From: "Steve Ewing" 

On Wed, 9 Feb 2005 11:15:02 -0500, Mark  wrote:

> "Do you happen to have a cite?"
> http://www.techcentralstation.com/020905G.html

FDR's quote, from the site above:
===
In a memo to Congress in 1935, FDR said:



"In the important field of security for our old people, it seems
necessary to adopt three principles: First, noncontributory old-age
pensions for those who are now too old to build up their own insurance. It
is, of course, clear that for perhaps 30 years to come funds will have to
be provided by the States and the Federal Government to meet these
pensions. Second, *compulsory contributory annuities that in time will
establish a self-supporting system for those now young and for future
generations*. Third, voluntary contributory annuities by which individual
initiative can increase the annual amounts received in old age. It is
proposed that the Federal Government assume one-half of the cost of the
old-age pension plan, *which ought ultimately to be supplanted by
self-supporting annuity plans*." [emphasis added]
===

The first part, gov't-funded pensions, was for currently-old people who
obviously couldn't have contributed to a non-existant program.  The second
part, the annuities, well duh, that's Social Security.  Third, you can save
on your own outside of SS.  The "ought ultimately to be
supplanted" part means that, of course, the old folks would eventually
die off, leaving only the SS remaining.

Let me find the blog that explained it, Josh Marshall or Kevin Drum...
Neither.  I saw it on Eschaton, but it ultimately comes from Media Matters:

http://mediamatters.org/items/200502040010

--
Steve 
http://www.qmss.com/sewing

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