Social Security Is a ‘Ponzi Scheme’ Rob Houglum LeadLinkMedia.com Friday, April 27, 2012
Previous GOP Presidential Applicant Rick Perry created a firestorm when he called Social Security a "Ponzi scheme." Well, just this week a new report announced that the Social Security trust fund is predicted to run out of money by 2033.
Judge Napolitano commented on the revelations this A. M. on Fox and Chums, announcing that what you've invested into Social Security thinking that the executive was holding till your retirement, is, essentially, being used as tax bucks that the state is spending as it sees fit.
In his weekly column, Judge Napolitano wrote, "The only reason this was even announced is as we are getting close to a presidential election campaign, and in response to Perry's much-derided claim, the government's actuaries, who originally informed the Obama administration and the general public that the fund would be solvent until 2036, re-examined their numbers and came to the conclusion that it'll be in debt three years earlier than they thought.".
Tags: Judge Napolitano, Social Security, Ponzi Scheme