The national debt represents the outstanding liabilities of the Federal Government at any given time. Because the national debt includes Federal securities in which the income of the social security and medicare programs is invested, the question is sometimes asked: What effect do social security and medicare have on the size of the national debt, and vice versa? This paper describes how these programs relate to the national debt and the statutory debt ceiling.,David Koitz, Specialist in Social Legislation, Education and Public Welfare Division.,CRS 85-1132 EPW,"December 31, 1985.",Note: This paper represents a revision and update of a paper issued on March 29, 1985, entitled Social Security and the National Debt, Report No. 85-782 EPW.,SuDoc# LC 14. 18/3

Recent projections suggest that by the end of the decade social security taxes may be higher than necessary to meet the benefit commitments of the program. The excess income would be invested in Federal securities and would be used to finance other government activities in the 1990-2020 period. In later years, however, governmental resources could be strained as the securities are cashed in to help pay for the benefits of the post World War II "baby boom" retirees.,CRS 84-783 EPW,"October 22, 1984.",SuDoc# LC 14. 18/3

This paper describes the conditions under which employees of State and local governments are covered by social security and medicare.,David Koitz, Specialist in Social Legislation, Education and Public Welfare Division.,Updated by Geoffrey Kollmann, Specialist in Social Legislation, Education and Public Welfare Division.,CRS 86-756 EPW,"September 6, 1985.",Updated "July 7, 1986.",SuDoc# LC 14. 18/3

The national debt is the amount of liabilities of the Federal Government outstanding at any given time. Because surplus resources of the social security trust funds are invested in Federal securities, and hence constitute part of the national debt, a question sometimes asked is what effect does social security have on the size of the national debt. This paper provides a technical description of how the financial operations of the social security program relate to the national debt and the debt ceiling.,Abstract -- Introduction. What is the Difference Between Social Security's Effect on the National Debt and the Federal Budget? ; Is the National Debt Always Increased When Social Security's Income Exceeds Its Outgo? ; Is the National Debt Always Reduced When Social Security Has To Reduce Its Reserve of Federal Securities? ; If Excess Social Security Taxes Caused the Amount of Debt Held by the Public To Fall, Would the Government's Interest Costs Be Smaller? ; If a Shortfall of Social Security Taxes Caused the Amount of Debt Held by the Public To Rise, Would the Government's Interest Costs Be Larger? ; Would the National Debt Be Different if Social Security Were Removed From the Unified Budget? ; Is Social Security Affected When the So-Called "Debt Ceiling" is Reached? -- Summary.,David Koitz, Specialist in Social Legislation, Education and Public Welfare Division.,CRS 85-782 EPW,"March 29, 1985 with technical revisions on June 10, 1985.",SuDoc# 14. 18/3

David Koitz, Specialist in Social Legislation, Education and Public Welfare Division,CRS 86-1055 EPWnn"December 20, 1986."nnSuDoc # LC 14. 18/3

David Koitz, Specialist in Social Legislation, Education and Public Welfare Division,CRS 87-14 EPWnn"January 10, 1987."nnSuDoc # LC 14. 18/3