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From Intuit:

“The three biggest categories of expenditures are:

Major health programs, such as Medicare and Medicaid

Social security

Defense and security

Interest on the national debt and various safety net programs such as low-income assistance comprise a sizable chunk of national expenditures, while other categories such as transportation and infrastructure spending round out the government budget.”

Entitlements (social security and Medicare) make up the largest item, and have been projected to cripple the US economy due to projected eligibility growth.
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Ferret 2y ago

Is USA social security like “old age pension”? After say age 65 they get monthly set amount of money, That’s what we call it here.

Or is social security, aka wellfare money for ppl that can’t or choose not to work?

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CensorThis 2y ago

Old people pension

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nobody 2y ago

Yes. The age is now 67.

The payment is a pittance, and almost nobody can live off it.

There have been several attempts by conservatives over the years to privatize social security, because it consistently underperforms private retirement investments.

At this point there is no money kept for social security. The money collected by people working today is directly transferred to retirees.

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Ferret 2y ago

K, ya, same here too. Govt Pension is very little here, not enough to live comfortably

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nobody 2y ago

My grandmother receives about $900 a month. Not even enough to pay household bills once you include utilities. She’d be homeless.

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Ferret 2y ago

Sad. And likely to become worse with decade or two

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nobody 2y ago

Yes. With inflation, a massive national debt, and the dollar’s reserve status being under threat, along with looming war with Russia and possibly China - I am not overly optimistic about the US economy.