Budget Basics: How Does Social Security Work?
Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
https://www.pgpf.org/budget-basics/how-does-social-security-work
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Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
https://www.pgpf.org/budget-basics/how-does-social-security-work
Social Security is an important program that is part of the fabric of America. We must ensure that Social Security is available for future generations.
https://www.pgpf.org/budget-basics/making-social-security-sustainable
Social Security provides social insurance by redistributing income from high earners to low earners.
https://www.pgpf.org/chart-archive/0244_social-security-income-redistribution
Social Security will run a cumulative cash deficit of $2.9 trillion between now and 2035.
https://www.pgpf.org/chart-archive/0030_social-security-deficits-gdp
As a federal program, Social Security cannot be any stronger financially than the overall federal government, and looming financial problems in Social Security will have a negative impact on the Federal budget as a whole.
https://www.pgpf.org/analysis/the-financial-condition-of-social-security
Every year the Social Security and Medicare Boards of Trustees issue reports on the fiscal health of these vital programs.
https://www.pgpf.org/analysis/social-security-medicare-trustees-reports
The normal retirement age for receiving full Social Security benefits depends on the year of your birth.
https://www.pgpf.org/chart-archive/0245_social-security-year-of-birth
The report anticipates that in 2020 — for the first time since 1982 — the program’s total costs will exceed its total income.
On average, Social Security benefits exceed Social Security taxes over an individual’s lifetime.
https://www.pgpf.org/Chart-Archive/0198_social_security_lifetime_benefits
Low-income seniors rely on Social Security benefits for a major share of their retirement income.
https://www.pgpf.org/chart-archive/0018_social-security-low-income