Let’s see this evidence before it disappears,
http://www.msnbc.msn.com/id/7393649/
“A lot of people in America think there is a trust — that we take your money in payroll taxes and then we hold it for you
Bush said. “There is no trust ‘fund’ — just IOUs that I saw firsthand,” Bush said.
Susan Chapman of the Office of Public Debt Accounting had shown Bush an ivory four-drawer filing cabinet with numeric locks. “This is it,” she said.
“This is what exists,” Bush said, illustrating his point that the promise of future Social Security benefits are simply stashed in a file.
Chapman opened the second drawer and pulled out a white notebook filled with pseudo Treasury securities — pieces of paper that offer physical evidence of $1.7 trillion
by law, the bureau creates paper bonds to put in the file cabinet just in case anybody, like Bush, wants to see the trust fund.
“Imagine,” Bush said in his speech. “The retirement security for future generations is sitting in a filing cabinet.
What Government spending entity borrowed the money? When does it get paid back?