237 2,613 2,954 3,606 4,309 5,467 6,384 7,982
=============================================================================================================
Surplus or deficit (-).................. -321 335 564 1,092 1,426 1,305 982 479 384 -62
Fund balance, end of year............... 1,688 2,024 2,587 3,679 5,105 6,410 7,392 7,871 8,255 8,192
=============================================================================================================
Invested balance........................ 1,465 1,835 2,351 3,492 4,835 6,078 7,012 7,803 8,195 8,158
Uninvested balance...................... 224 189 236 187 270 332 380 68 60 35
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.
[[Page 284]]
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011--Continued
(in millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1966 1967 1968 1969 1970 1971 1972 1973 1974 1975
--------------------------------------------------------------------------------------------------------------------------------------------------------
Hospital insurance trust fund:
Cash income:
Social insurance and retirement 893 2,645 3,493 4,398 4,755 4,874 5,205 7,603 10,551 11,252
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 16 60 65 79 91 87 85 121 147 166
(951)..............................
Interest (902)...................... 6 46 61 96 139 183 190 198 408 614
Other............................... ......... 338 284 771 628 874 551 429 499 529
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 22 444 410 946 859 1,144 826 748 1,054 1,309
Other (mainly proprietary) receipts:
Premium income...................... ......... ......... ......... ......... ......... ......... ......... ......... 4 6
Other............................... ......... * * * * * * * * 1
-------------------------------------------------------------------------------------------------------------
Total cash income................. 915 3,089 3,902 5,344 5,614 6,018 6,031 8,352 11,610 12,568
=============================================================================================================
Cash outgo:
Benefit payments...................... ......... 2,508 3,736 4,654 4,804 5,442 6,108 6,648 7,806 10,353
Administrative expenses............... 64 89 79 104 149 149 166 193 258 256
Other................................. ......... ......... ......... ......... * 1 1 1 1 2
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 64 2,597 3,815 4,758 4,953 5,592 6,276 6,842 8,065 10,612
=============================================================================================================
Surplus or deficit (-).................. 851 492 87 586 661 426 -244 1,510 3,545 1,956
Fund balance, end of year............... 851 1,343 1,431 2,017 2,677 3,103 2,859 4,369 7,914 9,870
=============================================================================================================
Invested balance........................ 786 1,298 1,370 2,001 2,653 3,030 2,884 4,222 7,864 9,761
Uninvested balance...................... 65 45 60 15 24 73 -25 146 49 109
=============================================================================================================
Supplementary medical insurance trust
fund:
Cash income:
Intragovernmental receipts:
Interest (902).................... ......... 14 21 23 12 17 29 45 76 106
Federal contributions and other... ......... 623 634 984 928 1,245 1,365 1,430 2,029 2,330
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts ......... 637 655 1,008 940 1,263 1,394 1,476 2,105 2,435
Premium income:
From aged participants............ ......... 647 698 903 936 1,253 1,340 1,427 1,579 1,750
From States and other participants ......... ......... ......... ......... ......... ......... ......... ......... 125 151
-------------------------------------------------------------------------------------------------------------
Total premium income............ ......... 647 698 903 936 1,253 1,340 1,427 1,704 1,901
Other............................... ......... * * * * * * * * .........
-------------------------------------------------------------------------------------------------------------
Total cash income................. ......... 1,284 1,353 1,911 1,876 2,516 2,734 2,902 3,809 4,336
=============================================================================================================
Cash outgo:
Benefit payments...................... ......... 664 1,390 1,645 1,979 2,035 2,255 2,391 2,874 3,765
Administrative expenses............... ......... 134 143 195 217 248 289 246 409 404
Other................................. ......... ......... ......... ......... ......... * * * * *
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. ......... 798 1,532 1,840 2,196 2,283 2,544 2,637 3,283 4,170
=============================================================================================================
Surplus or deficit (-).................. ......... 486 -179 71 -321 233 191 265 526 166
Fund balance at end of year............. ......... 486 307 378 57 290 481 746 1,272 1,438
=============================================================================================================
Invested balance........................ ......... 479 281 358 13 257 478 700 1,231 1,378
Uninvested balance...................... ......... 7 25 20 44 33 3 46 41 60
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.
[[Page 285]]
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011--Continued
(in millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1976 TQ 1977 1978 1979 1980 1981 1982 1983 1984
--------------------------------------------------------------------------------------------------------------------------------------------------------
Old age and survivors insurance fund:
Cash income:
Social insurance and retirement 58,703 15,886 68,032 73,141 83,410 96,581 117,757 122,840 128,972 150,312
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 852 220 863 906 948 1,027 1,259 1,406 1,534 1,852
(952)..............................
Interest (903)...................... 2,344 80 2,279 2,151 1,920 1,886 2,015 1,707 1,396 2,752
Other............................... 425 ......... 614 613 615 557 540 675 18,683 8,400
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 3,621 300 3,756 3,670 3,483 3,470 3,814 3,788 21,613 13,004
Other cash income..................... 3 * 8 * * * * * * *
-------------------------------------------------------------------------------------------------------------
Total cash income................. 62,327 16,186 71,795 76,811 86,893 100,051 121,572 126,629 150,586 163,315
=============================================================================================================
Cash outgo:
Benefit payments...................... 62,140 16,876 71,271 78,524 87,592 100,615 119,413 134,655 148,312 155,846
Payments to the railroad retirement 1,212 ......... 1,208 1,589 1,448 1,442 1,585 1,793 2,251 2,404
account..............................
