Tuesday, July 19, 2011

Which one is a liar?

Is it Harry Reid or our current President?

When asked earlier about our social security fund Harry stated that there is not a shortfall because it is fully funded.

The President told CBS last that if the debt ceiling wasn't raised, he couldn't guarantee that Social Security payments would hit the mailboxes of the elderly.

Well Democrats which one is correct? If the Social Security Trust is fully funded than how can it be that our President will not guarantee these checks?

1 comment:

Baxter said...

Because it is "fully funded" with IOUs from the Treasury that will soon be without cash.

President Clinton gave a State of the Union address in 1998 with the topic "Save Social Security First," wherein he proposed that the Social Security surplus funds (hundreds of billions annually) be invested in actual assets - US stocks and bonds. The GOP opposed the plan, on the basis that government might throw it's weight around as a large shareholder or bondholder. Brilliant! So, we have IOUs instead of actual assets. Thanks again, GOP!