Terence P. Jeffrey
December 26, 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 beneficiariesâ€”including retired workers, dependent family members and survivors and disabled workers and their dependent family membersâ€”also hit a record in December, climbing from 56,658,978 in November to 56,758,185 in December.