Interest payments..................... ......... ......... ......... ......... ......... ......... ......... ......... 1,544 2,565
Administrative expenses............... 935 234 993 1,086 1,077 1,160 1,302 1,475 1,552 1,585
Other outgo (mainly for vocational 9 1 7 6 12 10 4 6 330 6
rehabilitation) \1\..................
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 64,296 17,110 73,479 81,205 90,129 103,227 122,304 137,929 153,989 162,406
=============================================================================================================
Surplus or deficit (-).................. -1,969 -924 -1,683 -4,394 -3,236 -3,176 -733 -11,300 -3,403 909
=============================================================================================================
Borrowing or repayment (-) of borrowing ......... ......... ......... ......... ......... ......... ......... ......... 17,519 .........
from other trust funds.................
Fund balance, end of year............... 37,992 37,068 35,384 30,990 27,754 24,578 23,845 12,545 26,661 27,570
=============================================================================================================
Invested balance........................ 37,968 37,055 35,410 30,967 27,328 23,577 23,255 11,932 25,503 27,224
Uninvested balance...................... 25 13 -25 23 426 1,000 590 614 1,158 346
=============================================================================================================
Disability insurance trust fund:
Cash income:
Social insurance and retirement 7,686 2,130 8,786 12,250 14,584 16,628 12,418 20,626 18,348 15,763
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 111 29 114 154 166 177 171 240 244 192
(952)..............................
Interest (903)...................... 468 13 372 251 305 454 273 363 449 558
Other............................... 90 ......... 103 128 142 129 130 168 2,866 1,299
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 669 42 589 533 612 760 574 772 3,559 2,049
Other cash income..................... * ......... * * * * * * * *
-------------------------------------------------------------------------------------------------------------
Total cash income................. 8,355 2,172 9,374 12,784 15,196 17,388 12,992 21,398 21,907 17,812
=============================================================================================================
Cash outgo:
Benefit payments...................... 9,222 2,555 11,135 12,214 13,428 14,899 16,853 17,399 17,588 17,735
Payments to the railroad retirement 26 ......... -* 30 30 ......... 29 26 28 22
account..............................
Administrative expenses............... 266 71 378 327 402 334 402 572 659 585
Interest payments..................... ......... ......... ......... ......... ......... ......... ......... ......... 13 77
Other outgo (mainly vocational 92 27 77 84 84 99 -4 37 4 40
rehabilitation)......................
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 9,606 2,653 11,590 12,655 13,944 15,332 17,280 18,035 18,291 18,459
=============================================================================================================
Surplus or deficit (-).................. -1,251 -481 -2,216 128 1,252 2,057 -4,288 3,363 3,615 -647
=============================================================================================================
Lending (-) or repayment of loans to ......... ......... ......... ......... ......... ......... ......... ......... -5,081 .........
OASI fund..............................
Fund balance, end of year............... 6,941 6,460 4,245 4,373 5,625 7,682 3,394 6,757 5,291 4,644
=============================================================================================================
Invested balance........................ 6,931 6,453 4,242 4,352 5,583 7,674 3,392 6,753 5,288 4,656
Uninvested balance...................... 10 7 3 21 43 7 2 4 2 -12
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.
[[Page 286]]
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011--Continued
(in millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1976 TQ 1977 1978 1979 1980 1981 1982 1983 1984
--------------------------------------------------------------------------------------------------------------------------------------------------------
Hospital insurance trust fund:
Cash income:
Social insurance and retirement 11,987 3,457 13,474 16,668 19,874 23,217 30,340 34,301 35,641 40,262
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 175 45 175 206 228 249 332 397 1,054 1,306
(951) \2\..........................
Interest (902)...................... 716 12 771 797 883 1,061 1,325 1,873 1,656 1,686
Interest from OASI.................. ......... ......... ......... ......... ......... ......... ......... ......... 1,028 1,337
Other............................... 658 ......... 944 860 907 871 834 1,015 4,541 1,106
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 1,549 57 1,890 1,863 2,018 2,182 2,490 3,285 8,279 5,435
Other (mainly proprietary) receipts:
Premium income...................... 8 2 11 12 17 17 21 25 26 35
Other............................... * ......... * * 1 * * * 3 *
-------------------------------------------------------------------------------------------------------------
Total cash income................. 13,544 3,516 15,374 18,543 21,910 25,415 32,851 37,611 43,949 45,732
=============================================================================================================
Cash outgo:
Benefit payments...................... 12,267 3,314 14,906 17,415 19,898 23,793 28,909 34,344 38,102 41,461
Administrative expenses............... 308 88 295 442 443 486 333 510 519 632
Interest on normalized transfers...... ......... ......... ......... ......... ......... ......... ......... ......... 27 187
Other................................. 4 1 7 4 1 8 7 10 -97 15
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 12,579 3,404 15,207 17,862 20,343 24,288 29,248 34,864 38,551 42,295
=============================================================================================================
Surplus or deficit (-).................. 966 112 167 681 1,567 1,127 3,603 2,747 5,398 3,437
=============================================================================================================
Lending (-) or repayment of loans to ......... ......... ......... ......... ......... ......... ......... ......... -12,437 .........
