Washington has been borrowing Social Security’s surpluses for decades and issuing IOUs in return. However, the ability to pay those IOUs depends on the Treasury borrowing more money on global bond markets at affordable rates. That’s hardly a sure thing.
Continue reading Social Insecurity: Inside the ‘Trust Fund’ Illusion
Social Insecurity: Inside the ‘Trust Fund’ Illusion originally appeared on DailyFinance on Thu, 20 Jan 2011 12:00:00.
Filed Under: Retirement, Columns, Economy