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Anyone's Guess

Anyone's Guess

| June 18, 2020
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When President Roosevelt proposed the Social Security retirement program idea in 1935, FDR’s financial team projected total Social Security expenditures would reach $1.3B in 1980.  The actual Social Security outlay in 1980 was $149B.  The analysts' estimate was less than 1% of the actual expenses. (Source: Social Security)

Social Security outlays for the fiscal year 2019, i.e. 12 months ending 09/30/19, were $988B.  In August of last year, the Congressional Budget Office projected that total  outlays for the fiscal year of 2029 will be $1.82T.

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