Category Archives: Ask Dan Perrin

Has Congress really borrowed trillions from Social Security for government spending?

The Seniors Center President Dan Perrin answerd “Has the U.S. Congress really borrowed trillions from Social Security to use for government spending?” on Quora:

Yes. In 1983, The Greenspan Commission came up with a plan to save money to provide for the retirement of the Baby Boom Generation. President Reagan and the Democrat-controlled Congress agreed with the plan and raised Social Security withholding which immediately resulted in a large surplus in the Social Security Trust Fund.

Unfortunately, Congress saw that surplus and decided to borrow and spend it. It was all very legal. In fact, the United States Treasury even created special bonds to to show how much money they owed to Social Security.

Over the next thirty years, that surplus grew to almost $3 Trillion. And Congress continued borrowing it.

Now, the Social Security Trust Fund sits empty — there isn’t enough money to pay the benefits that are owed this year. But there is a file cabinet in Parkersburg, West Virginia filled with those special bonds the Treasury issued to replace the money in the Social Security Trust Fund

In Washington, the Democrats often accuse the Republicans of “raiding” the Social Security Trust Fund. And the Republicans accuse the Democrats of “raiding” the Social Security Trust Fund. Both are right. Neither party has been able to resist the urge to spend the money that doesn’t belong to them.

The Seniors Center President Dan Perrin regularly answers questions from the public on Quora.  Over half a million people have read his answers and he is one of Quora’s top-ranked experts on Social Security, Government, and several other issues.

Has the U.S. Congress really borrowed trillions from Social Security to use for government spending?

The questioner on Quora wants to know “Has the U.S. Congress really borrowed trillions from Social Security to use for government spending?” The Seniors Center President Dan Perrin, who is Quora’s top-ranked Social Security writer, answers “In Washington, the Democrats often accuse the Republicans of “raiding” the Social Security Trust Fund. And the Republicans accuse… Continue Reading

The Seniors Center President Dan Perrin on Quora

Dan Perrin, President on The Seniors Center is one of the top-ranked writers on Information sharing website Quora where Dan answers questions from the public about Social Security and Healthcare.  Click here to Read Dan’s posts on the Social Security Trust Fund. As President of The Seniors Center, Dan has built a grassroots movement of… Continue Reading

The Seniors Center announces Dan Perrin Most Viewed Writer in Social Security on Quora in this morning’s news release

This morning, The Seniors Center was delighted to announce President Dan Perrin has reached the #1 spot on Most Viewed Writers on Quora in Social Security and Government with over 353,000 views. Dan has been hard at work answering YOUR questions about your Social Security benefits and offering his thoughts about current Social Security policy… Continue Reading