Bush is Such a Liar

Bush is such a liar:

“One of the myths of Social Security is that your money is going into it and the government is holding it and saving it for you. That's not the way it works. Your money is going into the system and it's getting spent -- some of it on retirement benefits, other parts on just general government. And there's an IOU, a paper IOU accumulating. But it's not just sitting there. There's not an account with your name that's saying, on behalf of you, the government has now got your money. That's not the way it works. So it's a pay-as-you-go. It goes in and goes out.”

First of all, I don’t know anyone who thinks that Social Security saves ones own contribution in an account with their name on it.

Second, the Social Security Trust Fund was created to save part of the money until it was needed due to the baby boomer population bulge.

Third – on this Bush tells the truth – the Trust Fund has been used for other purposes. That should never have happened.

Fourth – Bush, and his buddies who misappropriated the Trust Fund, now want us to think that the system is “pay as you go” and “in crisis” so they won’t have to pay back what they stole. He says it himself, there are IOUs accumulating. Now is the time to call in those IOUs not overhaul the system.

Do we respond to a bank robbery by remodeling the bank building and lowering the interest rate on savings?