Olbermann goes on the attack against Brit Hume for taking some of FDR's quotes on Social Securiity out of context. Keith was joined by James Roosevelt jr., grandson of FDR
James Roosevelt Jr: Hume's "outrageous distortion" of FDR "calls for a retraction, an apology, maybe even a resignation"
But look at how Hume mixed and matched the original Roosevelt quotes on February 4th (and were quoting this verbatim from Foxs website) it turns out that FDR himself planned to include private investment accounts in the Social Security program when he proposed it. In a written statement to Congress in 1935, Roosevelt said that any Social Security plans should include, Voluntary contributory annuities, by which individual initiative can increase the annual amounts received in old age, adding that government funding, ought to ultimately be supplanted by self-supporting annuity plans.
Roosevelt said no such thing. The voluntary contributory annuities are the IRAs and Keoghs and 401ks. What ought to ultimately be supplanted was the special government contributions to Social Security on behalf of people born in the 1870s and earlier, and the self-supporting annuity plans constitute Social Security itself.
Media Matters has more here