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What was the first time social security was raided by congress and the President and who was the President?
Wiki User
∙ 11y ago
Reagan
Wiki User
∙ 11y ago
Wiki User
∙ 11y ago1964 - lbj
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What wasn't an idea of president Truman that were rejected by congress?
Social Security Improvement
Which president raided social security?
No president can raid the social security fund. The President has no control over the social security fund . Only Congress can put money in or take money away from social security. No money has ever been actually set aside for social security. Money collected for social security has always been spent as quickly as it comes in. A record is kept and the fund is credited with the amounts taken in and debited for money paid out . They even add interest to the balance of fund, but no real money.
Did George W. Bush borrow from social security?
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.
Did George W. Bush borrow social security?
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.
What is uncontrollable spending?
Spending that congress and the president have no power to change directly. Examples: Social Security, Medicare, etc.
Can a president be impeached for misleading or bullying or threatening to take away social security from the elderly and disabled people to get his way in congress?
no
Who decided that there would be no COLA for social security?
Congress
Is a Social security number required to be president?
Of the United States of America, Yes. You have to have a social security number to be a citizen and you have to be a citizen to be president.
Which was the first political party to tap into social security?
President Eisenhower was the first President to tap into Social Security, but he was the last President to pay it back.Most all Presidents since then have tapped into the Social Security. There is really no money in Social Security, it has been subsidized and paid for by today's income earners, due to the pilfering over the years of the fund.This fact is not a true referendum as to whether Social Security is a failure; it's our politicians that have failed us not the program, which has kept so many elderly out of poverty over the many years. I would consider that a big success.
In what year did Social Security Benefits and Unemployment benefits become taxable?
Social security benefits became taxable income in the year of 1984.
How much money has Obama taken out of the Social Security Fund?
First, this is a misleading assertion, based on a Republican talking point from Mitt Romney during the 2012 election: he accused President Obama of having "raided" the social security and medicare trust fund. (To be fair, the Obama campaign made similar accusations against Paul Ryan.) The figure of $716 billion was often cited as the amount the president had taken to "pay for a massive expansion of government," as Mr. Romney's adviser Ed Gillespie told the New York Times. But the non-partisan Center for Economic Policy Research reported that Mr. Gillespie's facts were incorrect. "President Obama did not "raid" the Medicare trust fund... The trust fund holds U.S. government bonds that correspond to the surplus it has accumulated over the years. President Obama did not default on these bonds, which means that he has not pulled any money out of the Medicare system." Further, other economists and newspaper reporters noted that both parties often accuse each other of such shenanigans; but the reality is that no social security money had been borrowed or stolen, no matter which party was in power. CBS/ Moneywatch agreed, noting that neither congress nor the president had raided anything. I enclose a link to the article, about how the social security trust fund money is actually spent, and how nobody "raided" it.
Did congress borrow from social security during World War 2?
NO
