Social Security Trust Funds: sick but not sicker
April 29, 2007
The Social Security Board of Trustees on April 23, 2007 released its annual report on the financial health of the Social Security Trust Funds. The 2007 Trustees Report shows slight improvement in the projected financial status of the Social Security program from last year. In the 2007 Annual Report to Congress, the Trustees announced:

“Social Security provides valuable economic protection to workers and their families. We owe it to the American public to continue to offer the best possible support for older Americans, people with disabilities and their families in the coming decades,” said Michael J. Astrue, Commissioner of Social Security. “The Trustees Report is an important tool for those in the legislative and executive branches who will have to make the very difficult decisions about how best to ensure Social Security remains viable for the long term.”

Other highlights of the Trustees Report include:

The Board of Trustees is comprised of six members. Four serve by virtue of their positions with the federal government: Henry M. Paulson, Jr., Secretary of the Treasury and Managing Trustee; Michael J. Astrue, Commissioner of Social Security; Michael O. Leavitt, Secretary of Health and Human Services; and Elaine L. Chao, Secretary of Labor. The two public trustees are John L. Palmer (Democrat) and Thomas R. Saving (Republican). Palmer is Dean of the Maxwell School of Citizenship and Public Affairs of Syracuse University and professor of economics and public administration. A two-term member of the board, Saving is director of the Private Research Center at Texas A&M University where he holds the Jeff Montgomery Professorship in Economics.

The 2007 Trustees Report is posted here (

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