Northwest Voices | Letters to the Editor
Lawmakers differ on how to address Social Security, long-term finances
The Treasury should repay Social Security
Stephen Ohlemacher’s article, “Fact check: Program adds to budget deficit,” [News, Aug. 13], states that the Social Security balance of $2.7 trillion with the Treasury will earn $110 billion in interest this year. This works out to about 4 percent interest on the borrowed money.
Two years ago, I bought a small amount of stock in major dividend-paying U.S. companies, and my dividends are over 6 percent based on my purchase price. This does not take into account that the stocks have increased in value by almost 40 percent.
The Treasury should repay the $2.7 trillion to Social Security and enable it to invest it in stocks or bonds that will pay higher interest than the Treasury, and provide the Social Security system with enough income to keep the system solvent for many, many years.
In hindsight, we should never have given Congress access to the Social Security surplus over the past 30 years. They just used it to finance spending and to paper over the annual deficits.
— Richard Partington, Bellevue