The fraud of the Social Security trust fund exposed by a most unlikely source

posted by
July 17, 2011
Cafe Hayek
by Don Boudreaux  
Posted in Commentary

"Ignoring the question of whether or not failure to raise Uncle Sam’s current statutorily set debt ceiling will oblige him to default on paying creditors (or, what is a different thing, to reduce his spending), clearly and unquestionably fraudulent (or inexcusably reckless) are the many claims made over the years that the bonds in the Social Security ‘trust fund’ are real wealth held by the Social Security Administration, thus protecting it and its beneficiaries from any fiscal problems that might beset Uncle Sam." (07/16/11)  

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