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Essay / Research Paper Abstract
A 3 page paper that explains the Social Security Trust had sufficient funds prior to the government borrowing those funds. The writer reports the national debt and the budget deficit and explains it is not the fault of Social Security. The writer makes two recommendations. Bibliography lists 5 sources.
Page Count:
3 pages (~225 words per page)
File: ME12_PGsoscdb.rtf
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Unformatted sample text from the term paper:
below. Citation styles constantly change, and these examples may not contain the most recent updates.?? SOCIAL SECURITY AND THE NATIONAL DEBT Research compiled for The Paper
Store, , July 2010 properly! Over the last two decades there has been a great
deal said and written about social security. The scare is that the social security administration is going to run out of money because there are fewer workers contributing to the
fund than there are retirees receiving pension benefits. The fact is that the social security fund had and has plenty of money. The Social Security Fund and some other
government trust funds had surpluses. The U.S. Treasury was short of funds and simply borrowed a huge amount from Social Security and other trust funds, leaving them depleted. It is
these data that scaremongers use when they argue that Social Security is out of money. A reasonable person would think that the Social Security Trust would invest these extra dollars
in some sort of safe investment so that they would grow. The amount the U.S. Treasury has borrowed from Social Security needs to be paid back. We are at
the beginning of the retirement years for Baby Boomers, a very large generation. But, how can the U.S. government pay back these funds when the country has a debt in
excess of $13 trillion? They have not only spent what they have borrowed, they have spent more. One alternative is to raise income taxes, something other countries have done. The
U.S. carries the largest debt of any country in the world. China and Japan are two of the countries the U.S. owes the most to (Amadeo, 2010). Today, U.S. debt
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