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Article: SOCIAL SECURITY TRUST FUND RESTS ON HOLLOW PROMISES.(Editorial)(Editorial)
- Article from:
- Daily News (Los Angeles, CA)
- Article date:
- June 17, 1997
CopyrightCOPYRIGHT 1997 Daily News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Gary M. Galles
Whenever the impending future bankruptcy of Social Security generates substantial media attention, the Social Security Administration reassures people that any problems are far off.
Perhaps their biggest ``proof'' is that the Social Security Trust Fund, now at about $600 billion and growing by about $50 billion a year, is expected to last until 2029 under current law. With funding assured for more than 30 years, surely there is no need for concern.
Unfortunately, however, the Social Security Trust Fund is a fraud. There is, in fact, no fund or resources set aside for Social Security beneficiaries. As a result, a positive ...