Reality Check
- Date: Mon, 10 May 1999 13:21:54 -0400 (EDT)
- From: Don Hutchison <don@cboss.com>
- Subject: Reality Check
REALITY CHECK: - All $ anyone has ever paid into SS went to expenses, current
retirees or the general fund. (The cash cow for Congress.) The trust fund
(SSTF) gets bonds from Treasury, compounding your debt to the government.
Every $ in anyones retirement check came from current workers. ZIP from
anything you paid in your lifetime of work. This is not a capitalist
system. The result in 1999 is your SSTF debt to Gov't of nearly $1 trillion.
Gov't charts expect your debt to be near $3 trillion in about 15 more
years. Skyrocketing at a geometric rate. I say that SS is a bad deal. James
says it is the most safe investment in the world. I say, James, prove it.
Henry "Hank" Aaron, Brookings Institution, is one of the leading expert
proponents of SS. Even he, last year on C-Span, admitted that our return
on our SS money is minus one hundred percent. For those of you in Washington,