Includes "... The argument that Social Security holds worthless IOUs took another hit in 2015. According to the recent announcement by the Congressional Budget Office (CBO), the government started to repay not only the interest but also the principal due on securities held by the program's Trust Fund. The argument started to falter five years ago when payroll taxes stopped covering the annual expense of benefits. Since 2010, the system has used the interest earned by the Trust Fund to pay scheduled benefits. Without the Trust Fund, benefits would have been reduced 5 years ago, so it is more than an accounting gimmick..."
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