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Wednesday, March 16, 2005
Twinkle , twinkle lying Cain
Herman Cain writes:A past chairman of the Federal Reserve Bank (of Kansas City) is claiming -- in print -- that the private accounts in Galveston County (which are totally different than the private accounts proposed by Bush) have provided rates of return "hundreds of times higher than Social Security"? Galveston claims returns as high as 8%. Social Security provides returns of 2%, which includes paying current benefits. Eight divided by two doesn't equal hundreds of anything, unless you first multiply it by the number of lies in Cain's mendacious column. It truly is a piece of work, piecing together, as it does, every disproved claim the Bush administration has offered in its failed attempt to dismantle the most successful program in the history of American governance.
