Home 2018-05-23T13:01:26+00:00

No, No One is Stealing from Social Security

(CNN)There are many myths about Social Security: It’s going bankrupt. It’s a Ponzi scheme. It won’t be there for today’s young people when they retire. There’s no truth in any of them. But one of the most prevalent myths these days is that the federal government is stealing from Social Security. It goes something like this: The President and/or Congress have been raiding the Social Security Old Age and Survivor’s trust fund (also known as the retirement trust fund) to pay for other federal expenses (tanks, roads, bridges, food stamps, etc.) and have never paid it back. The myth, which persists today, goes back at least 50 years and is based on a fundamental misunderstanding of Social Security’s finances.

Banking Industry Wins; Working and Retired Americans Lose

The majority in the House of Representatives just betrayed working Americans by passing reckless banking legislation known as the Economic Growth, Regulatory Relief, and Consumer Protection Act (S 2155). The only accurate part of the title is “regulatory relief,” in that it rolls back crucial regulations on the banking industry enacted after the 2008 financial crisis.

North Baltimore Social Security Office Among a String of Locations Set to Close

The Social Security Administration office at the Rotunda in North Baltimore is scheduled to close next month, the latest in a recent string of field office closures decried by activists and lawmakers.



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