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: Instapundit.com

WHAT HAPPENED TO THE ?LOCKBOX?? Social Security starts cashing in US debt. ?We?ve noticed the ca?

By Glenn Reynolds

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WHAT HAPPENED TO THE “LOCKBOX?” Social Security starts cashing in US debt. “We?ve noticed the cash shortfalls at Social Security for more than a year, and now they appear to be permanent. For the first time, the Social Security Administration will start cashing in its IOUs from the Treasury in order to meet its benefits obligations. Unfortunately, the Treasury doesn?t have the cash, either.”


Full post as published by Instapundit.com on March 15, 2010 (boomark / email).

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