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Here’s How Social Security Spends $1 Trillion a Year
Where did the $1 trillion spent by the Social Security Administration (SSA) in 2018 go? Before answering this, Sean Williams points out that the federal government spent $4 trillion overall, meaning monthly benefit checks are 25% of the entire federal budget. The SSA sends out more than 64 million benefit checks each month. Actual Social Security benefits account for close to 99% of all spending, leaving just 1% for administrative and other expenses. Read the full piece by Williams of The Motley Fool here.
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