OASI fund..............................
Fund balance, end of year............... 10,836 10,948 11,115 11,796 13,363 14,490 18,093 20,840 13,800 17,237
=============================================================================================================
Invested balance........................ 10,942 11,009 10,974 11,757 13,164 14,656 18,191 20,800 13,514 16,982
Uninvested balance...................... -106 -62 141 39 199 -166 -99 40 286 255
=============================================================================================================
Supplementary medical insurance trust
fund:
Cash income:
Intragovernmental receipts:
Interest (902).................... 104 4 137 229 363 416 384 473 680 807
Federal contributions and other... 2,939 878 5,053 6,386 6,841 6,932 8,747 13,323 14,238 16,811
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts 3,043 882 5,190 6,614 7,204 7,347 9,132 13,796 14,918 17,618
Premium income:
From aged participants............ 1,769 492 1,987 2,186 2,373 2,637 2,987 3,460 3,834 4,463
From States and other participants 168 46 206 245 263 291 332 371 393 444
-------------------------------------------------------------------------------------------------------------
Total premium income............ 1,937 539 2,193 2,431 2,636 2,928 3,319 3,831 4,227 4,907
Other............................... * ......... * * * * * * 1 *
-------------------------------------------------------------------------------------------------------------
Total cash income................. 4,980 1,421 7,383 9,045 9,840 10,275 12,451 17,627 19,147 22,526
=============================================================================================================
Cash outgo:
Benefit payments...................... 4,671 1,269 5,865 6,852 8,259 10,144 12,345 14,806 17,487 19,475
Administrative expenses............... 528 132 475 494 544 594 889 746 823 899
Other................................. 1 * 2 4 1 8 7 7 6 .........
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 5,200 1,401 6,342 7,350 8,805 10,746 13,240 15,559 18,317 20,374
=============================================================================================================
Surplus or deficit (-).................. -220 20 1,041 1,696 1,035 -471 -789 2,068 830 2,151
Fund balance at end of year............. 1,219 1,239 2,279 3,975 5,010 4,539 3,750 5,818 6,648 8,799
=============================================================================================================
Invested balance........................ 1,230 1,244 2,232 4,021 4,974 4,558 3,821 5,874 6,958 9,117
Uninvested balance...................... -12 -5 47 -45 36 -19 -72 -56 -310 -318
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.
[[Page 287]]
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011--Continued
(in millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1985 1986 1987 1988 1989 1990 1991 1992 1993 1994
--------------------------------------------------------------------------------------------------------------------------------------------------------
Old age and survivors insurance fund:
Cash income:
Social insurance and retirement 169,822 182,518 194,541 220,337 240,595 255,031 265,503 273,137 281,735 302,607
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 2,288 2,608 3,011 4,000 4,432 5,038 5,242 5,508 5,796 5,787
(952)..............................
Interest (903)...................... 3,537 3,698 4,495 6,758 10,649 15,125 19,164 22,557 25,822 28,505
Other............................... 6,639 7,544 5,447 5,501 5,819 4,405 5,838 5,949 5,967 5,378
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 12,465 13,850 12,953 16,259 20,900 24,568 30,244 34,015 37,585 39,670
Other cash income..................... * * 30 * * * * * 4 *
-------------------------------------------------------------------------------------------------------------
Total cash income................. 182,287 196,368 207,525 236,596 261,495 279,599 295,747 307,152 319,325 342,278
=============================================================================================================
Cash outgo:
Benefit payments...................... 165,422 174,364 182,055 192,541 204,648 218,957 236,120 251,317 264,582 276,291
Payments to the railroad retirement 2,310 2,585 2,557 2,790 2,845 2,969 3,375 3,148 3,353 3,420
account..............................
Interest payments..................... 2,293 1,013 625 836 989 982 418 ......... -* .........
Administrative expenses............... 1,588 1,610 1,542 1,730 1,658 1,566 1,747 1,824 2,026 1,876
Military service credit adjustment.... ......... ......... ......... ......... ......... ......... 2,114 ......... ......... .........
Other outgo (mainly for vocational * ......... ......... -* ......... * * ......... * .........
rehabilitation)......................
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 171,614 179,572 186,780 197,897 210,141 224,475 243,774 256,290 269,960 281,586
=============================================================================================================
Surplus or deficit (-).................. 10,673 16,797 20,745 38,700 51,354 55,125 51,972 50,862 49,364 60,691
=============================================================================================================
Borrowing or repayment (-) of borrowing -4,364 -13,155 ......... ......... ......... ......... ......... ......... ......... .........
from other trust funds.................
Fund balance, end of year............... 33,879 37,521 58,266 96,966 148,320 203,445 255,417 306,280 355,644 416,335
=============================================================================================================
Invested balance........................ 30,971 36,948 58,356 97,137 148,565 203,717 255,557 306,524 355,510 413,425
Uninvested balance...................... 2,908 573 -89 -171 -245 -271 -140 -244 134 2,911
=============================================================================================================
Disability insurance trust fund:
Cash income:
Social insurance and retirement 16,348 17,711 18,861 21,154 23,071 26,625 28,382 29,289 30,199 32,419
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 221 249 289 382 426 529 562 593 620 622
(952)..............................
