the current balance of the social security trust fund is $2,801 billion.
the current balance of the social security trust fund is $2,801 billion.
what is the current balance of the social security trust fund?
$2,801 billion
during 2016, the initial balance as of january 1 was $2,780 billion. an additional $710 billion in payroll tax revenue and $87 billion in interest added to the fund during 2016, while expenses of $776 billion were removed from the fund, for a december 31, 2016 balance of $2,801 billion (i.e., $2,780 + $710 + $87 - $776 = $2,801).









































section::::recent attention.









































section::::recent attention.:under george w. bush.
social security trust fund
bullet::::- social security is a social insurance program officially called "old-age, survivors, and disability insurance" (oasdi), in reference to its three components. it is primarily funded through a dedicated payroll tax of 12.4%. during 2016, total benefits of $910 billion were paid out, versus $882 billion in 2015, an increase of $28 billion or 3%. social security's total expenditures have exceeded its non-interest income since 2010. the deficit of non-interest income relative to cost was about $49 billion in 2010, $45 billion in 2011, and $55 billion in 2012. during 2010, an estimated 157 million people paid into the program and 54 million received benefits, roughly 2.91 workers per beneficiary. since the greenspan commission in the early 1980s, social security has cumulatively collected far more in payroll taxes dedicated to the program than it has paid out to recipients—nearly $2.6 trillion in 2010. this annual surplus is credited to social security trust funds that hold special non-marketable treasury securities. this surplus amount is commonly referred to as the "social security trust fund". the proceeds are paid into the u.s. treasury where they may be used for other government purposes. social security spending will increase sharply over the next decades, largely due to the retirement of the baby boom generation. the number of program recipients is expected to increase from 44 million in 2010 to 73 million in 2030. program spending is projected to rise from 4.8% of gdp in 2010 to 5.9% of gdp by 2030, where it will stabilize. the social security administration projects that an increase in payroll taxes equivalent to 1.8% of the payroll tax base or 0.6% of gdp would be necessary to put the social security program in fiscal balance for the next 75 years. over an infinite time horizon, these shortfalls average 3.3% of the payroll tax base and 1.2% of gdp. various reforms have been debated for social security. examples include reducing future annual cost of living adjustments (cola) provided to recipients, raising the retirement age, and raising the income limit subject to the payroll tax ($118,500 in 2014). because of the mandatory nature of the program and large accumulated surplus in the social security trust fund, the social security system has the legal authority to compel the government to borrow to pay all promised benefits through 2036, when the trust fund is expected to be exhausted. thereafter, the program under current law will pay approximately 75–78% of promised benefits for the remainder of the century.
united states federal budget