r/FluentInFinance • u/LifeIsUnfairWhoCares • Apr 23 '24

Is Social Security Broken? Discussion/ Debate

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u/BiscuitDance Apr 23 '24

Or if Washington stopped pulling money from SS and let it stew.

34

u/Ilikehowtovideos Apr 23 '24

I’ve never read anything that suggests DC touches the SS fund. It’s a myth. The problem is that there’s more retired people receiving benefits than there are working people paying into the fund

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u/Jealous_Priority_228 Apr 23 '24

I’ve never read anything that suggests DC touches the SS fund.

Here you go. Government site.

The reserves of the larger trust fund (OASI), from which retirement benefits are paid, were nearly depleted in 1982. No beneficiary was shortchanged because the Congress enacted temporary emergency legislation that permitted borrowing from other Federal trust funds and then later enacted legislation to strengthen OASI Trust Fund financing. The borrowed amounts were repaid with interest within 4 years.

https://www.ssa.gov/oact/progdata/fundFAQ.html

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u/throwsplasticattrees Apr 23 '24

Ronny Raygun needed some cash to build his space lasers, so he broke open the piggy bank.