Interest (903)...................... 580 631 795 657 745 866 1,058 1,080 966 698
Other............................... 912 1,586 167 266 335 302 133 217 279 310
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 1,714 2,466 1,251 1,306 1,506 1,697 1,753 1,890 1,865 1,631
Other cash income..................... * * 3 * ......... * * * 2 *
-------------------------------------------------------------------------------------------------------------
Total cash income................. 18,062 20,177 20,115 22,460 24,577 28,322 30,135 31,179 32,065 34,049
=============================================================================================================
Cash outgo:
Benefit payments...................... 18,654 19,526 20,421 21,395 22,516 24,306 26,871 30,360 33,588 36,823
Payments to the railroad retirement 43 68 57 61 88 80 82 58 83 106
account..............................
Administrative expenses............... 603 600 738 803 747 707 785 843 932 1,018
Interest payments..................... 69 45 60 80 95 100 45 ......... ......... .........
Military service credit adjustment.... ......... ......... ......... ......... ......... ......... 775 ......... ......... .........
Other outgo (mainly vocational 3 4 15 21 40 38 34 34 38 37
rehabilitation)......................
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 19,372 20,243 21,290 22,360 23,487 25,230 28,592 31,295 34,641 37,984
=============================================================================================================
Surplus or deficit (-).................. -1,310 -66 -1,175 100 1,090 3,091 1,543 -116 -2,576 -3,935
=============================================================================================================
Lending (-) or repayment of loans to 2,540 2,541 ......... ......... ......... ......... ......... ......... ......... .........
OASI fund..............................
Fund balance, end of year............... 5,874 8,349 7,174 7,273 8,364 11,455 12,998 12,881 10,305 6,371
=============================================================================================================
Invested balance........................ 5,704 8,335 7,193 7,345 8,428 11,505 13,105 12,918 10,237 6,100
Uninvested balance...................... 170 14 -19 -72 -65 -50 -107 -36 69 271
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.
[[Page 288]]
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011--Continued
(in millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1985 1986 1987 1988 1989 1990 1991 1992 1993 1994
--------------------------------------------------------------------------------------------------------------------------------------------------------
Hospital insurance trust fund:
Cash income:
Social insurance and retirement 44,871 51,335 55,992 59,859 65,396 68,556 72,842 79,108 81,224 90,062
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 1,449 1,604 1,700 1,884 2,007 2,153 2,205 2,324 2,375 2,440
(951) \2\..........................
Interest (902)...................... 2,016 2,809 3,994 5,169 6,603 7,943 8,992 10,054 10,581 10,593
Interest from OASI.................. 1,207 383 ......... ......... ......... ......... ......... ......... ......... .........
Federal Payment (OASI taxes)........ ......... ......... ......... ......... ......... ......... ......... ......... ......... 1,639
Other............................... 1,348 254 999 1,045 1,070 798 631 706 495 608
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 6,020 5,049 6,693 8,098 9,679 10,894 11,828 13,084 13,450 15,280
Other (mainly proprietary) receipts:
Premium income...................... 38 40 40 42 42 113 367 484 622 852
Other............................... * * 9 * ......... * * * 1 1
-------------------------------------------------------------------------------------------------------------
Total cash income................. 50,928 56,424 62,735 67,999 75,117 79,563 85,038 92,677 95,297 106,195
=============================================================================================================
Cash outgo:
Benefit payments...................... 47,710 48,867 49,804 51,862 57,317 65,722 68,486 80,584 90,535 101,350
Administrative expenses............... 813 667 827 707 805 774 937 1,187 866 1,235
Interest on normalized transfers...... 13 ......... ......... ......... ......... ......... ......... ......... ......... .........
Military service credit adjustment.... ......... ......... ......... ......... ......... ......... 1,100 ......... ......... .........
Other................................. 131 151 172 160 116 190 218 200 203 185
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 48,667 49,685 50,803 52,730 58,238 66,687 70,742 81,971 91,604 102,770
=============================================================================================================
Surplus or deficit (-).................. 2,261 6,739 11,932 15,270 16,880 12,876 14,296 10,706 3,693 3,425
=============================================================================================================
Lending (-) or repayment of loans to 1,824 10,613 ......... ......... ......... ......... ......... ......... ......... .........
OASI fund..............................
Transfer of CHI balances................ ......... ......... ......... ......... ......... ......... ......... ......... 1,805 .........
Fund balance, end of year............... 21,322 38,674 50,606 65,876 82,755 95,631 109,927 120,633 126,131 129,555
=============================================================================================================
Invested balance........................ 21,176 38,340 50,779 66,078 82,689 96,249 109,327 120,647 126,078 128,716
Uninvested balance...................... 146 334 -173 -202 66 -617 600 -13 52 840
=============================================================================================================
Supplementary medical insurance trust
fund:
Cash income:
Individual income taxes \3\........... ......... ......... ......... ......... 527 -527 ......... ......... ......... .........
