Stopping a myth.
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Begin forwarded message:
From: “Michael Phelan, Social Security Works” <email@example.com>
Date: June 18, 2019 at 2:42:24 PM EDT
Subject:VIDEO: Congress did not take money from Social Security
|Tom,CBS’ Washington DC affiliate must read the comments on our social media, because they just published a fact check video we helped with, rebutting one of the most pernicious myths about Social Security. We’re going to share the video, but first we’re going to share the conclusion:No, Congress didn’t take money from Social Security“That’s a myth,” Alex Lawson, executive director at Social Security Works, said of the claim that Congress has spent Social Security’s trust fund. “By law, the funds that are contributed to Social Security can only be used for benefits and to administer the program.”From the video:Every year, excess money is held in the “Social Security Trust Fund” which get invested into Treasury bonds and securities that make a lot of interest.In the FY2018 those investments racked up $3 billion alone, adding to a total of $2.895 trillion currently in the fund.So any money taken in from Social Security isn’t being divvied up among Congress, that money is being invested in the most secure way–with U.S. bonds.Watch the video now!Social Security Works is dedicated to pushing back against the destructive myths from right-wing activists who have spent nearly a century trying to destroy our Social Security system.Chip in $5 to help us keep up the fight.Thank you,Michael Phelan|
Social Security Works