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clinton
No president can borrow from social security or any other gocvernment agency. Social security is controlled by the US Congress. Congress has made a long-time practice of borrowing all the money collected from social security taxes ( FICA) and spending it in the general fund. The social security fund consists entirely of "IOUs "( bonds) from the US treasury.
No president can borrow from social security or any other gocvernment agency. Social security is controlled by the US Congress. Congress has made a long-time practice of borrowing all the money collected from social security taxes ( FICA) and spending it in the general fund. The social security fund consists entirely of "IOUs "( bonds) from the US treasury.
No, President Lyndon B. Johnson was not the first president to borrow money from the Social Security Trust Fund. Presidents before him, including Franklin D. Roosevelt and Harry S. Truman, had also borrowed from the trust fund to finance government expenditures. Borrowing from the Social Security Trust Fund has been a common practice by several presidents since its establishment in 1935.
I never borrowed against Social Security, so I'd say the answer is "Never."
NO
I recall a news or whatever interview with Ronald Reagan where the interviewer asked Reagan why, with all his wealth, he was receiving social security. He responded that he paid into it and was therefore qualified to receive it and so he was.
President Ronald Reagan did not directly borrow against Social Security. However, his administration did redirect some Social Security revenue to fund other government programs in order to address budget deficits. This approach was seen as a temporary measure to address short-term fiscal challenges and was intended to be repaid in the future.
Yes you can use the SSB amounts that you receive each month to pay your debts and any thing else that you want to pay.
George W. Bush raided and spent a total of $1.37 trillion of Social Security surplus during his eight years as president. In his last year, he spent $192.2 billion, which averages out to more than $526 million per day.
Franklin Roosevelt was the President when social security taxes were first collected. The money collected for social security was always spent as soon as it was collected. This was not a problem so long as the number of people paying in increased faster than the number of people collecting benefits.
this is from social studies.the best time for people to borrow money is when