Best Answer

Roosevelt used SS funds to build the Atomic Bomb, Truman used SS Funds, Eisenhower used SS to build the Interstate and Kennedy and every President since has used SS Funds. The so called Social Security Trust Fund exists in name only, and they are comingled with the general fund.

The above is an over-simplification of the SS Fund. Money collected for SS goes to the SS Administration, which uses the proceeds to pay out current claims, then looks to put the surplus funds into some place to save it for future use. The safest place to invest such money turns out to be U.S. Treasury bonds - thus, the SS Administration goes to the bond market, and buys US Treasury bond. These bonds are a U.S. Government "I.O.U." to the holder, to pay them back their principle, plus X amount of interest, 30 years (usually) in the future.

Thus, the funds' AREN'T co-mingled, or "raided", or otherwise. Rather, the SS Administration is the largest creditor of the U.S. government; the impact of this is that Congress has become lazy, being seduced by the easy availability of credit (as they can count on the SS Administration to buy any U.S. Treasury bond that Congress has them float to pay for projects). The concern is that the normal U.S. budget (which does NOT include the SS fund) has failed to account for the fact that the SS Administration is lowering its purchase of bonds (as the yearly expenditures of the SS go up while SS revenue goes down, due to demographic changes), and that the SS Administration will shortly begin to actually cash in bonds (i.e. expecting money back). The normal U.S. budget hasn't taken into consideration that the SS Administration won't be a huge creditor anymore, and, in fact, will begin to "pull out" money from the U.S. government, rather than invest in it.

The above is complex, but, the reality is that the actual SS fund ISN'T directly being raided for anything. Rather, the normal U.S. budget process has become addicted to the easy credit that the SS fund has provided.

As a side note, the time period where the SS annual expenditures outweighs annual revenue is coming soon - likely sometime around 2023. However, the actual Fund itself still has significant savings at that point, and it will take about another 15 years before the fund is actually "broke" (i.e. has redeemed all the U.S. bonds it has, and still expenditures outweigh revenue).

User Avatar

Wiki User

โˆ™ 2011-11-01 23:59:24
This answer is:
User Avatar
User Avatar


Lvl 1
โˆ™ 2020-08-16 20:37:19
This is so wrong. Roosevelt created Social Security you fools.ย 
Study guides

What protections are guaranteed to the people by the First Amendment to the US Constitution

Who developed the law of comparative advantage

Who wrote The Wealth of Nations in 1776

Under what heading did the social programs of the 1930s come

See all cards
2 Reviews

Add your answer:

Earn +20 pts
Q: Did President Kennedy use Social Security assets to fund NASA?
Write your answer...
Still have questions?
magnify glass
Related questions

You have unclaimed property Will claiming it reduce your social security retirement check?

No. Social Security retirement (vs. SSI) is not based on income or assets.

How can you get on ssi?

Show the Social Security Administration that you have little or no income/assets and that you are either over age 65 or "permanently and totally" disabled as defined by Social Security regulations.

What is the vehicle amount you are allowed to have while on social security benefits?

Social Security benefits are not "means tested" - i.e., there is no limit to the amount of property or other assets you may own. Millionaires receive Social Security benefits. Are you referring instead to Supplemental Security Income?

What was Aid to blind 1935 social security act and how did it work?

The Social Security Act of 1935 provided for Aid to the Blind, among other programs. It was for persons with little or no income/assets who were "legally blind" (i.e., as defined in Social Security regulations). It was largely replaced by Supplemental Security Income in 1974,

Can you own two homes and collect social security?

Social Security guidelines varies by state. Usually it depends on your income and your ability to work, not by your assets, you'd need to talk to a case worker from Social Security office in your state, or Google your states eligibility guidelines for qualification.

How will the bailout affect Social Security?

No effect at present. Social security trust funds are not being used in the bailout. Of course, there is an ongoing concern that the funds in social security are insufficient to meet future demands. It would be difficult to be more precise than this, because the government will be buying "troubled assets" that may have value in the future.

What documents are needed to file for Medicaid?

You need proof of: age (either under 18 or over 65) OR proof of disability (as defined by Social Security - receipt of Social Security disability and/or SSI meets this requirement); residence; income and assets; citizenship.

What is SSI under the Social Security Administration?

SSI is Supplemental Security Income, a means-tested form of welfare available only to disabled people and seniors 65 and older whose income and assets fall below a certain poverty threshold. SSI is administered by the Social Security Administration.

What is the security triple?

Threats, Assets, and Vulnerabilities.

Does owning a home affect social security disability payments?

No. Social Security Disability payments are not based on assets, but on income. Owning a house may affect SSI (Supplemental Security Income) payments, especially if the house is particularly large, valuable, or the individual owns more than one house.

Can you get Medicaid with no kids?

Yes, if you are a citizen with little or no income/assets and you are at least 65, or not yet 18, or permanently and totally disabled as defined by Social Security regulations.

What Risk is determined from the analysis of available safeguards for IS assets security requirements threats and?

What Risk is determined from the analysis of available safeguards for IS assets security requirements threats and?

People also asked