Social Security 'Not Pay-As-You-Go'

(from CNSNews.com) - In Nancy Pelosi's world, the sky is not blue, the grass is not green, and Social Security is not a pay-as-you-go program," the National Republican Congressional Committee said. At a press conference broadcast on C-SPAN Thursday, House Minority Leader Pelosi (D-CA) commented, "The President has said this is 'pay-as-you-go'-well, it's not 'pay-as-you-go,' it's a trust fund."

"What?" the NRCC asked in a press release: "Has someone notified the Social Security Commissioner? The President? The Congress? All this time we've been wrong about this?" exclaimed NRCC Communications Director Carl Forti.

"Most everyone familiar with Social Security in any capacity understands that the current generation of workers finances the benefits of the current generation of retirees-making Social Security a pay-as-you-go-system," Forti said. That's why the system faces such big challenges as Baby Boomers begin to retire - because there will be fewer younger workers paying into the system that pays out benefits. Forti said Republicans knew Pelosi would be "dishonest about the details of the president's plan" and that she'd "mislead the public on the need for reform" and even "scare seniors" about "privatization schemes."

"But now we're seeing her blatantly misrepresent the basic facts on the way the system is run," Forti said. He called it a "desperate new low, even for the Democrats." (Donn's commentary: "typical")