Since the late 1980s, the Social Security system has collected more payroll taxes than it paid out in benefits.The excess funds have been

Question

Quizplus · Accepted Answer

The excess funds collected by the Social Security system have been loaned to the federal government to pay for general spending. This is because the Social Security Trust Fund is invested in U.S. Treasury securities, which are essentially IOUs from the federal government. The government then uses the funds for general spending, and promises to pay back the money with interest when it is needed to pay future Social Security benefits.

Since the Late 1980s, the Social Security System Has Collected