The truth is that the Biden campaign lied, according to The Washington Post, which awarded the campaign its maximum rating for untruthfulness over a recent ad.
The ad puts a highly unfavorable spin on President Donald Trump’s executive order that created a payroll tax holiday.
The order did not end the payroll tax, which funds Social Security, but deferred it. Trump’s order was accompanied by comments from the president saying that he would like to see the tax eliminated in the future and that if re-elected, he would seek to make that happen.
The Biden ad claimed: “The chief actuary of the Social Security Administration just released an analysis of Trump’s planned cuts to Social Security. Under Trump’s plan, Social Security would become permanently depleted by the middle of calendar year 2023.
“If Trump gets his way, Social Security benefits will run out in just three years from now. Don’t let it happen. Joe Biden will protect Social Security.”
Well, not quite.
The senators wanted to know how long it would take for Social Security to run out of funds if no money flowed into its coffers.
“I am not aware that anyone has proposed the hypothetical legislation you describe,” Goss riposted in his reply.
He then said that if there was no new money flowing, the fund would run dry up in 2023.
However, Goss also said that if any new legislation used the U.S. Treasury’s General Fund instead of the payroll tax as the source of the funding to meet Social Security’s needs, which is what Trump proposed, “the projected depletion date of the trust fund reserves would be essentially unaffected by the legislation.”
Read the rest at: No real plan