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The $2.5 Trillion of debt obligations held by the SS Trust Fund are most certainly part of the National Debt. The obligations are legally parri passu (equal under the law) with the debt held by the public.
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When was National Social Security Fund - Uganda - created?
National Social Security Fund - Uganda - was created in 1986.
Can social security disability benefits be garnished if you have a trust fund at the bank?
no
What president borrowed the most from Social Security Trust a Fund?
johnson
Will Republicans use funds from social security to fund the tax cut?
There is no evidence to suggest that Republicans intend to use funds from Social Security to fund the tax cut. Social Security operates on its own funding system through payroll taxes and has a separate trust fund specifically designated for it. Any changes to Social Security funding would require separate legislation.
What was the first year that congress took funds from the social security trust fund?
1987
What determines the dollar amount of a retired employee's monthly Social Security check?
The number of fiscal quarters the employee worked during his or her lifetime and the amount of money the employee contributed to the Social Security Trust Fund
Did President Clinton pay off the National Debt using the Social Security Fund?
Yes
Was President Lyndon B Johnson the first President to borrow money from the Social Security Bank?
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.
When collecting social security and still working they still take social security out of your pay where does the money go?
To the same place that it was going before you started receiving your SSB. To the trust fund.
Do Employers and employees both have to contribute equal amounts o money into the Social Security Trust Fund?
Yes that is correct.
How much money has been taken from social security and put into the general fund?
The Social Security Trust Fund was established in 1939 to receive monies collected for Social Security through payroll taxes. The monies in this fund are managed by the Department of the Treasury; they are not, nor have they ever been, put into the "general operating fund."However, the Social Security Act specifies that the monies in the fund may "be invested in securities backed by the full faith and credit of the Federal government," such as treasury bills, treasury notes, and treasury bonds, as well as special issue bonds. So, essentially, the government can "invest" Social Security funds by lending them to itself, then spending that money on programs not related to Social Security (e.g., defense, foreign aid, education). This has always been the case.During the Johnson administration, Social Security and other Federal programs that operate through trust funds were counted officially in the budget. This did not mean that it was actually part of the general fund, rather that it was finally recorded as part of the budget.
What is required by law for each individual social security account?
employers and employees both have to contribute equal amounts of money into the Social Security Trust Fund
