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At the end of 2009, the Trust Fund stood at $2.5 trillion. The $2.5 trillion amount owed by the federal government to the Social Security Trust Fund is also a component of the U.S. National Debt, which stood at $15.7 trillion as of May 2012. [18] By 2017, the government had borrowed nearly $2.8 trillion against the Social Security Trust Fund.
The federal government can borrow money from Social Security funds, but it must pay the money back plus interest. Social Security: 20% Cuts to Your Payments May Come Sooner Than ExpectedLearn: 4...
Twenty GOP senators voted against legislation approved by the Senate late Friday that would bolster Social Security benefits for more than 2 million American citizens working in a range of ...
Public sector employees include anyone who works for the government, a government-funded organization or a school, according to the U.S. Department of Labor and the University of Pittsburgh's ...
The US Senate passed a bipartisan bill early Saturday to increase Social Security benefits for close to 3 million federal, state and local public sector workers, which includes firemen, policemen ...
This debt mainly represents obligations to Social Security recipients and retired federal government employees, including military. In the United States, intragovernmental holdings are primarily composed of the Medicare trust funds, the Social Security Trust Fund, and Federal Financing Bank securities. A small amount of marketable securities ...
If the federal government shuts down this weekend, work at numerous publicly funded agencies would slow or stop altogether, while millions of government employees would stop receiving paychecks.
The American social security system (1949) comprehensive old overview. Burns, Eveline M. Toward Social Security: An Explanation of the Social Security Act and a Survey of the Larger Issues (1936) online; Davies, Gareth, and Martha Derthick. "Race and social welfare policy: The Social Security Act of 1935." Political Science Quarterly 112.2 ...