IOUs can’t save Social Security

posted by
September 7, 2011
Boston Globe
by Jeff Jacoby  
Posted in Commentary, PND Commentary

"My mother's mother revered Franklin Roosevelt. She voted for him four times, and firmly defended him decades later, when I tried to convince her that FDR was not the haloed saint she imagined. 'It’s because of Roosevelt that I’m getting $800 in Social Security every month,' she’d tell me. Actually, I’d reply, it was because of people like me .... In reality there is no money in Social Security’s trust fund and never has been. It is merely an accounting fiction, like the individual Social Security accounts to which workers’ payroll taxes are credited." [editor's note; We already know all this; pass it along to those you know who should! - SAT] (09/07/11)  

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