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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.
Social Security gradually moved toward universal coverage. By 1950, debates moved away from which occupational groups should be included to how to provide more adequate coverage. [37] Changes in Social Security have reflected a balance between promoting equality and efforts to provide adequate protection. [38] In 1940, benefits paid totaled $35 ...
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 Social Security Administration's press office provided comments after the initial publication of this story, stating that "state and local government employers are required to disclose ...
The US government passes a federal budget every year. This budget details projected tax collections and outlays and, therefore, the amount of borrowing the government would have to do in that fiscal year. A vote to increase the debt ceiling is, therefore, usually seen as a formality, needed to continue spending that has already been approved ...
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.
Helvering v. Davis, 301 U.S. 619 (1937), was a decision by the U.S. Supreme Court that held that Social Security was constitutionally permissible as an exercise of the federal power to spend for the general welfare and so did not contravene the Tenth Amendment of the U.S. Constitution.