C
Cut-Throat
Guest
In Bush's attempt to derail Social Security, He actually demonstrated to the World today that you cannot trust U.S. Securities.
The Money Bush is spending is currently being financed by the same methods that he was ridiculing. We are already suffering because of the falling of the dollar and he just made it worse.
Does this guy understand that his spending programs are hurting the financial health of this country faster than any deficiet of Social Security?
The Money Bush is spending is currently being financed by the same methods that he was ridiculing. We are already suffering because of the falling of the dollar and he just made it worse.
Does this guy understand that his spending programs are hurting the financial health of this country faster than any deficiet of Social Security?
Quoting the article:
"A lot of people in America think there is a trust -- that we take your money in payroll taxes and then we hold it for you and then when you retire, we give it back to you," Bush said in a speech at the University of West Virginia at Parkersburg.
"But that's not the way it works," Bush said. "There is no trust `fund' -- just IOUs that I saw firsthand," Bush said.
Earlier, Susan Chapman of the Office of Public Debt Accounting had shown Bush an ivory four-drawer filing cabinet with numeric locks. "This is it," she said.
"This is what exists," Bush said, illustrating his point that the promise of future Social Security benefits are simply stashed in a file.
Chapman opened the second drawer and pulled out a white notebook filled with pseudo Treasury securities -- pieces of paper that offer physical evidence of $1.7 trillion in treasury bonds that make up the trust fund.