Don’t Throw Out Social Security with the Bathwater.
The July Treasury Report shows a deficit but the story is not as one-sided as politicians make it sound.
When the government talks about Social Security, it usually highlights one number: the outlays.
Fiscal Year to Date (through July 2025):
Social Security Outlays: $1,368.4 billion. Monthly checks and admin cost.
What gets left out? The receipts. Our contributions (from our wages).
Employment & Retirement Receipts (Off-Budget): $1,085 billion.
When you put the two together, Social Security is not a $1.37 trillion drain.
The actual shortfall is $284 billion so far this fiscal year.
Yes, Social Security needs updating. But ignoring the receipts misleads the public into thinking the program is collapsing under its own weight.
It isn’t. Don’t throw the baby out with the bathwater.
George
