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Social Security Administration Spending Tops $1 Trillion for First Time – CNS News

(CNSNews.com) –  In fiscal 2017, real Social Security Administration spending topped $1 trillion for the first time, according data published in the Monthly Treasury Statement.The Social Security Administration spent a total $1,000,812,000,000 in fiscal 2017, according to the Treasury.

That was about 37 times as much as the Department of State spent during the year ($27,061,000,000), 32 times as much as the Department of Justice ($30,977,000,000), and 20 times as much as the Department of Homeland Security ($50,502,000,000).

The $1,000,812,000,000 spent by the Social Security Administration in fiscal 2017 was also about 76 percent more than the federal government spent on Department of Defense and Military Programs ($568,905,000,000) during the year.

ccording to the Monthly Treasury Statement, the only major spending category that absorbed more money than the Social Security Administration in fiscal 2017 was the Department of Health and Human Services, which spent $1,116,764,000,000.

The combined $2,117,576,000,000 that the federal government spent on HHS and the Social Security Administration in fiscal 2017 equaled 53.2 percent of the $3,980,605,000,000 in total federal spending for the year.

Real Social Security Administration spending first topped $600 billion in fiscal 1997. It then topped $700 billion in 2006, $800 billion in 2009 and $900 billion in 2013.

The record $1,000,812,000,000 that the Social Security Administration spent in fiscal 2017, as reported in the Monthly Treasury Statement, encompassed both the Social Security program itself (which includes Old-Age and Survivors Insurance and Disability Insurance) and the Supplemental Security Income Program. The latter is administered by the Social Security Administration but is funded by general federal tax revenues.

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