Category Archives: Updates

Does the Social Security Trust Fund really have $2.8 Trillion in assets to pay your Social Security Benefits?

Over at Quora, a questioner asked Does the Social Security Trust Fund really have $2.8 Trillion in assets to pay your Social Security Benefits?.  The Seniors Center President Dan Perrin answered:

There is no money in the Social Security Trust Fund. Our Trust Fund exists on paper in a filing cabinet at the Bureau of Public Debt in Parkersburg, West Virginia.

Since the mid-1980s Congress has systematically raided the Social Security Trust Fund, spent the money that was supposed to help pay for retirement for baby boomers, and replaced it with non-negotiable Treasury Bonds (stored in that filing cabinet in Parkersburg, West Virginia).

Members of both parties in Congress like to call the $2.8 Trillion that the US Government owes to the Social Security Trust Fund an asset. But, seriously, where is the money to repay the Social Security Trust Fund supposed to come from?

With a $660 Billion Deficit in 2017 and deficits projected to keep going up, the government does not have the money repay the Social Security Trust Fund. Even the “interest” the US Treasury owes to the Social Security Trust Fund is paid with the issue of more Bonds.

For more than 30 years, we’ve asked Congress to have the discipline to leave our Social Security Trust Fund alone. And for 30 years, they’ve spent every penny. Now they’re asking us to trust them to have the discipline to pay it back.

Working Together to Save Our Social Security Trust Fund

Nearly 350,000 people have signed The Seniors Center Petition to stop the raid on the Social Security Trust Fund.  And that’s just the beginning of this amazing grassroots campaign that has brought together senior citizens from every Congressional district in America.  We’re speaking with one voice.  Senior Citizens are making it clear to Congress: It’s… Continue Reading

Where did all the Social Security trust fund money go?

In addition to leading The Seniors Center, Dan Perrin has become one of the most popular experts on Information-sharing website Quora, where he answers questions from the general public about Social Security, Healthcare, and other issues important to Senior Citizens.  He recently answered a reader’s question, “Where did all the Social Security trust fund money… Continue Reading

“What in heaven’s name are you going to do with $47 billion?”

“What in heaven’s name are you going to do with $47 billion?”  That’s what U.S. Senator Arthur Vandenberg of Michigan asked when President Franklin Roosevelt proposed building a balance in the Social Security Trust Fund. Senator Vanderberg went on to worry that the Social Security Trust Fund would lead to Socialism. He should have worried… Continue Reading

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… Continue Reading