What Happened To The Money In Our Social Security Trust Fund?

What happened to the money in our Social Security Trust Fund?  People ask the question over and over.  They word it different ways.  But the same question comes through. Whether it is on here on  TheSeniors.Center, over at The Seniors Center Facebook page, on Dan Perrin’s Quora site, through email, or on Google, people keep asking.

Palates of money
Congress has spent over $2,850,000,000,000 ($2.85 Trillion) from the Social Security Trust Fund

It’s hard to believe and impossible to justify. But it is true.  While the American people diligently paid into the Social Security Trust Fund, Congress systematically took the money and spent it on just about every government program out there.  Republicans like to blame the Democrats and point out that Social Security money was spent on Obamacare.  That’s true, it was.  And the Democrats, blame the Republicans, saying that Social Security money was spent on the wars in Iraq and Afghanistan.  That’s also true, it was.  Money from our Social Security Trust Fund has helped justify tax cuts and spending plans.

Congress has spent every last dime.  Today, so-called leaders of both political parties say they are worried about the “future” of “entitlements.” They call for “reform.” And they refuse to accept responsibility. Those very people who made the decisions to raid our Social Security Trust Fund are now asking retirees to sacrifice while taking no blame themselves.

They criticize The Seniors Center and our members and they even deny the raid saying they always planned to pay the Social Security Trust Fund back.  They’re outraged that we expose their lies.  And they rightly point out that repaying the Social Security Trust Fund won’t fix everything.

And they’re right. Repaying the Social Security Trust Fund won’t fix everything.  But it’s a good start.  Repaying the Social Security Trust Fund will ensure solvency for 16 years. And it’s the right thing to do.

Spending the money in our Social Security Trust Fund was just one of the things that Congress has done to damage its future.  Through neglect, ignorance, and financial malfeasance, Congress has sent the Social Security Trust Fund on a path towards bankruptsy.

It’s time for Congress to start the painful process of repairing the damage they’ve done.

 

 

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