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The very concept of a Social Security Trust Fund is not so much a myth as it is a lie. For decades, Congress has raided the Trust Fund to pay for other government programs and used accounting gimmicks to hide the true size of the deficit.
Even at the end of the Clinton Administration, when the federal government was supposedly running a surplus, the national debt went up every single year. The surpluses were as imaginary as the Trust Funds.
So insatiable is Washington’s appetite to spend that the federal government has not only spent all the money it has, but all the money previous generations were thought to have saved, and now we’re working our way through the money future generations hope to earn.