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

Answer 1

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.

Answer 2

The president does not borrow money from the SS fund. The entire SS fund is "invested" in special government bonds. The government spends it all and adds interest to the fund. Right now, the fund takes in more than it pays out, but when the baby-boomers retire, this will not be true and generally tax money will have to go to SS.

Answer 3

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.

Answer 4

Congress authorized the spending about $98,700,000,000 that was borrowed from the Old Age and Survivors' Trust Fund during the 8 years of the Bush administration.

Answer 5

What happened to the 2 trillion spent during the Johnson administration?