Home| Course Catalog| Career Planning

Free Online Course on Personal Finance

Site Search

Describe the Future of Social Security

The Social Security program is currently collecting more money than it is paying out. In 2005, the program collected $701.8 billion and paid out $420.7 billion in benefits to 48 million people (2006 Trustees Report of the Social Security Administration, www.socialsecurity.gov/OACT/TR/TR06/, June 12, 2006). Today, it is estimated that there are 3.4 workers per recipient of Social Security; however, by the year 2075, it is estimated that there will be only 1.9 workers per recipient of Social Security. Clearly, the program must undergo some changes to accommodate this major shift in demographics.

According to government projections, Social Security benefits can be paid solely from tax revenues until 2014. From 2015 to 2025, Social Security benefits will likely have to be paid with the interest from government bonds. From 2026 to 2037, the Social Security Trust Fund may have to redeem its bonds to pay Social Security benefits. Current projections estimate that Social Security funds will be exhausted in 2040. However, even if Social Security assets are exhausted in 2040, the Social Security Trust Fund calculates that it will still be able to pay about 73 percent of benefits using the regular inflow of tax revenue.

While it is uncertain whether Social Security will be able to pay the amounts currently being paid, the U.S. government is committed to do the best that it can to assist the American people, especially those who need it the most.


Our Network Of Sites:
Apply 4 Admissions.com              | A2ZColleges.com  | OpenLearningWorld.com  | Totaram.com
Anatomy Colleges.com                | Anesthesiology Schools.com  | Architecture Colleges.com | Audiology Schools.com
Cardiology Colleges.com            | Computer Science Colleges.com| Computer Science Schools.com| Dermatology Schools.com
Epidemiology Schools.com         | Gastroenterology Schools.com  | Hematology Schools.com     | Immunology Schools.com
IT Colleges.com                | Kinesiology Schools.com  | Language Colleges.com  | Music Colleges.com
Nephrology Schools.com             | Neurology Schools.com  | Neurosurgery Schools.com | Obstetrics Schools.com
Oncology Schools.com    | Ophthalmology Schools.com | Orthopedics Schools.com       | Osteopathy Schools.com
Otolaryngology Schools.com| Pathology Schools.com  | Pediatrics Schools.com  | Physical Therapy Colleges.com
Plastic Surgery Schools.com| Podiatry Schools.com  | Psychiatry Schools.com   | Pulmonary Schools.com 
Radiology Schools.com| Sports Medicine Schools.com| Surgery Schools.com | Toxicology Schools.com
US Law Colleges.com| US Med Schools.com | US Dental Schools.com

About Us Terms of Use | Contact Us | Partner with Us | Press Release | Sitemap | Disclaimer | Privacy Policy

©1999-2011 OpenLearningWorld . com - All Rights Reserved