Social Security is financial unsustainable and morally bankrupt.
The “freedom” about which Bernie Sanders speaks, and before him Franklin Roosevelt, in fact, involves a loss of liberty into an even greater degree of political paternalism.
Creating pensions that offer generous retirement benefits wins votes in the present by promising spending in the future. Promises cost nothing in the short run — and elections are held in the short run, long before the pensions are due.
It’s important for citizens to understand — and face — the fact that the problems ailing Social Security are not primarily fiscal. The problems are moral.
“Nobody ever went broke underestimating the intelligence of the American public.”
The only way Congress can send checks to Social Security and Medicare recipients is to take the earnings of a person currently in the workforce. The way Congress conceals its Ponzi scheme is to dupe Social Security and Medicare recipients into thinking that it’s their money that is put away and invested.