1、 https:/crsreports.congress.gov Updated September 3, 2021Social Security OverviewSocial Security provides monthly cash benefits to retired or disabled workers and their family members, as well as to the family members of deceased workers. It is one of the federal governments largest programs, both i
2、n terms of the number of people affected (workers and beneficiaries) and its finances. People of all ages are affected by the program, including 176 million covered workers and about 65 million beneficiaries (of whom 3.9 million are children) in 2021. In 2020, the program had total income of $1,118.
3、1 billion (93.2% from dedicated tax revenues) and total expenditures of $1,107.2 billion (99.0% for benefit payments). Currently, the Social Security trust funds hold about $2.9 trillion in U.S. Treasury securitiesasset reserves that are available for future program spending. Over the long term, how
4、ever, Social Security is projected to be unable to pay full benefits scheduled under current law beginning in 2034. At that point, the asset reserves held by the trust funds are projected to be depleted, and the programs tax income is projected to cover about three-fourths of scheduled benefit payme
