That revelation, which was greeted with a ho-hum by the media, basically announced that by 2033, 21 years from now, the so-called Social Security trust fund will be empty. The only reason this was even announced is because we are approaching a presidential election campaign, and...
Get a clue. Perry was correct - the present retires have SS because current workers pay into the system. As more people retire and draw SS, and as there are fewer current workers paying into the system, then either tax rates go up on the workers, or benefits are reduced to the retirees. Besides - don't focus on just Perry - recall that the author - Judge Napolitano is DEFENDING Perry's statement - and he spells out a number of reasons - and I didn't see you refute any of those reasons!!
When Texas Gov. Rick Perry, then in the early stages of his short-lived quest for the Republican presidential nomination, referred to Social Security as "a Ponzi scheme," he was excoriated by the press, left and right, and by his fellow Republicans, as well. Earlier this week, government actuaries revealed that Perry was correct.
- Surprise coming in MA gubernatorial race? Ed Morrissey 10 mins ago
- America has no strategy, but ISIS does: Biological terrorism Noah Rothman 49 mins ago
- More non-existent voter fraud tuns up in Virginia Jazz Shaw 1 hour ago
- AFP Defending the Dream Summit: Day 1 Ed Morrissey 2 hours ago
- Quotes of the day Allahpundit 11 hours ago
- Citizen legislator Sen. Mary Landrieu doesn’t really live in Louisiana Mary Katharine Ham 12 hours ago