Old-Age, Survivors and Disability Insurance Program - OASDI

Old-Age, Survivors, and Disability Insurance Program, or OASDI, is the legal name for the program we all commonly refer to as Social Security. It’s like how Jay-Z’s real name is Shawn Corey Carter, but no one calls him that. Except maybe Beyoncé.

Anyway, the whole point of OASDI, or Social Security, is to provide a little extra federally-funded income for folks who need it, but might not be able to go out and earn it. Like retirees, folks with disabilities, and their family members. This program is the single biggest line item on our annual federal budget—we’re talking $950 billion in 2017 alone—but skeptics say that, unless we make some serious changes to it, and fast, there’s a really good chance it’ll run out of money by the year 2034.

Sounds like OASDI might soon have 99 problems of its own.