The Average American Retiree Gets $1,670 from Social Security – Take a Look at How Big Joe Biden's Check Is

Eighty-seven years after the Social Security program was signed into law in August 1935, an average of 66 million Americans are receiving a benefit check each month.

One of those Americans is a guy who resides at 1600 Pennsylvania Avenue in Washington, D.C.: our 46th president, Joe Biden.

Biden, 79, and his wife Jill Biden, 71, are among the 66 million Americans who collect a Social Security check each month, according to a report by Sean Williams, writing for The Motley Fool.

The program has become a lifeline for many.

According to the Social Security Administration, for many Americans (37 percent of men and 42 percent of women), that monthly check makes up at least half of their income. For 12 percent of men and 15 percent of women, it makes up 90 percent or more of their income.

That group, of course, does not include Joe Biden.

The average monthly Social Security check was $1,670.95 as of July. According to Williams’ report, Joe and Jill Biden get a lot more than that.

“Last year, the Biden’s claimed $54,665 in Social Security income on a joint basis, which works out to about $4,555 each month. Even taking into account that this $4,555 figure is the combination of Joe’s and Jill’s monthly payout, this is well above what the average retired worker brings home each month from Social Security,” Williams reported.

With a 2023 cost of living adjustment tied to the inflation rate — which hit a 40-year high of 9.1 percent in June — Williams said that figure is likely to grow. “Following a 5.9% COLA that was passed along to beneficiaries in 2022, it wouldn’t be a surprise to see the Biden’s taking home well in excess of $60,000 a year, jointly, from Social Security come their 2023 federal tax filing,” he wrote.

Williams said it appears the Bidens have hit Social Security’s maximum monthly payout, which in 2021 was $3,148 per month for a worker at full retirement age.

“According to archived tax returns, the adjusted gross incomes (AGIs) for the Bidens fluctuated between $210,797 and $407,009 from 1998 through 2016,” he reported.