In 1965, Congress enacted the Medicare program, providing medical benefits for persons over the age of 65, and an accompanying Medicaid program for the indigent regardless of age. A 1972 amendment tied increases in Social Security retirement benefits to increases in the Consumer Price Index. In 1974, Social Security insurance was taken over by the Social Security Administration, and in 1983 an amendment allowed partial taxation of the benefits given to upper-income recipients. In 1999, payroll deductions for Social Security were set at 6.2% of annual wages below $72,600, and payroll deductions for Medicare were 1.45% of annual wages (no upper limit), with employers contributing matching amounts.
Social Security funds are invested in federal securities, mainly long-term bonds. In 1997 a government advisory panel proposed that some of the revenues be invested in stocks and bonds to generate higher returns. The panel was divided over whether the money should be invested by the government or by individuals, as well as the amount that should be shifted from government bonds. Both approaches have their critics. Some regard government investment in stocks as a potential source of intrusive federal influence on U.S. businesses; others feel that allowing individuals to invest their Social Security funds would endanger the minimal postretirement “safety net” for all workers that the program is designed to provide if individuals invest unwisely. President George W. Bush, who campaigned for personal Social Security investment accounts, appointed (2001) a commission that offered several options for allowing individual investments in stocks and bonds as part of the Social Security program and for securing the program's financial health; it estimated that it would take as much as $3 trillion of additional revenue over the next 75 years and reductions in guaranteed benefits to accomplish both goals.
Underlying these proposals is the anticipation that the costs of the program as presently structured will outstrip the revenues raised and invested in the early to mid-21st cent. and that benefits will have to be paid from revenues alone, which are expected to be inadequate. If this occurs, Social Security will place a greater burden on the federal budget, and benefits may need to be reduced, or taxes increased, significantly. Although historical returns from investment in stock and bonds over the past century suggest that placing funds in those securities would forestall the program's financial difficulties, the dramatic fluctations in stock prices during and after the market bubble of the late 1990s has given many pause, particularly where individual investment accounts are concerned.
在线的不要奥，所以请各位英文强悍的朋友帮忙拉~！！因为刚申请到的号分数虽然很少，还是希望好心人帮我啊、在这谢谢了··

这里有一些专有名词需加以关注：

Medicare program和Medicaid program：是美国的两种医疗保险计划，前者提供给65岁以上人士；后者提供给低收入或伤残人士，没有年龄要求。

Social Security：美国社会保障制度

payroll deductions：雇主依照联邦政府要求从雇员工资中预先扣除所得税、社会保障金、医疗保险金，养老保险金等。

译文：

In 1965, Congress enacted the Medicare program, providing medical benefits for persons over the age of 65, and an accompanying Medicaid program for the indigent regardless of age. A 1972 amendment tied increases in Social Security retirement benefits to increases in the Consumer Price Index. In 1974, Social Security insurance was taken over by the Social Security Administration, and in 1983 an amendment allowed partial taxation of the benefits given to upper-income recipients. In 1999, payroll deductions for Social Security were set at 6.2% of annual wages below $72,600, and payroll deductions for Medicare were 1.45% of annual wages (no upper limit), with employers contributing matching amounts.
1965年，国会颁布了老年保健医疗计划，为65岁以上的人群提供医疗保险，同时颁布医疗补助方案，提供给任何年龄的贫困人群。1972的修正案把社会保障退休福利的增加与消费者物价指数的增长挂钩。1974年，社会保障保险由社会保障局接管，1983年修正案允许对高收入领取福利者征收一部分税。1999年， 从工资中扣减的社会保障金设定为年薪72,600美元以下部分的6.2%，从工资中扣减的老年保健医疗计划为年薪的1.45%（无上限），雇主也支付相同数额。

Social Security funds are invested in federal securities, mainly long-term bonds. In 1997 a government advisory panel proposed that some of the revenues be invested in stocks and bonds to generate higher returns. The panel was divided over whether the money should be invested by the government or by individuals, as well as the amount that should be shifted from government bonds. Both approaches have their critics. Some regard government investment in stocks as a potential source of intrusive federal influence on U.S. businesses; others feel that allowing individuals to invest their Social Security funds would endanger the minimal postretirement “safety net” for all workers that the program is designed to provide if individuals invest unwisely. President George W. Bush, who campaigned for personal Social Security investment accounts, appointed (2001) a commission that offered several options for allowing individual investments in stocks and bonds as part of the Social Security program and for securing the program's financial health; it estimated that it would take as much as $3 trillion of additional revenue over the next 75 years and reductions in guaranteed benefits to accomplish both goals.
社会保障基金投资到联邦证券里，主要是长期债券。1997年，政府顾问团建议一部分收入投到股票和债券上，以产生更高回报。顾问团的分歧 是钱是由政府还是个人投资，以及应从政府债券转移的数额。人们对这两种方案都有非议。有人认为政府投资股票会成为联邦干预美国企业的潜在来源；另一些人觉得允许个人投资社会保障基金，若投资不当，会危胁到此计划的所有受益者退休后的最起码的安全。为个人社会保障投资账户开展宣传活动的乔治.布什总统2001年任命的一个委员会提出了一些可选择的方案，允许个人投资股票和债券作为社会保障计划的一部分，并确保方案的财务状况良好；为实现这两个目标，预计在未来的75年里，大约要动用3兆美元的额外收入，以及削减有保障的福利。

Underlying these proposals is the anticipation that the costs of the program as presently structured will outstrip the revenues raised and invested in the early to mid-21st cent. and that benefits will have to be paid from revenues alone, which are expected to be inadequate. If this occurs, Social Security will place a greater burden on the federal budget, and benefits may need to be reduced, or taxes increased, significantly. Although historical returns from investment in stock and bonds over the past century suggest that placing funds in those securities would forestall the program's financial difficulties, the dramatic fluctations in stock prices during and after the market bubble of the late 1990s has given many pause, particularly where individual investment accounts are concerned.
这些提议预测以目前这种结构的计划，至21世纪初期到中期，其支出将要超过新增的和投资的收入，而那些福利将要单独从收入中支付，这是不够的。如果这种情况发生，社会保障将成为联邦预算的更大负担，可能导致大幅度减少福利并增加税收。虽然上世纪股票和债券投资的历史回报表明把 资金投入証劵会化解此计划的资金困难，但在20世纪90年代后期市场泡沫期间和之后，戏剧性的股票价格波动使之停摆，尤其是被普遍关注的个人投资账户。