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 2005-02-03 monographic deposited born digital GA 1.13:GAO-05-303T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-303T P0b002ee180388cb3 f:d05303t DGPO 2010-08-12 2011-03-23 GAOREPORTS-GAO-05-303T machine generated eng fdlp REPORT GAOREPORTS-GAO-05-303T GAO-05-303T Federal social security programs Future budget projections Income maintenance programs Program evaluation Program management Social security benefits Trust funds Medicaid program Medicare program Old-Age and Survivors Insurance Program Social Security Program SSA Disability Insurance Program Testimony A16836 Social Security is the foundation of the nation's retirement income system, helping to protect the vast majority of American workers and their families from poverty in old age. However, it is much more than a retirement program and also provides millions of Americans with disability insurance and survivors' benefits. Over the long term, as the baby boom generation retires and as Americans continue to live longer and have fewer children, Social Security's financing shortfall presents a major program solvency and sustainability challenge that is growing as time passes. The Chairman and Ranking Member of the Senate Special Committee on Aging asked GAO to discuss the future of the Social Security program. This testimony will address the nature of Social Security's long-term financing problem and why it is preferable for Congress to take action sooner rather than later, as well as the broader context in which reform proposals should be considered. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-303T/html/GAOREPORTS-GAO-05-303T.htm GAO-05-303T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-303T Testimony GAO-05-303T; Social Security: Long-Term Challenges Warrant Early Action; Federal social security programs Future budget projections Income maintenance programs Program evaluation Program management Social security benefits Trust funds Medicaid program Medicare program Old-Age and Survivors Insurance Program Social Security Program SSA Disability Insurance Program