By Ed 'Hack' Wheely
Posted on July 2, 1999 6:01 am, in News Byproducts
Washington (NBp) - With a social security crisis looming and public
support for stock market investment by the Social Security Administration
waning, lawmakers on Washington have been searching for new ways to
improve the cashflow of the public retirement fund.
Taking a cue from recent investment advertisements on television,
lawmakers have proposed a plan to bolster Social Security through
lottery ticket purchases.
"We think that many people in the Social Security Administration
and in Congress are inherently lucky," explained Senator Fred Thurmorton.
"We have decided to capitalize on that luck."
The SSA is a Federal agency with offices all over the country,
making it easy for the government to buy lottery tickets in every
state that offers them. The General Accounting Office estimates that,
if every ticket purchased is a winner, a $200 per week investment
by the SSA will net approximately $45 million. This huge return
on investment will more than make up for expected Social Security
shortfalls.
"It seems so simple, I don't know why no one has thought of it
before," wondered Thurmorton.
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