Social Security Personal Accounts Will Refinance Existing Debt, Not Incur New Debt
(Washington, DC):
WHO: IPI Senior Research Fellow Larry Hunter IPI Senior Research Fellow Peter Ferrara,
WHAT: By offering Social Security personal accounts, the government will not incur new debt. Instead, personal accounts only refinance existing debt.
Why? Because every dollar of the payroll tax currently spent to pay benefits is effectively borrowed from workers preventing them from investing for their own retirement and therefore represents a new dollar of debt.
Americans deserve the opportunity to create a retirement for themselves, their children, and their grandchildren.
WHEN: Available immediately to television, radio and print.
CONTACT: Sonia Hoffman, shoffman at ipi.org or (703) 912-5742 office or (202) 213-0379 cellular.
The Institute for Policy Innovation is a free-market, public policy organization with offices in Washington, DC and Dallas, Texas. ###