Intragovernmental receipts:
Interest (902) \3\................ 1,154 1,228 1,019 828 1,025 1,427 1,627 1,716 1,888 2,116
Federal contributions and other... 17,898 18,076 20,299 25,418 30,712 33,210 34,730 38,684 44,227 38,355
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts 19,052 19,304 21,318 26,246 31,737 34,637 36,358 40,400 46,114 40,471
Premium income:
From aged participants............ 5,042 5,200 5,897 7,963 10,603 10,499 10,741 11,564 13,255 15,212
From States and other participants 482 500 582 793 945 995 1,066 1,184 1,428 1,683
-------------------------------------------------------------------------------------------------------------
Total premium income............ 5,524 5,699 6,480 8,756 11,548 11,494 11,807 12,748 14,683 16,895
Other \4\........................... -* * * * ......... 3 1 1 1 2
-------------------------------------------------------------------------------------------------------------
Total cash income................. 24,576 25,004 27,797 35,002 43,812 45,607 48,166 53,149 60,799 57,367
=============================================================================================================
Cash outgo:
Benefit payments...................... 21,808 25,166 29,932 33,677 36,854 41,450 45,456 48,595 52,398 57,997
Administrative expenses \3\........... 923 1,051 900 1,265 1,450 1,524 1,507 1,658 1,845 1,718
Other................................. ......... ......... 5 4 13 47 58 32 11 10
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 22,730 26,217 30,837 34,947 38,316 43,022 47,021 50,285 54,254 59,724
=============================================================================================================
Surplus or deficit (-).................. 1,846 -1,214 -3,039 55 5,495 2,585 1,145 2,863 6,545 -2,357
Transfer of CHI balances................ ......... ......... ......... ......... ......... ......... ......... ......... -1,805 .........
Fund balance at end of year............. 10,645 9,431 6,392 6,447 11,942 14,527 15,672 18,535 23,276 20,919
=============================================================================================================
Invested balance........................ 10,736 9,424 6,166 6,326 11,928 14,286 16,241 18,534 23,268 21,489
Uninvested balance...................... -91 7 226 121 15 241 -569 2 8 -570
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.
[[Page 289]]
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011--Continued
(in millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
--------------------------------------------------------------------------------------------------------------------------------------------------------
Old age and survivors insurance fund:
Cash income:
Social insurance and retirement 284,091 311,869 336,729 358,784 383,559 411,677 434,057 440,541 447,806 457,120
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 5,434 5,326 5,582 6,086 6,374 6,542 6,761 7,591 8,207 9,686
(952)..............................
Interest (903)...................... 31,417 34,026 37,688 42,197 46,847 53,531 61,239 68,105 73,980 76,441
Other............................... 5,143 5,772 6,486 8,620 10,197 12,509 11,813 13,040 12,367 13,299
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 41,994 45,124 49,756 56,903 63,418 72,582 79,813 88,736 94,554 99,426
Other cash income..................... ......... ......... ......... ......... ......... ......... 1 1 1 1
-------------------------------------------------------------------------------------------------------------
Total cash income................. 326,085 356,993 386,485 415,687 446,977 484,259 513,871 529,278 542,361 556,547
=============================================================================================================
Cash outgo:
Benefit payments...................... 288,617 299,985 312,880 324,274 332,383 347,894 367,702 383,970 396,597 411,157
Payments to the railroad retirement 4,052 3,554 3,688 3,662 3,681 3,538 3,273 3,493 3,580 3,628
account..............................
Administrative expenses............... 1,805 1,793 2,001 1,833 1,851 1,995 2,093 2,118 2,519 2,517
Military service credit adjustment.... ......... 129 ......... ......... ......... ......... ......... ......... ......... .........
Other outgo (mainly for vocational ......... ......... ......... ......... ......... ......... -25 ......... 2 3
rehabilitation)......................
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 294,474 305,461 318,569 329,769 337,915 353,427 373,043 389,581 402,698 417,305
=============================================================================================================
Surplus or deficit (-).................. 31,611 51,532 67,916 85,918 109,062 130,832 140,828 139,697 139,663 139,242
Fund balance, end of year............... 447,946 499,479 567,395 653,314 762,376 893,208 1,034,03 1,173,73 1,313,39 1,452,63
6 3 5 7
=============================================================================================================
Invested balance........................ 447,947 499,403 567,445 653,282 762,226 893,519 1,034,11 1,173,75 1,313,42 1,452,63
4 9 7 7
Uninvested balance...................... -1 75 -49 32 150 -311 -78 -26 -32 .........
=============================================================================================================
Disability insurance trust fund:
Cash income:
Social insurance and retirement 66,988 55,623 55,261 57,015 60,909 68,907 73,462 74,780 76,036 77,625
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 998 952 901 966 1,011 1,095 1,149 1,287 1,395 1,645
(952)..............................
Interest (903)...................... 1,888 2,481 3,526 4,433 5,224 6,265 7,572 8,715 9,565 9,787
Other............................... 341 378 412 539 647 787 770 972 949 1,085
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 3,227 3,811 4,839 5,938 6,882 8,147 9,491 10,974 11,909 12,517
Other cash income..................... ......... ......... ......... ......... ......... 8 27 36 40 43
-------------------------------------------------------------------------------------------------------------
Total cash income................. 70,215 59,434 60,100 62,953 67,791 77,062 82,980 85,790 87,985 90,185
=============================================================================================================
Cash outgo:
Benefit payments...................... 40,201 43,231 45,367 47,680 50,424 54,210 58,159 64,202 69,789 76,212
Payments to the railroad retirement 68 2 59 157 135 159 10 154 167 215
account..............................
Administrative expenses............... 1,064 1,074 1,211 1,565 1,520 1,611 1,764 2,008 1,968 2,072
Military service credit adjustment.... ......... 203 ......... ......... ......... ......... 836 ......... ......... .........
