ajtj99's Market Pulse

[Math Junkie]

It's all Johnson's fault. He's the one who started counting Social Security as part of the federal budget. That's the event that has allowed people to forget that the money that has been borrowed from Social Security is every bit as much of an obligation as, say, a T-Bill.

I found an interesting interview with someone who worked in the SSA during that period, and it's interesting that she says almost no one within SSA thought the change was a good idea at the time. (Play the audio clip or search on the phrase "not in".)

http://www.ssa.gov/history/millie1.html