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[USAFacts]([link removed])

Our statement on Friday's BLS news

At USAFacts, we rely heavily on data from the Bureau of Labor Statistics to=
help Americans understand what=E2=80=99s happening in the economy. The BLS=
provides crucial metrics on how many people are employed, what they=E2=80=
=99re earning, and much more.=E2=80=AF=E2=80=AF=C2=A0
=C2=A0
President Trump ordered the firing of BLS Commissioner Erika McEntarfer on =
Friday. This decision, which came after a lower-than-expected jobs report, =
has created fears of future politicization of one of the nation=E2=80=99s m=
ost critical economic data agencies.=E2=80=AF

The United States is the global standard for economic data because of the i=
ndependence granted to statistical agencies. Politicizing that process is a=
serious departure from that tradition. This administration =E2=80=94 and e=
very administration =E2=80=94 should protect this independence.=E2=80=AF

Data about jobs, prices, and wages belong to the American people. Your tax =
dollars fund this work. You deserve accurate, timely information that=E2=80=
=99s free from political interference.=E2=80=AFUndermining trust in officia=
l statistics threatens the integrity of the data that millions of everyday =
Americans depend on to understand our economy.
=E2=80=AF=E2=80=AF=C2=A0
[Read our full statement here]([link removed]
statement-regarding-todays-news-about-activity-7357154149119004675-K5e1?utm=
_source=3Dshare&utm_medium=3Dmember_desktop&rcm=3DACoAAAGmdM4BMAmaTeEPYQLJ-=
4KIg7BZZfTLUFo). And if you want to know what goes into the monthly jobs re=
port and why those numbers are sometimes revised, [read this article](https=
://usafacts.org/articles/how-does-the-us-government-gather-the-monthly-jobs=
-report/).

Why Social Security funds could run out in the next decade

The Social Security system brought in more money than it paid out every yea=
r from 1982 to 2020. But since then, it=E2=80=99s run on a deficit. The Soc=
ial Security Administration (SSA) projects that the trust funds supporting =
the program [could be depleted by 2034]([link removed]
uch-does-the-us-spend-on-social-security-is-it-sustainable/) unless Congres=
s acts to change it. Let=E2=80=99s dive deep into this issue. =C2=A0

How Social Security works=C2=A0

- US workers pay into the trust funds through payroll taxes and employers m=
atch these contributions. The SSA estimates that workers contributed $1.3 t=
rillion to the trust funds in 2024. These payroll taxes go into the Old-Age=
and Survivors Insurance and Disability Insurance trust funds, which fund S=
ocial Security. The funds were worth a combined $2.7 trillion at the end of=
2024.

[Social Security trust fund reserves]([link removed]
h-does-the-us-spend-on-social-security-is-it-sustainable/)

- The number of Social Security recipients has grown by 266% since 1970. Th=
e SSA projects that nearly 69 million people will receive monthly benefits =
this year. Nearly 90% of people 65 and older were in the program at the end=
of 2024. =C2=A0
=C2=A0
- The 68.5 million recipients in December 2024 included: =C2=A0

- 51.8 million retired workers and their 2.6 million spouses and dependents
=C2=A0
- 7.2 million disabled workers and their 1.1 million spouses and dependents
=C2=A0
- 5.8 million survivors of eligible deceased family members who had paid So=
cial Security taxes

[Number of Social Security recipients]([link removed]
ch-does-the-us-spend-on-social-security-is-it-sustainable/)

- Retirees and dependents received an average monthly benefit of $1,975 in =
December 2024 for a total of $104.7 billion. The SSA distributed an average=
of $1,581 to disability recipients and their dependents (totaling $11.9 bi=
llion). Survivors received an average of $1,546 (totaling $8.9 billion)=C2=
=A0
=C2=A0
- The trust funds supporting Social Security have run on a deficit since 20=
21. In 2024, they took in $1.42 trillion and spent $1.48 trillion, depletin=
g the funds by a record $67 billion. Since reaching their peak in 2020, the=
overall value of the trust funds has decreased by $187 billion, or 6.4%.

