Breakdown of Federal Expenditures:
People retiring today will receive all the money they ever put into Social Security + interest in 3 yrs (36 checks)!
After that, what would you call Social Security payments?
Notes:
A two years or so ago, ABC’s 20/20 news magazine broadcast did a story on the Social Security program and calculated that people retiring then would receive all the money they had ever put into Social Security, plus the statutory interest earned, in just three years. That is 36 Social Security checks.
Assuming that this is true, what would you call that 37th Social Security check??? Who is paying for the benefits received by retirees after check number 36??