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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.
Wiki User
∙ 11y ago
Anonymous
Wiki User
∙ 12y agoThe first President to steal from the SS Fund was LBJ with the aid of the democrat Congress, he removed the trust fund and placed the monies in the general fund. Jimmy Carter then allowed immigrants , who had not contributed, to collect benefits from SS. Finally, Bill Clinton taxed SS benefits. But the democrats continue to blame the Republicans for destroying SS. Go figure!
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What was the first time social security was raided by congress and the President and who was the President?
Reagan
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.
What president proposed the social security act?
FDR
What law signed by President Roosevelt was influenced by the Townsend Plan?
he responded to it by supporting the social security act
Who was the second president to borrow money from social security?
clinton
Who enacted social security?
President Franklin D. Roosevelt signed the Social Security Act into law on August 14, 1935. This legislation established the Social Security program in the United States.
Why is social security imported today?
Social Security is important today because it prevents the applications in which the President can take from a Credit Card Holder. A Social Security holds one's identity and cannot be replaced.
What president borrowed the most from Social Security Trust a Fund?
johnson
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.
What wasn't an idea of president Truman that were rejected by congress?
Social Security Improvement
What president balanced the budget without using Social Security funds?
Truman
What law signed by president roosevelt was influenced by the townsend?
The Social Security Act
