Have Politicians Stolen Social Security Money? - Motley Fool
As Social Security Advisors, we are frequently contacted by disgruntled Americans who contend that all of Social Security’s financial woes could be solved if only Congress would repay all the money it has stolen from Social Security over the decades. Of course, here at the AMAC Foundation, we have carefully researched the allegation that money has been stolen and found it to be totally untrue, as we have explained in several articles which have been published in our parent company’s publication, the AMAC Magazine. Although we’ve completely researched, and we regularly debunk the allegation that politicians have stolen money from Social Security, the myth nevertheless continues, abetted by conspiracy theorists and others seeking to disparage politicians in general and Congress in particular. And while politicians, especially those in Congress, certainly provide ample fodder for criticism, stealing Social Security’s money is not one they can be blamed for. What they can, however, be blamed for is “kicking the can down the road” when it comes to resolving Social Security’s now-looming financial issues, which they have been aware of for nearly four decades.
Sean Williams of The Motely Fool (an investment company) is a frequent critic of Congressional shenanigans, and someone who also regularly writes about Social Security issues, especially those things which affect beneficiaries such as inflation, loss of buying power, yearly changes, etc. Sean’s most recent article takes on the myth that politicians have stolen Socials Security’s money. He reveals the results of his extensive research on this issue, provides details on the investments held in the Social Security Trust Funds, and reveals that if Congress were, indeed, to “pay back” the debt (investment “IOUs”) now held in the SS Trust Funds it would only accelerate Social Security’s insolvency date (the date it could no longer pay full benefits). This Motley Fool article by Sean Williams is recommended reading for anyone with questions about whether politicians have stolen Social Security money and are responsible for Social Security’s current financial woes. Click here to read the article.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee which restores the program to solvency without raising payroll taxes. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC’s Social Security Guarantee, click here.