Governor Perry calls Social Security a "Ponzi Scheme"...As if we needed any further evidence of Republican craziness.
Social Security pays out what it takes in - it is a pay as you go system, and does not contribute to the debt or deficit. In fact surpluses have been used to offset the deficit, and consequently reduce the size of the debt. But the Repubs still want to end it, all in the name of shrinking government.
<<Tax cuts are meaningless unless spending cuts follow, dipshyte!!!>>
Again you are traveling in circles.
Spending, deficits grew in relationships with boom then bust economy exacerbated by two unpaid wars and tax cuts that shrinks the government revenues.
<<Of course you wouldn't know that since you're not odl enough to have put anybody through college, right?>>
I have 3 daughters all college degrees 2 with advance degrees in education, law and administration from College of William and Mary, Fordham U, Temple and Cambridge College .
Tax cuts are meaningless unless spending cuts follow, dipshyte!!!
The tax cuts are not irresponsible and I can prove that with the revenue increases with the CBO...
Frivolous spending is irresponsible. It's like giving a new college student a checkbook and they think there is money in the account as long as there are checks left!!! Of course you wouldn't know that since you're not odl enough to have put anybody through college, right?
WRONG! They want to privatize it and divy it up according to what's left...
Bush proposed it, but liberal congress voted it down. Seems the liberals would rather it go broke so everyone gets nothing!!!! Yea, that's it! That's the ticket!!!
Go away Martinez!
I normally like your posts, Jenthico, but in this case you are simply factually incorrect.
Congress 'raids' the Social Security fund, giving it IOUs in place of its surplus. This has been widely reported. The clear meaning of this is that it takes in currently more than it pays out. Crossover, where it pays out more than it takes in, won't happen for another 10 years or more. That's when benefits will drop by some percentage when those who are working can no longer cover the numbers of those who have retired.
Don't call me a liar - I've got no ideological axe to grind, though I am very interested in facts and stats. Perry really did call SS a Ponzi Scheme, which it is not. And it certainly caught my attention. Hope it gets lots of play during the campaign. If the gov't dioes end SS, do you think they'll pay us back all we've paid in or leave us with nada after all of our investment? My guess is nada, and I'd like to count on SS for some portion of my retirement, in the interest of risk mitigation and diversification.
It IS a Ponzi scheme. Only worse, since it`s mandated by law. If you don`t wish to participate in a privately-run Ponzi scheme, you don`t have to. With Social Security, you have no choice.