Academic journal article Labor Law Journal

From the Editor

Academic journal article Labor Law Journal

From the Editor

Article excerpt

Dear Reader:

If private fiduciaries treated a trust fund like Congress and prior administrations have treated the Social Security Trust they would have to answer for their actions in a court of law. Now the American worker is being asked to trust these same institutions to propose and implement changes to the Social Security system to "save" it from impending bankruptcy.

Instead of treating the Social Security Trust as a conventional trust, Congress and past administrations have often treated it as a piggy bank to make budget numbers more palpable. If we examine the income to the trust versus its outlays for retirement and disability payments, we see that there is no "Social Security Crisis."

The government has simply come to the realization that it can't really cover the IOUs that it has issued in the past whenever it raided the trust to cover non-trust expenses. …

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