NPR – Social Security “Trust Fund” is a lie

Posted: December 2, 2010 in Bernie Madow, debt, libertarian, security, tax

From NPR here.

Whether you favor cutting Social Security may depend on how you view the Social Security trust funds, which currently contain $2.5 trillion for retirement benefits. That’s $2.5 trillion that, according to some people, don’t actually exist.

“The policy choices that we have to make good on Social Security obligations are exactly the same with the trust fund or if we’d never had the trust fund,” MacGuineas says. “Raise taxes, cut Social Security benefits, cut other government spending, or borrow the money. That’s the only way to repay the money.”

See also Ponzi Scheme, Bernie Madoff, Guaranteed Retirement Proposal, and Enron .

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Comments
  1. NPR – Social Security “Trust Fund” is a lie « Politician, Tar ……

    Here at World Spinner we are debating the same thing……

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