The State as Financial Intermediary - Social Security Trust Fund

[Joe Leote]

Is the US running out of social security?

https://youtu.be/j1Bfxxhdn6g

No. See page 3 of this reference The State as Financial Intermediary (4 pages):

the_state_as_financial_intermediary.pdf (bu.edu)

The social security trust fund is an accounting contrivance made up by Congress to rationalize the fact that more money was taken from working people than distributed to beneficiaries in the past. This makes it look like a private pension system with contributions, investments, and distributions, but the social security is just a pay as you go system backed by the operations of the federal government and its effort to help industry and society manage the strong national economy.

Joe