- The Social Security Trust Fund is the biggest ever. Eventually changes will be needed. This has always been true.
- In 1982 the Trust Fund ran completely out twice! It had to borrow a little money both times.
- But it did not miss a single benefit payment. [email_link]
- Now (Jan 2013) it contains $2.7 trillion.
- Social Security is in the best shape it’s ever been in. Yes, eventually it will need adjusting — it’s always been like that.
- In 2012 it grew by $54 billion, and even as a % of GDP it increased a hair to 17.8%.
- The trust fund is loaned to the federal government, largely to pay for the military, so the federal government pays interest on that loan. Without the trust fund the federal government would have borrowed that money from Americans, Chinese or maybe the Saudis and would still have to pay interest. So the S.S. Trust Fund is helping not hurting.
- Republicans say “There’s no money in the trust fund, just paper.” This is like saying to someone with $1 million in the bank, “No you have nothing, your money is gone; the bank loaned it all out.” Even Republicans know banks loan out the money you deposit.
