October 14, 2004
Kerry not being straight about Social Security, Bush has a plan
Anyone familiar with Social security actuarial tables knows there is an unfunded deficit of trillions of dollars. The "lockbox" is fiction; just government IOUs to itself, payable by future taxpayers. No actual assets back up these promises.
John Kerry says he will not raise the retirement age, cut benefits or privatize. That leaves two options; massive, jobs-destroying tax increases or complete collapse of the system.
Posted by Tom Troceen