Social
Security
Income
Exceeds
Expenditures: |
Example:
the 1997 Surplus Totals $75 Billion |
Currently, and
until 2019, every year, even with the most conservative projections, payroll taxes
and interest bring in more money than is needed to pay benefits. The excess revenue
is deposited in a Trust Fund to be used when future costs rise as baby boomers retire.
Trust Fund
Income
Projected
to Grow to
$3.78
Trillion by
2020: |
Source: 1998
Annual report of the Board of Trustees of the
Federal Old-Age and Survivors Insurance and Disability Trust Fund |
The Trust Fund is
currently $656 billion and is projected to be $3.78 trillion dollars in the year 2020 by
the Social Security Trustees.
