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