Disinvestment of the Social Security Trust Funds to Finance the Public Debt

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U.S. Government Printing Office, 1985 - 68 lappuses

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44. lappuse - It shall be the duty of the Managing Trustee to invest such portion of the Trust Funds as is not, in his judgment, required to meet current withdrawals. Such investments may be made only in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States. For such purpose such obligations may be acquired (1) on original issue at...
42. lappuse - In determining pursuant to section 5(k) (2) for any fiscal year the total amount to be credited from the Railroad Retirement Account to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund...
31. lappuse - SSA, before the Subcommittee on Social Security of the House Ways and Means Committee.
39. lappuse - General in cooperation with the Secretary of the Treasury ; the Director, Office of Management and Budget ; and the Director of the Congressional Budget Office.
29. lappuse - Medicare trust funds are invested by the Secretary of the Treasury solely in US government obligations, except for a relatively small cash working balance. The securities can be any of three types — obligations bought on the open market, obligations bought at issue (as part of a new issue offered to the public), and special issues. In the actual operations in the past, the vast majority of investments have been in special issues.
29. lappuse - ... special issues. The law provides that the special issues shall bear an interest rate equal to the average market yield rate on all US government obligations with at least four years to go until earliest maturity (as of the issuance date of the special issue), rounded to the nearest Vs percent.
42. lappuse - For the reasons indicated below, we conclude that, although some of the Secretary's actions appear in retrospect to have been in violation of the requirements of the Social Security Act, we cannot say the Secretary acted unreasonably given the extraordinary situation in which he was operating.
29. lappuse - Vs percent. There is no specific provision as to the period until maturity for the special issues, but in practice it is attempted to have them in a maturity schedule spread equally over a period of 15...
47. lappuse - ... amounts and for periods of time greater than absolutely necessary to pay social security benefits. However, this is a judgment reached only with the benefit of hindsight. The Secretary was required to act in a complex and fluid situation, without the benefit of all...

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