...Old Age, Survivors', and Disability Insurance OASI Old Age and Survivors' Insurance Page 26 27 28 30 APPENDIX I APPENDIX I LEGALITY OF SECRETARY OF THE...Social Security Trust Funds in the sense that the terra is normally used in the private sector. That is, there is no body of assets, derived from social...

...now quote: For the reasons indicated below, we conclude that, although some of the Secretary's action appear in retrospect to have been in violation of...extraordinary situation in which he was operating. Later, the report discusses what some of those extraordinary circumstances were; and I think it is...

...the Secretary's actions were "in violation of the Social Security Act," but that "we cannot say that the Secretary acted unreasonably given the extraordinary situation in which he was operating." More interesting, the CRS report on Social Security disinvestment speaks to the fiduciary responsibility...

...actions were "in violation of the Social Security Act." But then it went on to say: "We cannot say that the Secretary acted unreasonably, given the extraordinary situation in which he was operating.' He found himself with the choice of cashing in Social Security trust funds or letting the US Government...

...concluded: that, although some of the Secretary's actions appear in retrospect to have been in violation of the Social Security Act, we cannot say the Secretary...extraordinary situation in which he was operating. Trust Funds 1 US Government has established about 165 trust funds, the largest of which are for Social...

...retrospect to have been in violation of the requirements of the Social Security Act, we cannot say that the Secretary acted unreasonably given the extraordinary situation in which he was operating.s0 Given the uncertainty with regard to how much disinvestment of Social Security and the...