Money & budgets
Social Security
The federal retirement, survivors, and disability insurance program, funded by payroll taxes and paid as an entitlement under permanent law.
In full
Benefits are based on lifetime earnings and are adjusted annually for inflation. Because Social Security is mandatory spending, it continues without an annual appropriation and is unaffected by a government shutdown. Its trust fund holds Treasury securities; when projections show it running out, that means incoming taxes would cover only part of scheduled benefits, not that payments stop.
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