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IRS Commissioner's Annual Report Released

It contains some interesting and useful information.

• The 1991 Annual Report of the Social Security Board of Trustees has been released, and it contains some useful information. Consider the following: (1) In releasing the report, Health and Human Services Secretary Louis Sullivan stated: "In the social security trust funds, current projections indicate continued substantial growth over the next several decades, helping to ensure that social security can meet its financial commitments in the next century when today's younger workers become eligible for social security." However, Secretary Sullivan added "we are confronting bankruptcy in the primary medicare trust fund within 14 years unless we take effective action to change the situation." The report itself states: "There are currently over four covered workers supporting each [medicare] enrollee. This ratio will begin to decline rapidly early in the next century. By the middle of that ...

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  • September 2, 1991

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