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Social Security Administration: Money
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* When the Social Security program loans money to the U.S. government, the government can use this money to pay off debt that it owes to non-federal entities. This leaves the national debt unchanged because the U.S. government needs to pay back this money to the Social Security program. Some politicians have referred to this action as, "Putting Social Security into a lockbox." [125]
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In an interview, the commissioner of Social Security, Michael J. Astrue, said that outright fraud was rare, but that many cases on appeal were borderline. In addition, there was tighter scrutiny following widely publicized charges in the 1970s that money had been wasted on recipients whose conditions improved.
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Bush looted every penny of the $509 billion in Social Security surplus generated during his first term, in violation of both his promise and federal law. The president continues to spend more than $400 million of Social Security money each and every day, bleeding the system dry as he publicly says he wants to strengthen Social Security. If Bush wanted to strengthen Social Security he would have abided by the law and his promise, and Social Security would be more than half a trillion dollars stronger than it is today.
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* When the Social Security program collects more in taxes than it spends, it generates surplus money. By law, the only thing that the Social Security program can do with surplus money is to loan it to the U.S. government. [115] [116]
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[One] idea is to be able to invest a portion of your Social Security money into government secured bonds or in low-risk mutual funds such as money market mutual funds. This may be a good way to get the ball rolling and overcome resistance from the public and lawmakers as well.
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A Representative Payee is an individual or organization that receives Social Security and/or SSI payments for someone who cannot manage or direct the management of his/her money. Payees should use the funds for the current and foreseeable needs of the beneficiary and save any remaining funds for the beneficiary's future use.
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