Saving the Surplus to Save Social Security

Brief

Saving the Surplus to Save Social Security

What Does It Mean?

Abstract

It is not easy to penetrate the many myths surrounding the Social Security debate. The proposal to put the Social Security trust fund's surplus in a "safe-deposit box" is highly popular politically and passed the U.S. House of Representatives with 416 votes in favor and 12 against. It is unlikely that many voters know what the proposal means. Luckily, the legislation that creates a "lock box" for Social Security does not actually put the trust fund surplus in a safe-deposit box. Instead, it attempts to use the funds for the worthy cause of repaying the national debt.

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