The Federal Reserve System Furnished the Money for World War II: Why Can't It Do the Same for Social Security?

Abstract

Columnist Eliot Janeway recently wrote in the Chicago Tribune that the federal government always needs money. “But large or small, these money needs can be met only by some combination of taxing or borrowing.” There is a third auxiliary way of making sure that enough money is available for both business and government, that involves neither taxing nor borrowing. This method was used to help win World War II.

Citation

Kitching, B. (1981), "The Federal Reserve System Furnished the Money for World War II: Why Can't It Do the Same for Social Security?", International Journal of Social Economics, Vol. 8 No. 7, pp. 70-72. https://doi.org/10.1108/eb013906