In response to yesterday’s post, Social Security Outlook Worsens. Again, a reader named Patricia comments:
The Social Security Trust Fund holds $2.5 trillion in government bonds. At the current interest rate of 4.5%, it receives around $112 billion in interest income annually.
$112 billion in annual interest – $29 billion in payouts this year = + $83 billion INCREASE in the SS Trust Fund this year. So, no, they will not be tapping the principal this year. Associated Press can’t do arithmetic. What is our country coming to?
I realize you may be ideologically opposed to Social Security, which is fine, but that is no reason to outright lie about it.