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President tells unvarnished truth about social security.(Brief Article)

The New American

| May 16, 2005 | COPYRIGHT 2005 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

"You see, a lot of people in America think there's a trust, in this sense: that we take your money through payroll taxes and then we hold it for you, and then when you retire, we give it back to you. But that's not the way it works. There is no 'trust fund,' just IOUs that I saw firsthand, that future generations will pay for either in higher taxes or reduced ...

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