Other outgo (mainly vocational 47 48 64 57 63 66 62 68 58 51
rehabilitation)......................
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 41,380 44,558 46,701 49,459 52,142 56,046 60,831 66,432 71,982 78,550
=============================================================================================================
Surplus or deficit (-).................. 28,835 14,876 13,399 13,494 15,649 21,016 22,149 19,358 16,003 11,635
Fund balance, end of year............... 35,206 50,083 63,483 76,979 92,628 113,644 135,793 155,151 171,153 182,788
=============================================================================================================
Invested balance........................ 35,225 50,100 63,562 76,996 92,666 113,707 135,842 155,287 170,793 182,799
Uninvested balance...................... -19 -17 -79 -17 -37 -64 -49 -137 360 -11
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.
[[Page 290]]
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011--Continued
(in millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
--------------------------------------------------------------------------------------------------------------------------------------------------------
Hospital insurance trust fund:
Cash income:
Social insurance and retirement 96,024 104,997 110,710 119,863 132,268 135,529 149,651 149,049 147,186 150,589
receipts.............................
Intragovernmental receipts:
Employer share, employee retirement 2,449 2,382 2,465 2,499 2,576 2,630 2,704 2,913 3,049 3,423
(951) \2\..........................
Interest (902)...................... 10,871 10,389 9,757 9,154 9,286 10,470 12,338 13,774 14,791 15,074
Federal Payment (OASI taxes)........ 3,913 4,069 3,558 5,067 6,552 8,787 4,903 10,946 8,318 8,577
Other............................... 591 554 691 197 861 725 725 1,201 641 998
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts.. 17,824 17,394 16,471 16,917 19,275 22,612 20,670 28,834 26,799 28,072
Other (mainly proprietary) receipts:
Premium income...................... 998 1,107 1,279 1,320 1,401 1,392 1,440 1,525 1,598 1,799
Other............................... 1 1 89 104 71 148 454 331 231 354
-------------------------------------------------------------------------------------------------------------
Total cash income................. 114,847 123,499 128,549 138,204 153,015 159,681 172,215 179,739 175,814 180,814
=============================================================================================================
Cash outgo:
Benefit payments...................... 113,402 123,908 136,010 135,299 129,286 127,698 139,082 145,308 150,967 163,765
Administrative expenses............... 1,300 1,228 1,203 1,204 1,296 1,262 1,442 1,484 1,543 1,886
Military service credit adjustment.... ......... 2,366 ......... ......... ......... ......... 1,177 ......... ......... .........
Other................................. 181 181 671 795 918 1,070 1,200 1,221 1,310 1,364
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 114,883 127,683 137,884 137,298 131,500 130,030 142,901 148,013 153,820 167,015
=============================================================================================================
Surplus or deficit (-).................. -36 -4,184 -9,335 906 21,515 29,651 29,314 31,726 21,994 13,799
Adjustment to balances.................. ......... 1 ......... ......... -2 ......... ......... ......... -13 11
Fund balance, end of year............... 129,520 125,337 116,002 116,908 138,421 168,072 197,385 229,111 251,091 264,901
=============================================================================================================
Invested balance........................ 129,864 125,805 116,621 118,236 153,767 168,859 197,137 228,906 251,297 264,901
Uninvested balance...................... -344 -467 -619 -1,328 -15,346 -787 247 204 -206 .........
=============================================================================================================
Supplementary medical insurance trust
fund:
Cash income:
Intragovernmental receipts:
Interest (902).................... 1,935 1,388 2,192 2,606 2,926 3,160 3,187 2,916 2,452 1,727
Federal contributions and other... 36,988 61,702 59,471 59,919 62,185 65,561 69,863 78,334 80,910 94,736
-------------------------------------------------------------------------------------------------------------
Total intragovernmental receipts 38,923 63,090 61,663 62,525 65,111 68,721 73,050 81,250 83,362 96,463
Premium income:
From aged participants............ 17,126 16,858 16,984 17,153 17,722 17,961 19,447 21,173 23,115 25,873
From States and other participants 2,117 2,073 2,158 2,274 2,438 2,554 2,861 3,254 3,720 4,468
-------------------------------------------------------------------------------------------------------------
Total premium income............ 19,243 18,931 19,142 19,427 20,160 20,515 22,308 24,427 26,835 30,341
Other \4\........................... 3 4 1 3 7 4 4 3 -1 1
-------------------------------------------------------------------------------------------------------------
Total cash income................. 58,169 82,025 80,806 81,955 85,278 89,240 95,362 105,680 110,196 126,805
=============================================================================================================
Cash outgo:
Benefit payments...................... 63,482 67,167 71,115 74,808 78,972 87,169 97,471 106,901 121,740 131,595
Administrative expenses............... 1,722 1,770 1,420 1,431 1,510 1,780 1,926 1,717 2,245 2,648
Other................................. 9 9 18 33 36 43 55 207 70 247
-------------------------------------------------------------------------------------------------------------
Total cash outgo.................. 65,213 68,946 72,553 76,272 80,518 88,992 99,452 108,825 124,055 134,490
=============================================================================================================
Surplus or deficit (-).................. -7,044 13,079 8,253 5,683 4,760 248 -4,090 -3,145 -13,859 -7,685
Adjustment to balances.................. ......... ......... ......... ......... ......... ......... ......... ......... ......... -1
Fund balance at end of year............. 13,874 26,953 35,206 40,889 45,649 45,896 41,805 38,660 24,801 17,115
=============================================================================================================
Invested balance........................ 13,513 27,175 34,464 39,502 26,529 45,075 41,978 38,804 24,850 17,115
Uninvested balance...................... 361 -222 742 1,387 19,120 821 -174 -145 -49 .........
