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Social Security is not bankrupt.
The Social Security Trust Fund holds a $2.6 trillion surplus,
contributed by American workers and invested, sensibly, in one of the
world's safest investment vehicles - U.S. Treasury notes. However,
fiscal conservatives don't want to honor that debt so they pretend it's
worthless or non-existent. That $2.6 trillion was real money when
Americans paid it in payroll taxes and real money when the federal
government borrowed it. It's also real money when Washington needs to
pay it back.
Social Security is not a Ponzi scheme by any definition; it is a pay-as-you-go program which has been self-funded by American workers not the federal government . CBPP, Understanding the Trust Funds |
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