“PARKERSBURG (AP) - The retirement nest egg of an entire generation is stashed away in this small town along the Ohio River: $2.5 trillion in IOUs from the federal government, payable to the Social Security Administration.
It’s time to start cashing them in.”
http://www.newsandsentinel.com/page/content.detail/id/527752.html
Social Security is a pay-as-you-go system. You seem to believe in Al Gore’s ridiculous “lock box” notion...the reason news outlets are reporting that Social Security should cash in those IOUs is due to the fact Social Security paid out $29 Billion more than it collected, but you maintain the program is doing well. Over the next 25 years, more than 75 million boomers will begin collecting Social Security checks, drawing down Medicare benefits, and relying on long-term care under Medicaid. I’m regret to inform you that this pyramid scheme is going to be crushed by the democraphics...