Last Update 12/23/2004

Facts about the Social Security Trust Fund

When Congress, tired of the criticism that the Social Security Trust Fund was only a myth, they made sure the fund really did exist.   You'll find the entire $1.5 TRILLION Trust Fund in a one-story brick building in Parkersburg, West Virginia, the site of the office of Public Debt Accounting. It's in Room 309- 1, Division of Special Investments inside a yellow, fireproof, five-drawer filing cabinet.

Why isn't there better security for the $1.5 TRILLION Trust Fund?  Because there's no money in it. Just non-negotiable paper notes - little more than government's IOUs to itself.

Where's the money? Congress has spent every penny on things like congressional pay raises.  All that remains are non-negotiable paper notes that have no more value than the piece of paper you're now holding.  But every month, a dedicated government employee makes an accounting entry showing how much money was collected from employers and worker's paychecks as Social Security (FICA) taxes.

And each month, the surplus of what's spent on Social Security benefits and what's collected in Social Security taxes is transferred to the government's general fund. The amount is properly recorded and then, the government employee prints out a piece of paper that reads: "The United States of America For Value Received and Promised to Pay to The Federal Old-Age and Survivors Insurance Fund”.  On the bottom it reads, in boldface, “II Non-transferable".

The bond, really nothing more than a government IOU is then taken to the 535 pound filing-cabinet safe, put into brown file folders and locked away.

This is how Congress attempts to reassure you that there is indeed a Social Security Trust Fund. But when the money is needed to pay benefits, where will it be found? No one knows.

Don't put up with this shell game any longer. Help us pass legislation that requires Congress to save money in the Trust Fund, not spend it. Sign your enclosed letter to your U.S. Representative and become a member of the Christian Seniors Association today.  To speed up your reply, please use the enclosed pre-addressed envelope. 

Christian Seniors Association A division of Traditional values Coalition P.O. Box 1882 .Merrifield, VA 22116-8082