A Look At Our Future: When Baby Boomers Retire
Published: Dec 12, 2005. Publicly Released: Dec 12, 2005.
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Highlights
This is a Comptroller General presentation delivered to the 2005 White House Conference on Aging on December 12, 2005. Major topics of this presentation include: the growing fiscal burden, current fiscal policies, 21st century challenges for health care and retirement, social security reforms, medicare program challenges, and potential health care reform approaches.
A Look at Our Future: When Baby Boomers Retire
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Table of contents
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- Composition of Federal Spending
- Federal Spending for Mandatory and Discretionary Programs
- Surplus or Deficit as a Share of GDP Fiscal Years 1962-2005
- Fiscal Year 2004 and 2005 Deficits
- Estimated Fiscal Exposures (in $ trillions)
- How Big is Our Growing Fiscal Burden?
- Health Care Is the Nation's Top Tax Expenditure in Fiscal Year 2004 (estimated)
- Composition of Spending as a Share of GDP Under Baseline Extended
- Composition of Spending as a Share of GDP Assuming Discretionary Spending Grows with GDP after 2005 and All Expiring Tax Provisions are Extended
- Current Fiscal Policy Is Unsustainable
- The Way Forward: Three Pronged Approach
- 21st Century Challenges Report
- Illustrative 21st Century Questions: Retirement and Disability Policy
- Illustrative 21st Century Questions: Health Care
- Key Elements for Economic Security in Retirement
- Social Security and Medicare's Hospital Insurance Trust Funds Face Cash Deficits
- Social Security, Medicare, and Medicaid Spending as a Percent of GDP
- U.S. Elderly Dependency Ratio Expected to Continue to Increase
- Key Dates Highlight Long Term Challenges of the Social Security System
- GAO Criteria for Evaluating Social Security Reform Proposals
- Challenges Facing the Defined Benefit (DB) Pension System
- Broad Goals for Reform of the DB System
- Several Reforms Might Improve Plan Funding and Reduce the Risks to PBGC's Long-term Viability
- Key Dates Highlight Long Term Challenges of the Medicare Program
- SMI Premium as Share of Average Social Security (OASI) Benefit
- Issues to Consider in Examining Cost, Access, and Quality Challenges
- Selected Potential Health Care Reform Approaches
- Selected Potential Health Care Reform Approaches
- U.S. Labor Force Growth Will Continue to Decline
- Working Longer May Help Address the Challenges of an Aging Population
- Why Older Americans Don't Work Longer
- Everyone Needs to Plan for the Aging of the Workforce
- Three Key Ingredients Needed for These Challenging and Changing Times
- Close