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Government Squandering Social Security Funds On Cake

February 12, 1997 | ISSUE 31•05

WASHINGTON, DC—An independent panel revealed Friday that Congress is squandering the nation's $80 billion Social Security reserves on cake. According to the panel report, some of the cake was served in "extra-large helpings," sparking outrage among taxpayers. Cake-related abuse of funds will be further investigated by a congressional subcommittee, headed by Sen. John Ashcroft (R-MO), who reportedly "does not like cake."

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