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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.


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.


Who was the second president to borrow money from social security?

clinton


Did al gore vote to tax social security?

Al Gore did not vote to tax Social Security benefits during his time in Congress. The taxation of Social Security benefits was established by the 1983 amendments to the Social Security Act, which he supported. However, the specific legislation regarding the taxation of Social Security was a broader policy decision made by Congress, not solely attributable to any single vote by Gore.


When did you first borrow against social security?

I never borrowed against Social Security, so I'd say the answer is "Never."


During what historic time did the united States Congress pass the social security act?

the great depression


How much money did George W. Bush borrow from SS?

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.


Who decided that there would be no COLA for social security?

Congress


What wasn't an idea of president Truman that were rejected by congress?

Social Security Improvement


Explanation of article 9 section 3?

Congress has the power to appropriate public funds, borrow money on the public credit, and to promote education and health. NOTE: "to promote education and health" was later amended to read "to establish systems of social security and welfare"


What was the first year that congress took funds from the social security trust fund?

1987


Should congress privatize social security?

This is a question that's answer is soley based on opinion.