Originally Posted by blucher
It's modeled after European pensions and common in Western nations. It worked fine until they sucked the cash out of it by allowing it to be borrowed against. The concept works but it must be managed correctly.
Bush should have put Clinton's surplus back into Social Security instead of OIL WELFARE.
If they left the cash in wouldn't inflation eat it up? . . . and how can it draw interest if not borrowed? The sad news is that the government loans it to itself and we pay the interest. I suspect that's why the government established it it the first place, progressives looking for off-budget funds.