G
Guns Guns Guns
Guest
Bachmann said “Social Security, like I told you, is out of money. This year it is borrowing from the general treasury.”
At the Social Security Administration, spokesman Mark Hinkle said that even if benefit spending exceeds available revenue from payroll taxes, the program can draw on interest from money it’s invested in securities in the general treasury.
Hinkle said: “We have all our trust fund dollars in special-issue treasury bonds that earn interest. We’re not borrowing from the treasury.”
http://www.politifact.com/texas/sta...nn-says-social-security-running-deficit-and-/
At the Social Security Administration, spokesman Mark Hinkle said that even if benefit spending exceeds available revenue from payroll taxes, the program can draw on interest from money it’s invested in securities in the general treasury.
Hinkle said: “We have all our trust fund dollars in special-issue treasury bonds that earn interest. We’re not borrowing from the treasury.”
http://www.politifact.com/texas/sta...nn-says-social-security-running-deficit-and-/