How much has been spent on Social Security from it's inception?

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Clarification of Question by starrsoft-ga on 18 Feb 2005 06:13 PST

Also, how much is spent on Social Security every day?

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Clarification of Question by starrsoft-ga on 18 Feb 2005 08:47 PST

These are the two figures I want:
Amount spent on payout since inception. (It's fine if you give a
figure that is from inception to, say for instance, December 31st,
2004.)
Amount spent on payout every day.

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Clarification of Question by starrsoft-ga on 18 Feb 2005 08:48 PST

Sources for the information would be good.

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Request for Question Clarification by pafalafa-ga on 18 Feb 2005 09:15 PST

starrsoft-ga,

This table from the Social Security Administration provide a detailed
breakout of SS expenses (outgo) for every year since 1957 (prior to
1957, SS was structured very differently):


http://www.ssa.gov/OACT/STATS/t4a3Outgo.html


In 2004, total outgo was $501,643 million, which amounts to $1,374
million ($1.37 billion) per day.

Is that the sort of information you were looking for?

pafalafa-ga

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Clarification of Question by starrsoft-ga on 19 Feb 2005 09:32 PST

pafalafa-ga, Yes.

I'm glad the link I provided had all the information you needed.  

I'm re-posting it here to make for a formal answer to your
question...let me know if there's anything else you need.

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This table from the Social Security Administration provide a detailed
breakout of SS expenses (outgo) for every year since 1957 (prior to
1957, SS was structured very differently):


http://www.ssa.gov/OACT/STATS/t4a3Outgo.html


In 2004, total outgo was $501,643 million, which amounts to $1,374
million ($1.37 billion) per day.
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All the best,

pafalafa-ga



search strategy:  Google search on [ ssa gov ] to locate the Social
Security website, and then explored the site for relevant information.

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Request for Answer Clarification by starrsoft-ga on 23 Feb 2005 14:34 PST

Please also include the projected cost for 2005.

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Clarification of Answer by pafalafa-ga on 23 Feb 2005 16:21 PST

Hello again,

The projected social security costs for 2005 (as well as for other
years) can be seen here:


http://www.ssa.gov/OACT/TR/TR04/IV_SRest.html#wp207413

Table IV.A3.--Operations of the Combined OASI and DI Trust Funds,
Calendar Years 1999-2013


Make sure to view Table IV.A3, as there are other tables on this page as well. 

The projected costs for 2005, based on the "Intermediate" projection,
are $517.6 billion, with a range of from $498.8 to $531.0 billion.


Please be aware that these numbers may not be directly comparable to
the numbers I gave you earlier, as they may be based on a slightly
different formulation.  The descriptions of the tables are
unfortunately not detailed enough to know for certain.

Thanks again for an interesting question.


pafalafa-ga

Thanks! You did a great job!

How much has been spent ON it? What does that mean?

Do you want to know the payout?

Advertising, lobbying, etc.?

Or the amount of the payroll tax?