seated at the table is stephen c goss, mr. goss, welcome back. please proceed with your testimony. >> thank you very much chairman, ranking member and members of the committee. it's a pleasure to be here to talk about the 2018 trustees report. congress by the way has received from the trustees, every single year since 1941, its annual report at trend report as required in the law. i want to thank both of you for talking about the nature of the coming shortfalls which in so many years we have discussed their large recently about the demographics. it is like it is inevitable. let me speak briefly about three major items that are the changes in the trust report compared to the less. first, based primarily on the lord then application an incidence rate through 2017, to levels that are below the levels we achieved at the peak of the last economic cycle in 2007. the completion date extended once again from 2028 of until 2032. the depletion date despite of the fact are now seem to be rising more rapidly to the same ultimate rate is assumed in last years

we have one witness today seated at the table is stephen c. goss, chief actuary, social security administration. mr. goss, welcome back. please proceed with your testimony. >> thank you very much, chairman johnson, ranking member larson and all members of the committee. it's a pleasure to be here with you today to talk to you about the 2018 trustees' report and congress, by the way, has received from the trustees every single year starting 1941 this annual report as you have required in the law. i just want to first of all thank both of you in your oral statements for talking about the nature of the coming shortfalls that we have for social security which we have so many years now discussed are really largely about the demographics, about the fact that our each distribution in our population is changing because of the drop in the birth rates back in the 1960s. it's like the tide, inevitable. but let me speak to you briefly about three major items that really are the changes in the trustees report compared to the last. first, based primarily on cont

the chief actuary of the program stephen goss testifies at a house ways and means subcommittee hearing live at 11 a.m. eastern on c-span 3. c-span.org and on our free c-span radio app. >> c-span, where history unfolds daily. in 1979 c-span was created as a public service by america's cable television companies and today we continue to bring you unfiltered coverage of congress, the white house, the supreme court, and public policy events in washington d.c. and around the country. c-span is brought to you by your cable or satellite provider. provider. >> while the u.s. senate is about to gavel in on this thursday morning with debate on an education department nomination, confirmation vote on assistant secretary for civil rights is expected at 12:30 eastern today and more daib on the 716 million dollars 2019 defense programs and policy bill. now to live coverage of the u.s. senate here on c-span2. the president pro tempore: the senate will come to order. the chaplain, dr. barry black, will lead the senate in prayer.

[applause] stephen this morning, goss is testifying on the social security administration's fiscal solvency. live coverage beginning at 11:00 a.m. eastern on c-span three. later, the house foreign affairs committee looks at business investments abroad in the future of trade between north and south america. live coverage beginning at 2:00 p.m. eastern on c-span three. floor, work continues on the combined spending bill for energy. they also take up a bill to resend a $15 billion in spending from unused funding appropriated in previous years. at 10:00 a.m..ns live coverage here on c-span. the u.s.-north korea summit is set for tuesday. book tv will feature authors with books about the region. this sunday, with one book, a north korean girls journey to freedom. another author, and her book "undercover". watch on c-span2's book tv, sunday at 5:00 p.m. eastern. next, we have from health and human secretary alex azar. he testified yesterday morning. members focus their questions on the opium