Social Security Is a ‘Ponzi Scheme’ Rob Houglum LeadLinkMedia.com Friday, April 27, 2012
Previous GOP Presidential Candidate Rick Perry made a firestorm when he called Social Security a "Ponzi scheme." Well, just this week a new report announced the Social Security trust fund is predicted to run straight out of money by 2033.
Judge Napolitano commented on the revelations this A. M. on Fox and Chums, asserting that what you have invested into Social Security thinking that the government was holding until your retirement, is, essentially, being used as tax dollars that the government is spending as it sees fit.
In his weekly column, Judge Napolitano wrote, "The only reason this was even announced is because we are getting close to a presidential election campaign, and responding to Perry's much-derided claim, the government's actuaries, who originally informed the Obama administration and the general public the fund would be solvent until 2036, re-examined their numbers and concluded that it'll be in debt 3 years sooner than they thought.".
Tags: Judge Napolitano, Social Security, Ponzi Scheme