Sunday, August 9, 2009

Social Security Time Bomb

Fortune Magazine's Allan Sloan has a great article about Social Security and how it is ripe for the next, big bailout. You can read it here.

My favorite quote from the article is this:
"The trust fund has no financial significance," says David Walker, former head of the General Accountability Office and now president of the Peterson Foundation, which advocates fiscal responsibility. "If you did [bookkeeping like] that in the private sector, you'd go to jail."

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