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John McCain Calls Social Security an "Absolute Disgrace"

Posted by Cenk Uygur, The Young Turks at 10:15 AM on July 11, 2008.


Not in an I-want-to-make-it- better way, but more in a I-get-this-about-as-much-as-I-get- the-internet way.

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"Americans have got to understand that we are paying present-day retirees with the taxes paid by young workers in America today. And that's a disgrace ..."

Uh, pretty sure most Americans understand the basic principles behind social security.

Two terrible economic blunders that make the McCain camp look out of touch in only one week. Are they going for some kind of record?

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Sure, so-called social security is a ponzi scheme. As the author suggests...
Posted by: ABetterFuture on Jul 11, 2008 2:39 PM   
Current rating: 1    [1 = poor; 5 = excellent]
...everyone knows it, winks, nods, and collects their checks (and votes).

The author helps put SS in perspective: it really doesn't matter that its an unfunded, ginamorous liability; the unfunded liability of SS is dwarfed by that of Medicare.

To wit: we'll drain the working class dry paying for medicare under current fiscal policies far faster, and with far larger ramifications that we will by draining them to pay for a hamburger today with money tomorrow in the established SS style.

Yeah, you're going to ask for links. I submit to you Ms. Jefferson, who taught me 4th grade addition and subtraction skills, and my 10th grade Economics teacher, who taught me how to balance a budget*. Neither of them have websites. Your loss. Really.

*Skills lost on our Congresscritters, not that it matters to most "Just keep my checks and the promises flowing" voters.

What is the legacy, then, of FDR? I'll tell you what: the national attitude that you can have something today and pay for it tomorrow. A debtor nation. Perpetually. And folks have gotten comfortable with that over the course of fifty or so years: see also the so-called "mortgage crisis".

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» RE: ponzi scheme Posted by: Fishbone Soldier
McCain is self destructing . . .
Posted by: dustdevil on Jul 11, 2008 2:49 PM   
Current rating: 5    [1 = poor; 5 = excellent]
McCain is cranking up the same old lies and half truths that Bush couldn't get people to swallow.

The Social Security Fund has been running a surplus since 1983. If there is any problem with future solvency it is because the government has been stealing that money to use for other things, such as tax breaks for the rich and illegal wars.

Young people today are not paying for retirees' social security. They are replacing the money the government stole from the fund.

We paid the money into the fund. They stole it.
That is the real disgrace of Social Security.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

» RE: McCain is self destructing . . . Posted by: Fishbone Soldier