Quiz: Do You Know These Social Security Facts for 2023?
December 27, 2022 by John Manganaro
Based on size alone, the Social Security system is one of the most important and popular programs operated by the federal government.
According to the Center on Budget and Policy Priorities, in 2022, fully 21% of the federal government budget, or $1.2 trillion, will be used to pay for Social Security. Apart from the money spent on operations and administration, the vast majority of those dollars go to providing monthly retirement benefits to nearly 70 million retired workers and other beneficiaries.