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Reply #11: There is an account in government...
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punpirate
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Wed Feb-09-05 07:23 PM
Response to Reply #8 |
11. There is an account in government... |
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... for SS funds held in trust. Much of that money (during the Reagan and Bush years, and about 3/4s of the Clinton administration) was loaned back out to the government to cover deficits. Congress is required to repay those loans as the money is required by Social Security. So, there is money in trust, and a helluva lot more a few hundred million. It's just been loaned for deficit spending.
The only way that money doesn't exist is if Congress reneges on making appropriations out of general revenues to pay it back.
Cheers.
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