That Is The Estimated Unfunded Social Security And Medicare Liability

 

Topline

 $175,300,000,000,000 is the most important financial number in the world.

The Treasury estimates that the U.S. will spend $215.7 trillion in the next 75 years to give Social Security and Medicare payouts to beneficiaries.

A child born today will pay missive taxes into Medicare and Social Security over the next 75 years.

The Treasury estimates that current participants will use $105.4 trillion more from Medicare and Social Security than those same people pay into the programs through taxes.

Medicare Part B is the largest liability with an unfunded $99.5 trillion.

We fund them in three ways: payroll taxes, premium payments on Medicare plans, and taxes on large Social Security payouts.

Medicare spent $446 billion more than it collected and Social Security was upside-down $88.8 billion last year.

Social Security will rise to 6.4% from 4.9%. U.S. law sets a flat rate of money that the government must provide for Social Security and Medicare each year. 

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