Has Money Been Borrowed From Social Security. Social security is not a debt burden on the federal budget. In 1983, the greenspan commission came up with a plan to save money to provide for the retirement of.
Technically the government owes the social security fund an estimated $2.9 trillion, money that has been used and not repaid to the fund. The fact is that congress, despite borrowing $2.9 trillion from social security, hasn't pilfered or misappropriated a. $2.85 trillion was raided from the social security trust fund.
The amount of money the federal government has borrowed from the social security trust fund, the medicare trust fund and other government agencies just crossed the $5 trillion mark.
In 1983, the greenspan commission came up with a plan to save money to provide for the retirement of. In other words, they don't believe the money is there. In 2014, the social security administration (ssa) took in $786 billion through the federal insurance contributions act tax… $73 billion short of the $859 billion needed to pay claims. Us government has borrowed trillions from social security trust fund remember the debt ceiling situation in the summer of 2011?
