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Social Security Trust Fund is Anything but Trustworthy: Former Official
According to a former top government official, your retirement could be at risk, and the escalating costs of Social Security, public pensions and health care are the primary reasons why. The Social Security Administration itself confirms as much, recently warning that part of Social Security—the Disability Insurance Trust Fund—could run out of money as early as next year. That could leave the nearly 11 million people who depend on disability payments without necessary funds. David Walker, the former Comptroller of the United States, echoed those concerns in an interview with CNBC’s “On the Money” recently….Walker says the federal government “uses words that don’t mean the same thing as Webster’s Dictionary.” Citing the term “trust fund” as an example, the former official said “You can’t trust it, it’s not funded. What’s in the trust fund is government debt.” Read More…
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