A recent article in USA Today dispels several myths about Social Security; those myths have all been discussed many times here – check the Social Security category on the right margin.
Is it going to run out of money? No, it’s not going broke. Is it going to pay full benefits forever? No, in about seventeen years revenue will only allow for payment of about 75% of earned benefits; the system is broken.
Is it because Congress stole the money from the Trust Fund? No‼️
This notion is my favorite myths. Over the years the Trust invested in special Treasury bonds which pay interest to the Trust and that interest is now used to pay benefits. The government used the money from the sale of the bonds to run the government.
Now for my favorite question for those who say the government should not have sold bonds and used the money, but rather should have left the money in the Trust.
Where should the money have been invested to generate interest while remaining as near to 100% secure as possible?
Categories: Social Security