Read more on this subject: Government Debt & Financing
News Story Source: https://fee.org, Daniel J. Mitchell
Every year, the Social Security Administration issues a "Trustees Report" that summarizes the program's financing. So every year (see 2018, 2017, 2016, 2015, etc.) I cut through all the verbiage and focus the numbers that really matter.
Annual Spending and Revenue
First, here's the data from Table VI.G9 showing annual spending and annual revenue, and the numbers are adjusted for inflation. Everything to the left of the vertical red line is historical data. Everything to the right is an estimate based on "intermediate" economic and demographic projections.
The bad news is that there's a never-ending increase in the program's fiscal burden.
The only good news is that the country presumably will be much richer in the future, so we'll have more income to pay all those taxes and finance all that spending.
That being said, the fiscal burden is projected to increase faster than our income, so the economic burden of Soci
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