Social Security is first and foremost a promise to the American citizen that they have a safety net. The government also backs corporate pensions. What happens when corporations can’t pay their pensions? The government picks up the tab through its pension insurance program. If the money isn’t there, the gov works it into its budget or deficit spending. What will happen when the funding system for social security falls short? The government will work it into its budget or deficit spending to live up to its promise. Do you have any doubt of that? I don’t. I do doubt, however, that people like Madoff will ever live up to their promises. And these are the folks you’d like to turn Social Security management over to by privatizing it?
Social Security is first and foremost a promise to the American citizen that they have a safety net. The government also backs corporate pensions. What happens when corporations can’t pay their pensions? The government picks up the tab through its pension insurance program. If the money isn’t there, the gov works it into its budget or deficit spending. What will happen when the funding system for social security falls short? The government will work it into its budget or deficit spending to live up to its promise. Do you have any doubt of that? I don’t. I do doubt, however, that people like Madoff will ever live up to their promises. And these are the folks you’d like to turn Social Security management over to by privatizing it?