Well, if someone has to take the hit and not be repaid — and someone does, with any Ponzi Scheme when it finally collapses — then it should be the current and pending generations of recipients. They are the ones who are responsible for allowing such a corrupt system to continue for so long, and who fought against efforts to reform it in the previous decade.
Category: Entitlement Reform
The “Homer Simpson Approach” to Social Security
I’m pleased to note that Paul Hsieh’s latest article on PajamasMedia quotes from and links to my post On Eliminating Social Security, here on the Repeal the Bailouts Blog: The Homer Simpson Approach to Social Security by Paul Hsieh Paul’s article is excellent, as always. Like my post, it shines a light on the “dirty…
Jefferson on Future Debt
From AZ Quotes: But with respect to future debt; would it not be wise and just for that nation to declare in the constitution they are forming that neither the legislature, nor the nation itself can validly contract more debt, than they may pay within their own age, or within the term of 19 years….
On Eliminating Social Security
Should one advocate a gradual phaseout of Social Security and Medicare, or outright abolition? That’s a question on which I’ve had mixed thoughts for a while. On the one hand I see the point of Ayn Rand’s own statements in support of a phaseout because people have become dependent on the system. But my attitude…