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Federal gov't to withdraw funds from your retirement account
The linked article is sooo wrong. First, social security is NOT your personal account. Never has been a personal account, that is your IRA.
The money was never saved, and no one ever said it would be saved. The money you have put in with payroll taxes has already been spent on current social security recipients.
Second, the Social Security "Trust Fund" can only invest in one thing, special bonds from the Treasury that cannot be sold to anyone other than the treasury. So when those bonds have to be redeemed, the treasury has to pay for them via the Federal government with increased taxes, decreased spending or increased borrowing.
