Social Security Administration

At a Glance

The Social Security Administration runs Old-Age, Survivors, and Disability Insurance, which is the largest federal program. It also runs Supplemental Security Income. These programs are growing rapidly and are financially unsustainable without restructuring. Reforms should promote greater reliance on personal savings for periods of disability and retirement.

The Social Security Administration will spend $1 trillion in 2019, which is about $8,660 for every U.S. household. After adjusting for inflation, spending has increased 64 percent since 2000.

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Explore a historical timeline of the Social Security Administration, detailing major reforms, benefit expansions, and fiscal developments across its history.

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Social Security Administration Static Graph — This chart was generated using our interactive charting tool, which visualizes data from the federal spending database released by the Office of Management and Budget (OMB).

Study

Reforming Social Security Retirement

By Chris Edwards and Michael D. Tanner

Social Security faces a huge financing gap because of its pay-as-you-go structure and the aging of the population. It should be transitioned to a system of personal savings accounts, which would increase financial security and help to avert future tax increases.

Study

The Rising Cost of Social Security Disability Insurance

By Tad DeHaven

Growing numbers of Americans are receiving disability benefits, and the system is subject to major abuses. Policymakers should tighten eligibility for the program and explore ways to move it to the private sector.

Study

Supplemental Security Income: A Costly and Troubled Welfare Program

By Tad DeHaven

This program for low-income and disabled individuals suffers from similar abuses as Disability Insurance. The financing and administration of Supplemental Security Income should be devolved to the states.

The federal government is running huge budget deficits, spending too much, and heading toward a financial crisis. Without a change of direction in Washington, average working families will be faced with large tax increases and a lower standard of living. This project is designed to help policymakers and the public understand where federal spending goes and how to reform each government department. It describes the failings of agencies and identifies specific programs to cut. It also discusses the systematic reasons why government programs are often obsolete, mismanaged, or otherwise dysfunctional.

Please contact Chris Edwards at cedwards@cato.org with questions or comments.

Information on the data sources for our charts.

Social Security Administration

Social Security Administration Spending

Featured Content

Reforming Social Security Retirement

The Rising Cost of Social Security Disability Insurance

Supplemental Security Income: A Costly and Troubled Welfare Program

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