The great Social Security swindle

The great Social Security swindle: “”You’re thinking of this place all wrong. As if I had the money back in a safe. The money’s not here. Your money’s in Joe’s house . . .(to one of the men) . . . right next to yours. And in the Kennedy house, and Mrs. Macklin’s house, and a hundred others. Why, you’re lending them the money to build, and then, they’re going to pay it back to you as best they can.”

Christmas season is “It’s a Wonderful Life” season, and anyone who has seen that movie — which ought to be pretty much everyone by now — will remember Jimmy Stewart’s plain-spoken explanation of banking, delivered to angry customers who have begun a run on the bank where he works.

Today it’s the Bush administration that’s started a run on the institution of Social Security. And so far no one in Washington has had the gumption or the forthrightness to get up, like Jimmy Stewart’s George Bailey, and tell the American people what’s really going on.

Maybe seniors — and the rest of us — should be scared.”

(Via Scott Rosenberg’s Links & Comment.)

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yes we should be scared, concerned, etc. but you know as a voting block, we are nothing in comparison to the boomers. their policies will govern ours well past the point of no return…. you can see this with the deficit spending. it is not that we have to pay it back, but we do have to pay interest…. it can’t go on forever and it can’t be allowed to outpace our theoretical productive growth, which…. should fall as the boomers retire.