Ever since FDR first proposed Social Security, he and his fellow Democrats have insisted that the program was a bunch of individual accounts into which Americans put money for their retirement. This has made any attempt to reform the listing program politically impossible, as millions of Americans were convinced that “their” personal Social Security account would be threatened.
Here’s the thing: it was never true.
Now, of all people, Tim Kaine, in an attempt to criticize Republicans, explodes the seventy-plus-year lie (Falls Church News Press):
The idea of taking money from one generation to give it to another is fundamentally what Republicans don’t like.
Actually, that is fundamentally what the Democrats have insisted – for decades – is not Social Security. Kaine has just admitted that his party has been lying on this issue for over three quarters of a century.
Next step is admitting that the program is completely unsustainable in the 21st Century. With any luck, the Democrats will admit to that before 2089.
Cross-posted to Bearing Drift