Why are funds shrinking?

- The Social Security model relies on a balance between workers paying into=
the trust funds and beneficiaries receiving those funds. While Americans a=
re living longer and the baby boomers have entered retirement age, the aver=
age birth rate has declined, meaning relatively fewer people are entering t=
he workforce each year.

- The Census Bureau tracks this balance with a broad =E2=80=9Cdependency ra=
tio,=E2=80=9D which is the number of =E2=80=9Cdependent-age=E2=80=9D people=
(those younger than 15 or older than 65) for every 100 =E2=80=9Cworking-ag=
e=E2=80=9D people (15 to 64). In 1960, there were 52.0 children and 15.5 el=
ders per 100 working-age people. In 2023, there were 27.5 children and 27.4=
elders per 100 working-age people.

[Share of total population by age group]([link removed]
much-does-the-us-spend-on-social-security-is-it-sustainable/)

A record number 4.3 million babies were born in 1957. =C2=A0People born tha=
t year turned 65 in 2022. Since then, the share of the population that=E2=
=80=99s 65 and older nearly doubled, from 9.0% to 17.2%. Around 1960, 65-ye=
ar-olds were expected to live to the age of 79. In 2022, they were expected=
to live to 84. =C2=A0
=C2=A0
The national birth rate has been declining since 1990. Births are not the o=
nly way the workforce can grow =E2=80=94 [nearly 20%]([link removed]
articles/how-many-immigrants-are-in-the-american-workforce/) of all workers=
in 2024 were immigrants =E2=80=94 but the slowing birth rate has contribut=
ed to a shifting US age distribution.=C2=A0
=C2=A0
The SSA expects the number of Americans 65 and older to grow by 26% in the =
next 12 years, from about 61 million in 2023 to about 77 million in 2035.=
=C2=A0

So, is Social Security running out? Track the trends in several more charts=
[at USAFacts]([link removed]
social-security-is-it-sustainable/) and decide for yourself.

[Want to see more?]([link removed]
d-on-social-security-is-it-sustainable/)

Data behind the news

The Corporation for Public Broadcasting (CPB) has announced that it will sh=
ut down following the [Rescissions Act of 2025]([link removed]
es/whats-in-the-rescissions-act-of-2025/), which cut $1.1 billion in CPB fu=
nding through fiscal year 2027. CPB provides funding for public media and r=
adio organizations such as PBS and NPR.=C2=A0
=C2=A0
New tariffs on dozens of countries ranging from 10% to over 40% are set to =
start on Thursday. Take a=E2=80=AF[deep dive]([link removed]
-facts/trade/)=E2=80=AFon trade and tariffs with USAFacts Founder Steve Bal=
lmer.=C2=A0

Last Friday, a gunman shot and killed four people at a Montana bar. And on =
July 28, a gunman killed four people at an office building in Manhattan bef=
ore killing himself. [This article from our archives]([link removed]
articles/what-is-considered-a-mass-shooting/) has governmental definitions =
on mass shootings. =C2=A0
=C2=A0
Over 3,000 Boeing workers who build fighter jets are [going on strike](http=
s://usafacts.org/articles/how-many-labor-strikes-every-year/) after failing=
to reach an agreement on wages and retirement benefits.=C2=A0

Are you up for the [weekly fact quiz]([link removed]
/)?=C2=A0

One last fact

[Nearly 1 in 4 Americans receive Medicaid or CHIP assistance]([link removed]
cts.org/articles/whats-in-the-one-big-beautiful-bill/)

Medicaid covered nearly 85 million people as of June 2024. According to the=
Congressional Budget Office, the changes to Medicaid and health insurance =
outlined in the [One Big Beautiful Bill]([link removed]
s-in-the-one-big-beautiful-bill/) Act could lead to 16 million fewer people=
with insurance by 2034.=C2=A0

=E2=80=8A

[USAFacts]([link removed])

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