When the Social Security System Enters Its Deficit Years and the Bonds

question 185

Multiple Choice

When the Social Security system enters its deficit years and the bonds held in the trust funds are drawn down,

• A) overall taxes will be reduced as the trust funds are used to pay benefits to retirees.
• B) the payroll taxes used to finance Social Security benefits can be reduced because the trust funds will be sufficient to pay the retirement benefits of the baby boom generation.
• C) income and other federal taxes will have to be raised (or additional funds will have to be borrowed) in order to redeem the bonds held by the trust fund.
• D) income taxes will have to be reduced in order to keep the revenues and expenditures of the Social Security system in balance.

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Definitions:

Pharmacist

A healthcare professional who is trained to prepare and dispense medications prescribed by doctors and other health practitioners.

Nursing Assistant

A healthcare professional who provides basic care and assistance with daily living activities to patients or residents in healthcare facilities.

Medical Assistant

A healthcare professional who supports medical practitioners by performing administrative and clinical tasks.

Emergency Medical Technician

A trained healthcare professional equipped to provide emergency medical services and care, often at the scene of an accident or in an ambulance.