This document is the first volume of a two-volume Senate report describing actions taken during 1986 by the Congress, the administration, and the Senate Special Committee on Aging which are significant to older Americans. It summarizes and analyzes federal policies and programs that are of continuing importance for older persons and their families. Chapter 1 provides an overview of Social Security and focuses on old age and survivors insurance and disability insurance. A prognosis for the future of Social Security is given. Chapter 2 gives an overview of employee pensions and discusses private pensions, state and local public employee pension plans, federal civil service retirement, military retirement, and railroad retirement. Chapter 3 provides an overview of taxes and savings and gives a prognosis. Chapter 4 looks at employment, chapter 5 examines Supplemental Security Income, and chapter 6 focuses on food stamps. Chapter 7 gives an overview of health care and discusses Medicare, health benefits for retirees of private sector employers, and health research and training. Long-term care is considered in chapter 8. Chapter 9 presents an overview of housing programs, then concentrates on federal housing programs and innovative housing arrangements. Chapter 10 examines energy assistance and weatherization and chapter 11 discusses the Older Americans Act. Chapter 12 contains an overview of social, community, and legal services and describes block grants, homeless services, education, Older American volunteer programs, transportation, and legal services. Chapter 13 examines the federal budget. Supplemental materials are provided, including summaries of the committee's hearings held in 1985 and lists of committee reports, prints, and hearings dating from the early 1960s. (NB)