the true dimensions of the administration's proposed ploy .. were made painfully clear in a memo that was leaked to the press last week. Written in early January by Peter Wehner .. the memo states unequivocally that under a privatized system, only drastic benefit cuts - not borrowing - would relieve Social Security's financial problem.Actually -- no surprise -- the NY Times just lied. Under the current set up (or any other), unless either taxes are raise or benefits are cut, the system will fail. It's a typical NY Times lie to imply something else.
Wehner's original memo is here.
For a reality check on Social Security read Right Side of the Rainbow, and then go here and find out how much the politicians are thieving from you with the Social Security scam.
Posted by Greg Ransom