Political Quotes

“I also would like to address the trust fund issue. I often use as an example an analogy that most people in every home can understand. I would say if you came home from work every week and you put some of your paycheck in a cookie jar for your child's college education, and then you borrowed it and you took a vacation, you bought some clothes, you did whatever with it, and you left an IOU in the cookie jar, at the end of 18 years you would have a cookie jar full of IOUs with no assets to back those up. In a sense, you would have nothing more than if you had never had the trust fund to start with. It is nothing but an accounting tool that shows us how much has gone in. Now, this is how it was from the beginning. It is possible if we could bring back the Congresses of 1945 and 1948 and 1950 and 1960 and 1967, we could ask them if they would like to rethink that, and if they would have wanted to put it in a trust fund and put it someplace where it would grow and get interest and so forth. But in the meantime, those Congresses, believing that it was important to build an educational system and so forth, they spent the money. In fact, in 1967, when Social Security was fixed at one point, increased revenues, it supported the war in Vietnam and at the same time the Great Society. Unfortunately, those programs that were started at that time still are the responsibility of the generations that followed behind.…”