Henry Paulson is at ground zero of the current debate over a $700 billion bailout proposal for Wall Street. But it’s interesting to note that not long ago, Paulson was callling Social Security “financially unsustainable” after releasing a report detailing the program’s so-called funding shortfalls.
Paulson’s report might have been good fodder for those wishing to privatize Social Security by investing its funds in the stock market – and idea that has…lost a bit of currency…lately. But there was a deeper problem, as EOI’s Executive Director John Burbank (now on leave) pointed out in a 2007 column:
The financial reality of Social Security is much different than Paulson’s would have people believe, though it is wrapped in the seemingly authoritative and neutral language of a policy brief from the Treasury.
More from the Everett Herald…
More To Read
November 14, 2018
The State of Working Washington 2018: Part 3
November 9, 2018
America’s Pension Plan Can Be Made Stronger Without Benefit Cuts
November 7, 2018
The State of Working Washington 2018: Part 2