Social Security Snowjob
by Duckman GR
The SPAN had Sec Snow on, just before Melanie Sloan from CREW discussing Jacko Abramoff and the Criminal GOP Posse, and his answer to the one caller question I saw was, shall we say, illuminating.
The caller asks, after reading the actual Social Security Act, and after a nice butter job of Mr Snow, asks for his comments on the fact that, per the Act, surpluses are to be paid out to recipients only, and that surpluses can be invested in the private sector.
Note to self, if true, why aren't they doing that, could it be too hard work?
Anyhoo, sez mr snow, The President, bless him, is bold and courageous, and we must fix Social Security because it needs reform and the President is a man of action! Oh, and Social Security is an unfunded obligation of the Federal Government!
But but but, what the hell are those Social Security taxes coming out of my paychecks then?
And what about the question? Well, either he just blew it off to spew his manly bush talking points, or he has no clue about anything substantive within his baliwick of the Treasury Department.
I vote for a 40/60 split.
Here's some links to the Social Security Act. There's a lot of info there but current law, it appears, require surpluses to be invested in SS Bonds only, although I haven't found the specifics of that as yet. I do need to work today, but that seems the consensus. And I added a link to C-SPAN, the SPAN, too.