Quote: “Social Security always creates more public debt!” – Allen Sloan
Submitted by bsfootprint on Wed, 08/11/2010 - 20:29
The 2009 trustees report, available at http://www.ssa.gov/OACT/TR/2009/tr09.pdf, does not contain the exact quote. Is this a misquote or was the report edited after the fact? (I assume it's a misquote.)
Quote:
Supposedly quoting the 2009 S.S. trustees report: "Neither the redemption of trust fund bonds, nor interest paid on those bonds, provides any new net income to the Treasury, which must finance redemptions and interest payments through some combination of increased taxation, reductions in other government spending, or additional borrowing from the public."
Who Said It?:
Allen Sloan
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