The campaign ads are going to write themselves next year...
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For the past 57 years I have paid into Social Security. During all of those years, politicians on both sides of the aisle have told all of us that Social Security was sound, and that seniors could depend on getting their benefits as originally promised...
In a recent interview, President Obama said he "could not guarantee that Social Security checks would go out if the debt ceiling was not raised."
If the president is correct, all of the political guarantees we have heard since 1935 just became an empty promise. And if he is correct, then Social Security is truly a Ponzi scheme similar to the billion dollar Ponzi scheme which landed Bernie Madoff in prison for life...
For the first time that I can remember, a U.S. president has used Social Security payments as a leverage tool to get what he wants out of Congress. If the president or Congress disrupts the payments of Social Security, what remains is a Ponzi scheme.
If monies collected for Social Security are less than the payment obligations, either through decreased collections or deliberate presidential action, then the American voter has been misled for 76 years!Russ Sloan
http://www.dailycommercial.com/money/story/072411RussSloan