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Social Security Spending Hits Record High in Fiscal Year 2015
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by News Editor
U.S. Treasury Department building in Washington D.C. Photo: wiki commons.
CNS News – Spending by the Social Security Administration — which includes payments for Social Security and disability benefits, as well as Supplemental Security Income payments and the administrative costs for these programs — hit a record $944,143,000,000 in fiscal 2015, according to data published by the US Treasury.
Even in constant 2015 dollars (with adjustments made using the Bureau of Labor Statistics inflation calculator), that was up $33,748,280,000 from the $910,394,720,000 the Social Security Administration spent in 2015 dollars in fiscal 2014.
