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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...
The "Social Security Trust Fund" comprises two separate funds that hold federal government debt obligations related to what are traditionally thought of as Social Security benefits. The larger of these funds is the Old-Age and Survivors Insurance (OASI) Trust Fund, which holds in trust special interest-bearing federal government securities ...
The Social Security surplus reduces the amount of U.S. Treasury borrowing from the public, as the surplus funds may be used for other government purposes. The total balance of the trust funds was $2.4 trillion in 2008 and is estimated to reach $3.7 trillion by 2016.
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 ...
Even though supporters of the Social Security Fairness Act argue it will only drain the Social Security fund six months earlier than otherwise expected, some critics believe there are better ...
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 ...
He pointed out the expansion of the Social Security tax, which has been around since Aug. 14, 1935, when President Franklin D. Roosevelt signed the Social Security Act.