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11 often is asked :
“Why can’t benefits be raised ? We understand there are umpteen billion dollars in the fund; why shouldn't the people who have contributed get this money?"
On the other hand, there are flurries of excitement from time to rime when someone insists that a federal trust fund is broke, or going broke ^.that it contains only I.O.U.'s.
Let us start at the beginning, with an excerpt from this year’s •uport o? the Hoard of Trustees of the social security funds:
‘‘The federal old-age and sur\ivors insurance trust fund was established on January 1, 1940, a«^ a separate account in the U.S. Treasury to hold the amounts accumulated under the old-age and survivors insurance program. All
53.3%