Social Security has released information showing how its trust funds have done through the end of 2023. Here are summaries for the Old Age and Survivors Trust Fund and the Disability Insurance Trust fund for the last five years. You'll notice that they're heading in opposite directions. I expect that money will eventually be diverted from the Disability Insurance Trust Fund to the Old Age and Survivor's Trust Fund, not that it will be enough to make much difference.
| Calendar year | Total income | Total outgo | Net increase in asset reserves |
Asset reserves at end of calendar year |
|---|---|---|---|---|
| 2019 | $917,873 | $911,423 | $6,450 | $2,804,322 |
| 2020 | 968,348 | 960,954 | 7,394 | 2,811,716 |
| 2021 | 942,856 | 1,001,936 | -59,080 | 2,752,636 |
| 2022 | 1,056,718 | 1,097,455 | -40,737 | 2,711,899 |
| 2023 | 1,166,885 | 1,237,294 | -70,409 | 2,641,490 |
| Calendar year | Total income | Total outgo | Net increase in asset reserves |
Asset reserves at end of calendar year |
|---|---|---|---|---|
| 2019 | $143,901 | $147,876 | $-3,974 | $93,083 |
| 2020 | 149,748 | 146,260 | 3,488 | 96,570 |
| 2021 | 145,470 | 142,646 | 2,824 | 99,394 |
| 2022 | 165,063 | 146,470 | 18,594 | 117,988 |
| 2023 | 183,801 | 154,815 | 28,985 | 146,973 |
I worry less about the disability or retirement trust funds than I do Medicare. Highest medical use generally comes with age. Hospitals cannot survive on the payments from Medicare being so low. Medicare cant pay more. Rural hospitals are closing because Medicare and Medicaid payments are not enough to keep the doors open. This is happening NOW all over the country. How long till it hits major cities with Medicare and Medicaid users in high numbers outnumbering working insured to foot the bill.
ReplyDeleteGolden Years, only if you have the gold.
The OASI trust fund is 10x the size of the DI trust fund. The annual deficit in OASI will soon be nearly as large as the entire DI TF.
ReplyDelete@11:37
ReplyDeleteSure, but the OASI's current balance is also nearly 20x DI's TF.