73 Million People Receive Social Security Benefits

Apollo Chief Economist

In the United States, 73 million people receive social security benefits, see the first chart below.

Social security spending and Medicare and healthcare spending make up half of the total $6.75 trillion in federal spending, see the second chart below.

In addition, for the fiscal year 2024, the government spent more money on debt servicing costs than on Medicare and on defense, see again the second chart.

73 million people receive social security benefits
Note: Social Security beneficiaries who are entitled to a primary and a secondary benefit (dual entitlement) are counted only once. SSI counts include recipients of federal SSI, federally administered state supplementation, or both. Source: Social Security Administration, Master Beneficiary Record and Supplemental Security Record, Apollo Chief Economist
Total US federal government spending: $6.75 trillion
Source: US Treasury, Bloomberg, Apollo Chief Economist

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