Political Quotes

“Baron Rothschild once said, I do not know what the Seven Wonders of the World are, but I do know the eighth, compound interest. Mr. Speaker, Baron Rothschild called compound interest the eighth wonder of the world for a good reason. Modest amounts of money, when invested and then reinvested, grow over time in a spectacular fashion. It takes patience but it works, as all seniors who started out with modest means but saved now know. The biggest reason why social security needs to be reformed is not because it is going bankrupt, although it is impossible to deny that it is. No, the biggest reason why social security needs to be reformed is because the current system denies ordinary workers the benefits of compound interest. Money taken out of a worker's paycheck does not go into a fund that will earn compound interest. It is spent. The money does not grow, and benefits can only come from taking money out of someone else's paycheck. It is time to take advantage of the eighth wonder of the world.”