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Poor and Stupid

How big government, big business, big media and big academia block your road to financial freedom- and tell you it's for your own good.

A Howler From Hillary On Social Security

Posted on 09/06/2007 19:11:15 | Link | Post Comment
Hillary Clinton is proving to be as much a liar as her husband. In a Washington speech to retired persons she said yesterday,
When my husband left office, we had a secure Social Security system until 2055, and then, all of a sudden, the Bush Administration took us back into deficits.
Sharp folks at NBC -- yes, NBC! -- note,
Wait a second: Is that right? A 2001 Social Security Board of Trustees report said the program would remain solvent until 2038, not 2055.
And what do the Bush-era federal budget deficits have to do with it anyway?

A friend who is very knowledgeable about Social Security, and no Clinton supporter, tries to throw Hillary a lifeline of sorts on this one, but it doesn't reach:

Could she be referring to President Clinton's proposal to create a sort of artificial extended solvency, inflating the Trust Fund through the issuance of bonds from the general fund? It never went beyond the proposal stage, as the GAO Comptroller General declared (rightly) that "It does not represent a Social Security reform plan" and any such an illusory fix would be "more perceived than real..."
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