Word: stashing
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Dates: during 1990-1999
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...idea was to avoid burdening the far smaller generation that will follow the baby boomers with huge tax increases or a mountain of new debt. But the intentions of the reform plan were thwarted by the explosive growth of the deficit. Instead of accumulating a stash of savings, the Government has borrowed each year the surplus to pay for the normal operations of the U.S. Government, with no plan for repaying the loans. "It is like an individual having a private pension fund consisting of his own IOUs," writes economist Paul Craig Roberts, a Treasury official during the Reagan Administration...