On the recordJune 30, 1999
what does the FICA man do with the FICA taxes taken out of a worker's paycheck? Most workers assume, as I used to, that the taxes collected from the worker's paycheck for Social Security and Medicare were actually spent on Social Security and Medicare. Well, it turns out that is not exactly the case. The FICA man has been engaging in some very funny business with our seniors' Social Security and Medicare money, and more and more seniors are learning the harsh truth about the way our Government is running the Social Security Trust Fund. The FICA man collects the money and uses it to fund all kinds of things, things which have nothing to do with Social Security or medicare. Republicans want to know what the FICA man is doing with all that money. We want to put an end to the practice of raiding the Social Security Trust Fund anytime Washington feels like it. "But wait," my Democrat colleagues will say, "Social Security was designed to operate like that." Exactly. And that is what we want to change.
Source
govinfo.gov




