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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Wally Mastroly who wrote (4316)4/6/1999 11:42:00 PM
From: BigShoulders  Read Replies (1) of 15132
 
Balanced Budget Mirage

I was throwing out some old financial reports and came across an interesting article in the Spring 1998 T Rowe Price Newsletter, "The Balanced Budget Mirage"

An excerpt:

"In the bizarre accounting used by the federal government, one part of the government - the US Treasury - is selling bonds to another part of the government - the Social Security Administration. This is identical to funding your own retirement with IOU's written to yourself during your working years."

BigShoulders
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