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In other words, the casn mown' which employers and employees pay into the funds does not rest in a Treasury vault until needed to pay benefits, it is loaned to the Treasury and used for the day-today expenses of the Federal Government. As evidence of the loan, the fund holds Treasury bonds and notes, and the Treasury pays interest on these. ( )ur taxes, of course, proride the money with which to par the interest, just as when the Treasury borrows on the open market.
The trustees’ report shows that this interest received by the trust funds in relati' ?'v low.most of the investments are IVz or 2 5/S per cent. At the end of the past fiscal year, the main social securitly fund had $20.5 billion invested and about $1 billion in its “bank balance” at the Treasury. The disability fund had $1.6 billion invested and about $60 million in its
56.6%