United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2003-01-15 monographic deposited born digital GA 1.13:GAO-03-376T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-03-376T P0b002ee1803a0b29 f:d03376t DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-03-376T machine generated eng fdlp REPORT GAOREPORTS-GAO-03-376T GAO-03-376T Disability insurance Economic analysis Federal social security programs Funds management Future budget projections Retirement benefits Social security benefits Strategic planning Disability Insurance Program Hospital Insurance Trust Fund Medicaid Program Medicare Program Social Security Program Social Security Trust Fund Old-Age and Survivors Insurance Program Testimony A05863 Social Security not only represents the foundation of our retirement income system; it also provides millions of Americans with disability insurance and survivors' benefits. As a result, Social Security provides benefits that are critical to the current and future well-being of tens of millions of Americans. However, the system faces both solvency and sustainability challenges in the longer term. In their 2002 report, the Trustees emphasized that while the program's near-term financial condition has improved slightly, Social Security faces a substantial financial challenge in the not-too-distant future that needs to be addressed soon. In essence, the program's long-term outlook remains unchanged. Without reform, Social Security, Medicare, and Medicaid are unsustainable, and the long-term impact of these entitlement programs on the federal budget and the economy will be dramatic. Over the past few years, a wide array of proposals has been put forth to restore Social Security's long-term solvency, and a commission established by the President has presented three models for modifying the current program. The Commission's final report called for a period of discussion lasting at least a year before legislative action is taken to strengthen and restore sustainability to Social Security. We have also done a qualitative review of three other proposals introduced in the 107th Congress. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-03-376T/html/GAOREPORTS-GAO-03-376T.htm GAO-03-376T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-03-376T Testimony GAO-03-376T; Social Security: Analysis of Issues and Selected Reform Proposals; Disability insurance Economic analysis Federal social security programs Funds management Future budget projections Retirement benefits Social security benefits Strategic planning Disability Insurance Program Hospital Insurance Trust Fund Medicaid Program Medicare Program Social Security Program Social Security Trust Fund Old-Age and Survivors Insurance Program