Congress raided the Social Security trust fund
| Congress raided the Social Security trust fund | |
|---|---|
| MISLEADING | |
| "Politicians stole or spent the money in the Social Security trust fund on other things, leaving only IOUs." | |
| Domain | Economy & Labor |
| Tactic | False Context |
| Era | Historical |
| First seen | 1980s |
| Origin | Political rhetoric and chain emails, sometimes blaming specific presidents |
| Last reviewed | 2026-10-29 |
| Further reading: books on Economy & Labor | |
The claim that Congress raided the Social Security trust fund misdescribes how the fund works. By law, Social Security's surpluses are invested in special-issue US Treasury securities, which earn interest and are backed by the full faith and credit of the United States. The government uses the cash it borrows, as with any Treasury bond, and repays it with interest when the bonds are redeemed.
The claim
Versions say that a particular president or Congress took money from the fund to pay for other programs, leaving it "empty."
What the evidence shows
- Required by law. The Social Security Act has required surplus funds to be invested in government securities since the program's early years.
- Real assets. The securities have always been redeemed and interest paid.
- Real question. Redeeming the bonds requires the government to raise taxes, cut other spending or borrow from the public, which is a legitimate budget issue.
Sources
- Social Security Administration, Office of the Chief Actuary, "Trust Fund FAQs."
- Snopes, "Social Security Raided."