Sen Pete Sessions said, "Our nation's Social Security Trust Fund is depleting at an alarming rate."
That is a FALSE statement...
Social Security is collected from those making less than $109,000............Every dime OVER $109,000 does not have anything pulled out of it for Social Security nor does it collect any Medicare $$$ after $109,000.
The money collected used to pay the Social Security payments for this year. The money left over..... YES, there is money left over, is put in a BOND and held for years when the funds fall short.
The trust fund is not depleting unless he is talking about the times the federal government BORROWED $$$$ from the bonds.
House Republicans propose Social Security opt-out - The Hill's Floor Action
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