All Time Best of Conservative New Jersey
Every Sunday we excerpt from and link to one of the very best articles previously posted here at Conservative New Jersey. This week we feature a reposting of “Obama’s Inadvertant Admission” by CNJ co-founder Ed Mazlish.
Here is an excerpt from “Obama’s Inadvertant Admission:”
Democrats opposed President Bush’s timid and appeasing plan to privatize a mere tiny sliver of Social Security by allowing workers to deposit a portion of their FICA taxes into a private account in their own name. In this link, then candidate Barack Obama attacked John McCain for having supported Bush’s partial privatization plan, because it would ” would threaten [the receipt of] government retirement benefits.” Similarly, liberal think tanks like this one argued that privatizing any portion of Social Security was “too risky” and a form of “gambling.”
But for all the talk of the benefits of government guarantees, President Obama has now made clear what should have been clear long ago. There is no Social Security Trust Fund. There are no hard assets the federal government is holding that could pay Social Security benefits. There is no guarantee of anything from the government. Click here to continue reading.