Monday, May 21, 2018
CNN explains: no, the federal government is not "stealing" from Social Security
Max Richtman on CNN has an important article, “No one is stealing from Social Security”.
This op-ed addresses conservative claims that the federal government raids Social Security for its profligate social benefits spending.
No, Social Security buys treasury bills like any other investor, and by law the treasury has to pay interest on these and redeem them when mature.
This analysis could be important should another debate on the debt ceiling erupt.
The article does not address the problem of paying benefits to dead people (previous article).