bemused_leftist (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
bemused_leftist) wrote2010-05-27 01:29 am
bemused_leftist) wrote2010-05-27 01:29 am
(no subject)
Speaking of Social Security, I keep seeing people say that it takes some large chunk of the federal budget — without mentioning that it also BRINGS IN a large chunk of the federal income. Plus it has a reserve that earns interest.
Unfortunately Congress has been borrowing from that reserve for decades — but that is not SS’s fault.
Unfortunately Congress has been borrowing from that reserve for decades — but that is not SS’s fault.
no subject
SS hasn't yet needed to call back money loaned from the reserve. The reserve is for periods when there may be more retirees than workers, but that hasn't happened yet. (And with all these new immigrants, it may not happen.)
See http://www.ssa.gov/OACT/STATS/table4a3.html
Scroll down to current dates and see how much the reserve is growing.