Breaking Down America's Social Security Time Bomb

Here is a chart from reader Tim Wallace showing social security and disability stats for June of 2012 compared to June in prior years.

Social Security Disability

Photo: Mish’s Global Economics

The chart shows those receiving benefits. Those not in the labour force claiming a disability is much higher.

Not in labour Force – With a Disability, 16 Years and Over

Disability Numbers

Photo: Mish’s Global Economics

In terms of effect on unemployment stats, the above chart applies.

Beneficiary Data

Beneficiary Data in first chart is from Social Security Online. Here are additional charts from the site.

Number of Beneficiaries by Type

Disability Beneficiaries

Photo: Mish’s Global Economics

Number of Beneficiaries as of December 2011

Disability Beneficiaries

Photo: Mish’s Global Economics

A few more charts will put this in perspective.

Civilian labour Force

labour Force

Photo: Mish’s Global Economics

Private Employment

Private Employment

Photo: Mish’s Global Economics

Quick Stats

  • As of 2012-06 the civilian labour force was 155,163,000
  • As of 2012-06 there were 111,145,000 in the private workforce
  • As of 2012-06 there were 56,174,538 collecting some form of SS or disability benefit
  • Ratio of SS beneficiaries to private employment just passed the 50% mark (50.54%)

Here is one final chart to ponder.

Social Security Benefits in Dollars

Social Security Benefits

Photo: Mish’s Global Economics

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