Anon Archived 3 Hard-to-Believe Social Security Facts | The Motley Fool (fool.com)
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Archived on: 12/17/2019 10:00:00 AM
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Anon Archived 3 Hard-to-Believe Social Security Facts | The Motley Fool (fool.com)
submitted ago by 3430645?
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[–] 20614876? ago
They raided the SS fund in the 1960's to pay for their Welfare program.
[–] 20614242? ago (edited ago)
By law all social security surpluses must be invested in US treasuries. In other words the federal government borrows from SS, and it's part of the federal debt. So yes, despite The Motley Fool's spin, lawmakers do in effect raid the SS trust funds.
Realistically, that massive debt will be cleared by at least one of the following:
All such events will result in SS recipients (and others) being significantly poorer in income and/or spending power.