Social Security has hit the red earlier than expected. That’s the thing about pyramid schemes…they always fail in the end and screw over somebody. SS is just one of the many socialist programs that needs to go, or at a minimum, be privatized. And to all the seniors voting in fear over losing their social security, I do not know one supporter of social security reform who believes we should not pay back the contributors. The talk about taking away SS from the elderly is a straw man — a liberal scare tactic. From the NY Times…
Social Security to See Payout Exceed Pay-In This Year
The bursting of the real estate bubble and the ensuing recession have hurt jobs, home prices and now Social Security.
This year, the system will pay out more in benefits than it receives in payroll taxes, an important threshold it was not expected to cross until at least 2016, according to the Congressional Budget Office….