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Social Security Ran $47.8B Deficit in FY 2012; Disabled Workers Hit New Record in December: 8,827,795
Posted By admin On December 27, 2012 @ 7:02 am In Money Watch | Comments Disabled
Terence P. Jeffrey
CNS News 
Dec 27, 2012
The Social Security program ran a $47.8 billion deficit in fiscal 2012 as the program brought in $725.429 billion in cash and paid $773.247 for benefits and overhead expenses, according to official data  published by Social Security Administration.
The Social Security Administration also released new data  revealing that the number of workers collecting disability benefits hit a record 8,827,795 in December–up from 8,805,353 in November.
The overall number of Social Security program beneficiaries—including retired workers, dependent family members and survivors and disabled workers and their dependent family members—also hit a record in December, climbing from 56,658,978 in November to 56,758,185 in December.
In 2011, according to the Bureau of Labor Statistics, there was an average of 112.556 million full-time workers in the United States, of whom 17.806 million worked full-time for local, state or federal government. That left an average of only 94.750 million full-time private sector workers in the country.
That means that for every 1.67 Americans who worked full-time in the private sector in 2011, there is now 1 person collecting benefits from the Social Security administration.
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URL to article: http://www.prisonplanet.com/social-security-ran-47-8b-deficit-in-fy-2012-disabled-workers-hit-new-record-in-december-8827795.html
URLs in this post:
 CNS News: http://cnsnews.com/news/article/social-security-ran-478b-deficit-fy-2012-disabled-workers-hit-new-record-december
 official data: http://www.ssa.gov/OACT/ProgData/allOps.html
 new data: http://www.socialsecurity.gov/OACT/ProgData/icp.html
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