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.
[[Page 291]]
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011--
Continued
(in millions of dollars)
----------------------------------------------------------------------------------------------------------------
2006 2007 2008 2009 2010 2011
2005 estimate estimate estimate estimate estimate estimate
----------------------------------------------------------------------------------------------------------------
Old age and survivors insurance
fund:
Cash income:
Social insurance and retirement 493,646 521,440 549,083 580,545 612,254 648,363 685,218
receipts......................
Intragovernmental receipts:
Employer share, employee 9,352 9,981 10,396 10,969 11,505 12,121 12,857
retirement (952)............
Interest (903)............... 81,708 87,074 95,096 104,743 116,473 128,126 139,424
Other........................ 15,363 15,181 16,934 19,720 20,357 21,848 25,183
----------------------------------------------------------------------------
Total intragovernmental 106,423 112,236 122,426 135,432 148,335 162,095 177,464
receipts..................
Other cash income.............. ......... 1 1 1 1 2 2
----------------------------------------------------------------------------
Total cash income.......... 600,069 633,677 671,510 715,978 760,590 810,460 862,684
============================================================================
Cash outgo:
Benefit payments \5\........... 430,375 454,922 478,843 503,319 530,751 585,400 652,748
Payments to the railroad 3,579 3,498 3,605 3,633 3,668 3,720 3,505
retirement account............
Administrative expenses........ 2,874 2,953 3,022 2,988 2,986 2,975 3,017
Military service credit ......... 350 ......... ......... ......... ......... .........
adjustment....................
Other outgo (mainly for 2 6 6 7 21 43 -15
vocational rehabilitation)....
----------------------------------------------------------------------------
Total cash outgo........... 436,830 461,729 485,476 509,947 537,426 592,138 659,255
============================================================================
Surplus or deficit (-)........... 163,239 171,948 186,034 206,031 223,164 218,322 203,429
Adjustment to balances........... ......... ......... ......... ......... ......... ......... .........
Fund balance, end of year........ 1,615,87 1,787,82 1,973,85 2,179,88 2,403,05 2,621,37 4,073,97
6 4 8 9 3 5 4
============================================================================
Invested balance................. 1,616,15 1,787,82 1,973,67 2,179,88 2,403,05 2,621,37 4,073,97
9 3 5 9 3 5 4
Uninvested balance............... -283 1 183 ......... ......... ......... .........
============================================================================
Disability insurance trust fund:
Cash income:
Social insurance and retirement 83,830 88,525 93,236 98,584 103,968 110,099 116,357
receipts......................
Intragovernmental receipts:
Employer share, employee 1,589 1,696 1,765 1,863 1,954 2,058 2,183
retirement (952)............
Interest (903)............... 10,128 10,369 10,652 10,958 11,315 11,631 11,922
Other........................ 1,202 1,240 1,418 1,684 1,776 1,956 2,301
----------------------------------------------------------------------------
Total intragovernmental 12,919 13,305 13,835 14,505 15,045 15,645 16,406
receipts..................
Other cash income.............. 15 17 18 19 20 21 22
----------------------------------------------------------------------------
Total cash income.......... 96,764 101,847 107,089 113,108 119,033 125,765 132,785
============================================================================
Cash outgo:
Benefit payments \5\........... 83,765 90,644 97,510 103,542 109,508 116,577 122,172
Payments to the railroad 338 295 362 394 428 458 469
retirement account............
Administrative expenses........ 2,316 2,345 2,462 2,428 2,412 2,385 2,410
Military service credit ......... ......... ......... ......... ......... ......... .........
adjustment....................
Other outgo (mainly vocational 49 134 187 ......... ......... ......... .........
rehabilitation)...............
----------------------------------------------------------------------------
Total cash outgo........... 86,468 93,418 100,521 106,364 112,348 119,420 125,051
============================================================================
Surplus or deficit (-)........... 10,296 8,429 6,568 6,744 6,685 6,345 7,734
Adjustment to balances........... ......... ......... ......... ......... ......... ......... .........
Fund balance, end of year........ 193,084 201,513 208,081 214,825 221,510 227,855 227,893
============================================================================
Invested balance................. 193,263 201,514 208,072 214,825 221,510 227,855 227,893
Uninvested balance............... -179 -1 9 ......... ......... ......... .........
----------------------------------------------------------------------------------------------------------------
See footnotes at end of table.
[[Page 292]]
Table 13.1--CASH INCOME, OUTGO, AND BALANCES OF THE SOCIAL SECURITY AND MEDICARE TRUST FUNDS: 1936-2011--
Continued
(in millions of dollars)
----------------------------------------------------------------------------------------------------------------
2006 2007 2008 2009 2010 2011
2005 estimate estimate estimate estimate estimate estimate
----------------------------------------------------------------------------------------------------------------
Hospital insurance trust fund:
Cash income:
Social insurance and retirement 166,068 177,592 187,940 198,380 209,455 221,926 234,675
receipts......................
