A recent point-counterpoint on Social Security steered clear of the usual talking points. The case against privatizing was made by Mark Weisbrot of the Center for Economic and Policy Research, who used details of the president's plan as spilled by a "senior White House official". One of those details:
The money that will go into the private account isn't really yours. At the end of your working career, you have to pay it all back to the government -- plus interest: at the rate of U.S. Treasury notes.
Treasury notes? You mean those "worthless IOUs" in the trust fund?
The difference between what you made in your private account and what you have to pay back, with interest, is your "profit" -- or loss.
Derrick Max, you ignorant slut! More after the break.
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