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Social Security Trust fundNewsweek
•Business
Business & Economics
84% Informative
BlackRock CEO Larry Fink proposes integration of private investment accounts to enhance retirement savings.
Fink: "We have a plan called Social Security that doesn't grow with the economy" Past efforts to increase Social Security's market exposure have faced pushback from Democratic lawmakers, who have argued that such a move would amount to privatization of the public program.
The new administration has not commented on Fink 's proposal.
DOGE continues to explore ways of reforming a wide array of government-controlled programs.
Debate over Fink's proposal is likely to intensify in the coming months as lawmakers and the public weigh the potential risks and rewards of linking Social Security to private investments.
Fink: "Since 2010 , the system has already been spending more than it is receiving in payroll taxes, so there's no money in the system to invest".
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