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Social Security Administration. Understandably, the most detailed calculator on this list comes directly from the Social Security Administration. You’ll have the same basic information available ...
Social Security can seem like something of a black box, but SmartAsset’s Social Security Calculator gives you a look inside. Input your birth year, income and the age you expect to start ...
Despite what you might have heard, Social Security will not run out of money next decade. But under the current system, the program's reserve trust funds are expected to be tapped out by 2035 ...
Because Social Security tax receipts and interest exceed payments, the program also reduces the size of the annual federal budget deficit commonly reported in the media. For example, CBO reported that for fiscal year 2012, the "On-budget Deficit" was $1,151.3 billion. Social Security and the Post Office are considered "Off-Budget".
Other parts of Medicare also are costly. Note that the Social Security surplus tax receipts reduce the "total" deficit figure often reported in the media. If we go from a $200 billion Social Security surplus today to a $200 billion deficit in the future, this is a $400 billion increase to the deficit often reported in the media.
One chart tells you all you need to know about Social Security’s troubles.
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