Intragovernmental receipts:
Employer share, employee 3,302 3,416 3,488 3,590 3,679 3,797 3,948
retirement (951) \2\........
Interest (902)............... 15,155 15,068 15,465 16,399 17,879 19,228 20,827
Interest from OASI........... ......... ......... ......... ......... ......... ......... .........
Federal Payment (OASI taxes). 8,765 10,002 11,352 13,307 14,641 15,238 17,426
Other........................ 2,528 730 897 737 749 758 763
----------------------------------------------------------------------------
Total intragovernmental 29,750 29,216 31,202 34,033 36,948 39,021 42,964
receipts..................
Other (mainly proprietary)
receipts:
Premium income............... 2,303 2,581 2,740 2,892 3,049 3,226 3,417
Other \4\.................... 1,902 238 238 238 238 238 238
----------------------------------------------------------------------------
Total cash income.......... 200,023 209,627 222,120 235,543 249,690 264,411 281,294
============================================================================
Cash outgo:
Benefit payments \6\........... 182,515 185,842 201,754 209,141 219,880 231,794 251,062
Payments to Stabilization Fund. ......... ......... 668 893 899 902 898
Administrative expenses........ 1,769 2,043 1,926 1,881 1,875 1,865 1,853
Military service credit ......... ......... ......... ......... ......... ......... .........
adjustment....................
Other \6\...................... 1,419 1,547 1,634 ......... ......... ......... .........
----------------------------------------------------------------------------
Total cash outgo........... 185,703 189,432 205,982 211,915 222,654 234,561 253,813
============================================================================
Surplus or deficit (-)........... 14,320 20,195 16,138 23,628 27,036 29,850 27,481
Adjustment to balances........... ......... ......... ......... ......... ......... ......... .........
Fund balance, end of year........ 277,670 297,865 314,003 337,631 364,667 394,517 394,517
============================================================================
Invested balance................. 277,268 295,654 316,233 337,631 364,667 394,517 394,517
Uninvested balance............... 402 2,211 -2,230 ......... ......... ......... .........
============================================================================
Supplementary medical insurance
trust fund:
Cash income:
Intragovernmental receipts:
Interest (902)............. 1,364 1,722 2,342 3,040 3,654 4,055 4,293
Federal contributions and 115,201 129,076 138,905 141,647 143,672 146,791 152,832
other.....................
----------------------------------------------------------------------------
Total intragovernmental 116,565 130,798 141,247 144,687 147,326 150,846 157,125
receipts................
Premium income:
From aged participants..... 30,394 35,364 39,197 40,824 42,164 43,128 44,993
For prescription drugs..... ......... 3,886 6,558 8,780 10,214 11,456 12,767
From States and other 5,546 12,107 14,571 15,139 15,886 16,725 17,739
participants..............
----------------------------------------------------------------------------
Total premium income..... 35,940 51,357 60,326 64,743 68,264 71,309 75,499
Other \4\.................... 994 ......... ......... ......... ......... ......... .........
----------------------------------------------------------------------------
Total cash income.......... 153,499 182,155 201,573 209,430 215,590 222,155 232,624
============================================================================
Cash outgo:
Benefit payments \6\........... 150,661 203,744 244,898 256,072 271,115 288,279 315,048
Payments to Stabilization Fund. ......... ......... 616 819 813 810 814
Administrative expenses........ 2,745 3,233 3,074 3,121 3,101 2,960 2,984
Other \6\...................... 321 518 498 ......... ......... ......... .........
----------------------------------------------------------------------------
Total cash outgo........... 153,727 207,495 249,086 260,012 275,029 292,049 318,846
============================================================================
Surplus or deficit (-)........... -228 -25,340 -47,513 -50,582 -59,439 -69,894 -86,222
Adjustment to balances........... ......... ......... ......... ......... ......... ......... .........
Fund balance at end of year...... 16,887 28,634 38,148 50,111 57,779 61,705 61,705
============================================================================
Invested balance................. 17,204 28,634 38,148 50,111 57,779 61,705 61,705
Uninvested balance............... -317 ......... ......... ......... ......... ......... .........
----------------------------------------------------------------------------------------------------------------
See footnotes on following page.
[[Page 293]]
* $500 thousand or less.
\1\ In 1983, includes $329.3 million loss on sale of securities.
\2\ Starting in 1983, includes amounts from Postal Service.
\3\ For 1989 and 1990, includes transactions and balances of the HI and SMI Catastrophic Insurance trust funds,
which began in 1989 and were abolished in 1990.
\4\ For years after 1986, SMI receipts for kidney dialysis. For years after 2004, includes medicare refunds,
which were shown as offsets to cash outgo in years prior to 2005.
\5\ For years after 2007, includes outlays for vocational rehabilitation.
\6\ For years after 2007, outlays for peer review organizations are included in the benefit payments line.
Note: Offsetting collections from Federal sources that are credited to the Old Age and Survivors insurance
(OASI) account and to the Supplementary Medical insurance (SMI) account are treated as offsets to cash outgo
rather than as cash income. As a result, the partial transfer to SMI of Hospital Insurance (HI) home health is
shown as benefit payments under HI rather than SMI. Similarly, transfers to Medicaid for payment of SMI
premiums, which began in 2001, are shown as benefits under SMI.