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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.
"In essence, this money has been stolen from all of us for all these years," said an 84-year-old woman whose late husband's Social Security benefits were slashed. "It's not fair."
While U.S. lawmakers tussle over how best to fix Social Security as one of the program's major trust funds heads toward depletion, some folks in the private sector favor a radical change that would...
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 ...
Bottom line. Trump’s proposal to cut Social Security taxes highlights the ongoing debate about the program’s complexities. While some recipients could benefit from tax-free benefits ...
Discretionary spending includes both defense and non-defense spending elements, but excludes mandatory programs such as Social Security and Medicare. The Budget Control Act of 2011 included both caps on discretionary spending as well as the sequester, both of which reduce discretionary spending. CBO projected in February 2013 that under the ...
Most Americans approaching retirement age are probably aware that Social Security will lose a major funding source in a decade or so. That source, the Old Age and Survivors Insurance (OASI) Trust...
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.