Social Security Administration Spending Hit Record in 2015
Spending by the Social Security Administration–which includes payments for Social Security and disability benefits as well as Supplemental Security Income payments and the administrative costs for these programs–hit a record $944,143,000,000 in fiscal 2015, according to data published by the U.S. Treasury.
Even in constant 2015 dollars (with adjustments made using the Bureau of Labor Statistics inflation calculator), that was up $33,748,280,000 from the $910,394,720,000 the Social Security Administration spent in fiscal 2014.
As of September, there were 59,737,817 beneficiaries getting Social Security or disability benefits, according to the SSA. At the same time, according to the Bureau of Labor Statistics, there were 148,800,000 people who had either a full- or part-time job in the United States. That means there were only 2.49 people with jobs for each of the 59,737,817 Social Security and disability beneficiaries.
At the same time, there were only 121,839,000 people with full-time jobs in the United States in September, according to BLS. Those 121,839,000 full-time job holders equaled about 2.04 for each of the 59,737,817 people getting Social Security or disability benefits.
The $944,143,000,000 spent by the Social Security Administration in fiscal 2015 equaled about $6,345 for each of the 148,800,000 persons in the country with a job as of September. It equaled about $7,749 for each of the 121,839,000 people with a full-time job. (Read more from “Social Security Administration Spending Hit Record in 2015” HERE)
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