TABLE II.F11.--OPERATIONS OF THE OASI AND DI TRUST FUNDS,
             COMBINED, DURING SELECTED FISCAL YEARS 1960-94 AND
         ESTIMATED FUTURE OPERATIONS DURING FISCAL YEARS 1995-2004,
             ON THE BASIS OF THE INTERMEDIATE SET OF ASSUMPTIONS
                              [In millions]
-------------------------------------------------------------------------------
                                               Income
                 --------------------------------------------------------------
                                                          Payments
                                               Income     from the
                                           from taxa- general fund
  Fiscal                     Net contri-      tion of       of the          Net
  year 1/             Total    butions2/     benefits   Treasury3/   interest4/
-------------------------------------------------------------------------------
Historical data:
  1960........      $11,394      $10,830           --           --         $564
  1965........       17,681       17,032           --           --          648
  1970........       36,127       34,096           --         $458        1,572
  1975........       66,677       63,374           --          499        2,804
  1980........      117,427      114,413           --          675        2,339
  1985........      197,865      192,181       $3,368          105        2,211

  1986........      215,461      205,146        3,558        3,310        3,447
  1987........      226,893      218,878        3,307           69        4,638
  1988........      258,090      248,145        3,390           55        6,500
  1989........      284,936      270,811        3,772           43       10,310
  1990........      306,822      288,797        3,081           34       14,909

  1991........      322,611      299,794        5,921       -2,864       19,759
  1992........      338,270      308,377        6,237           19       23,637
  1993........      351,354      318,391        6,161           14       26,788
  1994........      376,307      341,438        5,656           10       29,203
Estimates:
  1995........      398,518      359,615        5,451            7       33,445
  1996........      425,127      381,207        6,721       -1,165       38,364
  1997........      450,029      399,154        7,170            3       43,702
  1998........      475,926      418,632        7,683            3       49,609
  1999........      501,866      438,033        8,242            2       55,589

  2000........      530,301      459,670        8,865            1       61,765
  2001........      561,844      484,073        9,539            1       68,231
  2002........      595,447      510,128       10,271            1       75,048
  2003........      631,727      538,568       11,068          (5)       82,090
  2004........      670,352      569,080       11,928          (5)       89,344
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1/ Under the Congressional Budget Act of 1974 (Public Law 93-344), fiscal years
1977 and later consist of the 12 months ending on September 30 of each year.
Fiscal years prior to 1977 consisted of the 12 months ending on June 30 of each
year.
2/ Beginning in 1983, includes transfers from general fund of Treasury repre-
senting contributions that would have been paid on deemed wage credits for
military service in 1957 and later, if such credits were considered to be
covered wages.
3/ Includes payments (1) in 1947-52 and in 1967 and later, for costs of non-
contributory wage credits for military service performed before 1957; (2) in
1972-83, for costs of deemed wage credits for military service performed after
1956; and (3) in 1969 and later, for costs of benefits to certain uninsured
persons who attained age 72 before 1968.
4/ Net interest includes net profits or losses on marketable investments.
Beginning in 1967, administrative expenses are charged currently to the trust
funds on an estimated basis, with a final adjustment, including interest, made
in the following fiscal year. The amounts of these interest adjustments are
included in net interest. For years prior to 1967, a description of the method
of accounting for administrative expenses is contained in the 1970 Annual
Report. Beginning in October 1973, the figures shown include relatively small
amounts of gifts to the funds. Net interest for 1983-86 reflects payments from
a borrowing trust fund to a lending trust fund for interest on amounts owed
under the interfund borrowing provisions. During 1983-91, interest paid from
the trust funds to the general fund on advance tax transfers is reflected. The
amounts shown for 1985 and 1986 include interest adjustments of $91.3 million
and $11.5 million, respectively, on unnegotiated checks issued before April
1985.
5/ Less than $500,000.

          TABLE II.F11.--OPERATIONS OF THE OASI AND DI TRUST FUNDS,
             COMBINED, DURING SELECTED FISCAL YEARS 1960-94 AND
         ESTIMATED FUTURE OPERATIONS DURING FISCAL YEARS 1995-2004,
         ON THE BASIS OF THE INTERMEDIATE SET OF ASSUMPTIONS (Cont.)
                              [In millions]
-------------------------------------------------------------------------------
                              Expenditures                       Assets
                ---------------------------------------  ----------------------
                                              Transfers
                                                     to          Net
                                    Adminis-   Railroad     increase     Amount
  Fiscal                  Benefit    trative Retirement       during  at end of
   year          Total payments6/   expenses    program         year     period
-------------------------------------------------------------------------------
Historical data:
  1960.....    $11,606    $10,798       $234       $574        -$212    $22,996
  1965.....     17,456     16,618        379        459          224     22,187
  1970.....     30,275     29,063        623        589        5,851     37,720
  1975.....     64,658     62,547      1,101      1,010        2,018     48,138
  1980.....    118,548    115,624      1,494      1,430       -1,121     32,246
  1985.....    188,504    183,959      2,192      2,353     7/ 7,538     39,750

  1986.....    198,730    193,869      2,209      2,653     7/ 6,117     45,867
  1987.....    207,323    202,430      2,279      2,614       19,570     65,437
  1988.....    219,290    213,907      2,532      2,851       38,800    104,237
  1989.....    232,491    227,150      2,407      2,934       52,445    156,682
  1990.....    248,605    243,275      2,280      3,049       58,217    214,900

  1991.....    269,096    263,104      2,535      3,457       53,515    268,415
  1992.....    287,524    281,650      2,668      3,206       50,746    319,161
  1993.....    304,566    298,176      2,955      3,435       46,788    365,949
  1994.....    319,551    313,129      2,896      3,526       56,757    422,706
Estimates:
  1995.....    335,529    329,090      2,723      3,716       62,989    485,695
  1996.....    353,214    346,050      3,419      3,745       71,913    557,609
  1997.....    371,364    364,120      3,489      3,755       78,665    636,274
  1998.....    390,692    383,449      3,403      3,840       85,234    721,508
  1999.....    411,673    404,281      3,480      3,912       90,193    811,701

  2000.....    434,581    426,975      3,603      4,004       95,720    907,420
  2001.....    459,198    451,374      3,746      4,078      102,646  1,010,066
  2002.....    485,948    477,839      3,901      4,207      109,500  1,119,565
  2003.....    514,861    506,467      4,068      4,326      116,866  1,236,431
  2004.....    545,818    537,127      4,247      4,444      124,534  1,360,966
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6/ Beginning in 1967, includes payments for vocational rehabilitation services
furnished to disabled persons receiving benefits because of their disabilities.
Beginning in 1983, amounts are reduced by amount of reimbursement for unnegoti-
ated benefit checks.
7/ Reflects offset for repayment from the OASI Trust Fund of amounts borrowed
from the HI Trust Fund in 1982. The amount repaid in 1985 was $1,824 million;
in 1986, the amount was $10,613 million.
Note: Totals do not necessarily equal the sums of rounded components.