McCain On Social Security: 'It's A Corrupt Ponzi Scheme That Bernie Madoff Would Be Proud Of'

McCain On Social Security: 'It's A Corrupt Ponzi Scheme That Bernie Madoff Would Be Proud Of'

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News & Politics

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• McCainOnSS

[hackit12]

Sure glad he chose Palin !!!!!

[TitParty]

Show some balls Republicans. Give up YOUR social security, your health care and that of your family and staff. Lead by example.

[MAINEPREPPER]

Notice how he so flippantly says "we've already spent the money" as though somehow aliens from outer space did it and we just have no idea where it went. The surplus FICA collected in the 80s to fund SS past 2037 was used to create a fake surplus which was then "loaned" to fund the Reagan and later Bush tax cuts mostly to the rich. McCain is lying when he says it was spent' it just wasn't paid back. It's only a Ponzi Scheme if McCain and his ilk succeed in not recouping this loaned money

[jimbojim68]

@GodAthie I'm not a Tea Partier and, of course, you are right.

"These surpluses are given to the U.S. Treasury (and thus become part of the general federal budget) in exchange for special U.S. government securities, which are deposited into the trust funds. If the trust funds begin running deficits, meaning more in benefits are paid out than contributions paid in, the Social Security Administration is empowered to redeem the securities and use those funds to cover the deficit."

[GodAthie]

@jimbojim68

its solvent? so tell me where is that 2.5 trillion dollars then?

i'm a tea partier if we want to lower our debt ... we are going to have to cut back and raise taxes slightly.

[kaysandesses]

@usintelreport "allow private accounts"

That's what Bush wanted to do a few years ago. How do you think that would have worked out with the stock market crash?

People can already have private accounts. Ever heard of IRA's?

[803brando]

"we spent the SS trust fund" yeah on tax breaks for top 2% and two wars.

[mykelb]

McCain is a Corporate Whore of which the Koch Brothers can be proud.

[beeblmeyer]

Said the senile fuck married to the woman worth a $100 million, and who brought the country Sarah Palin.

[PestControl02]

so, why is no one arresting these crooks?

he openly admitted its a scam and they spent (pissed away) the supposed retirement money of millions of hardworking people.

If thats not a high crime. it sure should be.

BOTH PARTIES ARE GUILTY!!

you fools! WAKE UP!!

My God...am i the only one paying attention? please help them understand.

[BMovieWackiness]

@jimbojim68 I remember when the insolvency date was 2042 five years ago. Too bad we're going to eventually have to face the reality of our debt problem, and part of that reality is going to include a change in Social Security that is going to result in people like myself getting less than what my parents will.

We can agree that Bush's plan was terrible -- a socialization of the stock market, and just the type of crap "reform" you'd expect from him.

[jimbojim68]

@BMovieWackiness No, he's not. It's solvent until 2037. Look it up. It just needs tweaked. he was right about that. Calling it a Ponzi Scheme was the height of irresponsibility for a sitting US senator. Investing it in the stock market like Bush wanted to do would have been the scheme that cost grandma her golden years.

McCain wants to raise your taxes, Tea Partiers! 0:17 Listen.