It’s pretty clear that Senior Citizens are unwilling to consider Jonathon Trugman‘s plan to invest the Social Security Trust Fund in the stock market. Clearly, they don’t trust Wall Street any more than they trust Congress. Can you blame them?
Jonathon does understand the issue we’re facing though. He makes a great point in the New York Post:
The problem is that 100 percent of the Social Security trust fund is invested in ultra-low-yielding government securities and “special government securities.”
The government essentially raids the cookie jar and uses the trust fund cash for other governmental purposes — then puts an IOU in its place.