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SS AND SSDI Already Top Annual Payouts

From CNS News:

Social Security and Disability Payments Hit Annual Records—With Month Left in FY

By Terence P. Jeffrey | Thursday Sept 13, 2012

(CNSNews.com) – By the end of August, according to data released Thursday by the U.S. Treasury, the federal government had already paid out record annual amounts in both Social Security and disability benefits during fiscal 2012—even though there was still a month left in the year.

In fiscal 2011–which ended on Sept. 30, 2011—the federal government paid a total of $591.492 billion in benefits from the Old Age and Survivors Insurance Trust Fund, according to the Monthly Treasury Statement (MTS) for September 2011.

Through just the end of August of this year, according to the MTS, the federal government had paid $594.643 in benefits from the Old Age and Survivors Insurance Trust Fund.

That means the government had paid $3.151 billion more in Social Security benefits in just the first eleven months of this fiscal year than it paid in all of fiscal 2011.

The $591.492 billion in Social Security benefits the government paid out last year was, up until then, the most the most the government had ever been paid in Social Security benefits in any fiscal year since the Social Security program started paying benefits in 1940…

Meanwhile, Mr. Obama has reduced the ‘payroll tax’ to buy votes for his re-election. Even though that is the only source of funding for the Social Security Trust Fund.

In August [2012], according to the Social Security Administration, there were a record 8,767,941 American workers collecting federal disability payments, and also 2,018,569 spouses and children of disabled workers collecting benefits. Additionally, in August, there were a record 45,505,287 retired workers, their spouses and dependents receiving Social Security benefits.

That made for a record 56,291,797 people in the United States in August taking Social Security or disability benefits. That was up from the previous record of 56,188,736 set in July.

But the Obama administration undoubtedly see all of this as good news. The more people who are dependent on the government, the more people will vote Democrat.

This article was posted by Steve on Friday, September 14th, 2012. Comments are currently closed.

2 Responses to “SS AND SSDI Already Top Annual Payouts”

  1. P. Aaron says:

    I guess the gov’t money printing office is hiring then?

  2. Mithrandir says:

    The government makes it so cumbersome for people to save money for their retirement, health care, invest without penalty, or to pass money down to their own children without penalty, that people by and large, have no choice but to wait for whatever money the government decides to give them.

    When the government decides everything, you are no longer a free people, but slaves. And slaves don’t get to tell their masters what to do.


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