Social Security’s Trust Fund: Where is the money?
There are two widely spread myths that have been floating around for years - that Social Security is going bankrupt, and that Congress or Presidents have raided the Trust Fund and used the money for other purposes and, if they’d just pay it back, Social Security wouldn’t be in financial trouble. Both of these assertions are false, as this Motley Fool article by Sean Williams points out. Within the article, the author takes the opportunity to discuss where Social Security’s 2.9 trillion dollar reserves actually are, how much interest is being earned, and also discusses the forecast that the Trust Fund will be depleted in 2034 and the consequences thereof.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. 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.
To read the Motley Fool article about the Social Security Trust Fund, click here.
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