All is . . . Not Well

WRM comments on the state of the world’s most infamous trust fund that isn’t:

[T]here’s absolutely nothing to worry about. As the Wall Street Journal explains:

Many Democrats on Capitol Hill argue that Social Security isn’t in dire shape, in part because the program holds assets in special-issue U.S. Treasury securities.

In other words, no need to sound the alarm. We’re in fine shape, because our government’s obligations are 100 percent backed by… government obligations. Glad that’s all been cleared up.

Almost like the classic con: lies backed up by more lies, until the person trying to get to the bottom of things is simply overwhelmed.