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Where’s the leadership on Social Security?
  22 Sep 2012     8:07 am      Dustin Siggins

In 2010, the Social Security Trustees Report said Social Security would be able to fulfill all current obligations until 2036.  In 2011, that estimate was bumped to 2035, and this year it was changed to 2033.  Clearly, the program must be reformed, yet many Washington politicians think like Senate Majority Leader Harry Reid (D-NV), who said in January 2011 that “Social Security is a program that works and is fully funded for the next 40 years” and that “the arithmetic on Social Security works.”
Any politician who thinks Social Security “works” …

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The Future of Social Security: Getting Bleaker & Bleaker
  29 Jun 2012     12:29 pm      Dustin Siggins

On June 21, Charles P. Blahous III and Robert D. Reischauer, Public Trustees of the Social Security and Medicare Boards of Trustees, testified to the House Ways & Means Committee’s Subcommittee on Social Security on the 2012 Social Security Administration (SSA) report on the fiscal health of Social Security. During the hearing, from minute 51:55 to minute 58:42, Representative Kenny Marchant (R-TX) asked several important questions that garnered revealing information about the true fiscal problem Social Security faces in coming years and decades. (Full disclosure: I worked for Rep. Marchant …

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Who’s Offering Economic Solutions?
  25 Feb 2012     5:30 pm      Michael Fell

Given America’s growing national debt, now in excess of $15 trillion:
A per capita government debt that’s worse than Greece’s:
Unemployment numbers “officially” listed at 8.5%:
Petroleum prices trending higher, adding pain at the pump for consumers while decreasing money available to them for spending on vital necessities like food and shelter:
A statement like: “America’s in need of economic solutions” is certainly far from a stretch. Many would say such a statement falls more into the “You have a firm grasp of the obvious” category.
The questions are:
Who will offer the solutions? What solutions …

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Obama’s Budget: More Tax, Borrow and Spend
  13 Feb 2012     5:57 pm      Michael Fell

The White House presented its 2012 budget Monday. A $3.8 trillion proposal which includes $1.43 trillion in new taxes on households whose incomes meet or exceed $250,000 (note: this is the new “progressive” definition of millionaires and billionaires), a fourth straight year of $1 trillion-plus deficit spending (which will require yet more borrowing), and new mandatory spending intended for the Education and Energy Departments.
As has been the case for the past three years, the White House pays lip service to calls for reduced spending. There are no efforts made to …

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State of the Union or Wishful Thinking?
  25 Jan 2012     5:46 pm      Michael Fell

The 2012 State of the Union address has come and gone with little change in the White House’s view of the world. This is unfortunate. America needs viable solutions, not more wishful thinking.
Most disturbing is the continued, steadfast insistence that doubling America’s corporate tax rate will somehow create middle class jobs. After repeated failures by the current Administration to productively invest taxpayer’s money in green energy companies like Solyndra, what track record exists to support the assumption that government can invest the people’s money more wisely than those who earned …

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The Elephant Stick
  29 Dec 2011     3:07 pm      Michael Fell

What’s the elephant stick?  Simply, it’s a stake driven into the ground to keep a chained baby elephant from escaping captivity.  The young elephant, small and relatively weak, is not yet strong enough to pull up the stake and flee.  The baby elephant learns that when it feels tension on it’s ankle it’s reached the end of the chain and can’t go any farther.  The elephant’s memory kicks in.  For the rest of it’s life, even after it’s become the largest, most powerful land animal on earth, a small stake, chain and ankle cuff are all that’s needed to keep the …

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Social Security Disaster
  5 Oct 2011     1:52 am      Walter Williams

Politicians who are principled enough to point out the fraud of Social Security, referring to it as a lie and Ponzi scheme, are under siege. Acknowledgment of Social Security’s problems is not the same as calling for the abandonment of its recipients. Instead, it’s a call to take actions now, while there’s time to avert a disaster. Let’s look at it.
The term was derived from the scheme created during the 1920s by Charles Ponzi, a poor but enterprising Italian immigrant. Here’s how it works. You persuade some people to give …

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Social Security Ponzi Scheme Fast Approaching Point of Collapse
  14 Sep 2011     2:10 pm      Dave Blount

Although progressives like Willard “Mittens” Romney attack Rick Perry for referring to Social Security as a Ponzi scheme (as many have done before), the question isn’t whether this sacred pillar of statism is an unsustainable swindle, but rather how long it will be before its inevitable collapse. The answer — not long at all:
There were only 1.75 full-time private-sector workers in the United States last year for each person receiving benefits from Social Security, according to data from the Bureau of Labor Statistics and the Social Security board of trustees. …

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How Sustainable Do You Think This Is?
  13 Sep 2011     5:48 am      John Hawkins

From CNSNews.
There were only 1.75 full-time private-sector workers in the United States last year for each person receiving benefits from Social Security, according to data from the Bureau of Labor Statistics and the Social Security board of trustees.
That means that for each husband and wife who worked full-time in the private sector last year there was a Social Security recipient somewhere in the country taking benefits from the federal government.
…In its latest annual report, the Social Security board of trustees reported that the federal government’s total revenue from Social Security …

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Put ‘Country Before Party’ and Admit Social Security Is a Ponzi Scheme
  10 Sep 2011     5:03 am      John Hawkins

There are few issues where we need to put “country before party” more than Social Security, which is why Rick Perry’s comments about the program were a breath of fresh air.
Texas Gov. Rick Perry’s assertion this week that Social Security is a “Ponzi scheme” touched off a heated debate within the GOP whether voters would embrace such provocative language.
At Wednesday’s Republican debate, Mr. Perry, the governor of Texas, said it was a “monstrous lie” to tell young workers that the 74-year-old pension system would be there when they retire. He …

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