Tag: Treasury debt

Social Security Card: Senior woman holding card in hand on white background

Are the Social Security Trust Funds Meaningful?

Issue Brief by Alicia H. Munnell

May 1, 2005

Introduction Social Security traditionally has operated on a pay-as-you-go basis — that is, current taxes pay for current benefits. The 1977 and 1983 Amendments to the Social Security Act provided for a temporary departure from this approach — with the buildup of a significant trust fund. Currently the Social Security trust funds hold $1.7 trillion…

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