Thursday, February 10, 2005
BUSH GETS IT WRONG It's not the first time the President has mislead the nation about Social Security--far from it. But he's rarely been this brazen about it. Josh Marshall has the details:
"The money -- payroll taxes going into the Social Security are spent. They're spent on benefits and they're spent on government programs. There is no trust."
--President George W. Bush, February 9, 2005
"The [Social Security trust fund] monies available have generally been invested appropriately in Government obligations at interest rates which are equitable to both the trust funds and the General Fund of the Treasury and have not -- as is sometimes alleged -- been spent for other purposes outside of the Social Security program."
--Commission on Social Security Reform report, January 1983