In a follow-up to reader Bryan’s email earlier, here are comments from President Bush today talking up Social Security reform. When it came to the so-called trust fund that anti-reformists often cite, the president noted:

“A lot of people in America think there is a trust — that we take your money in payroll taxes and then we hold it for you and then when you retire, we give it back to you. But that's not the way it works. There is no trust 'fund' — just IOUs that I saw firsthand.”