Krauthammer: ‘Of Course It’s a Ponzi Scheme’
11:23 AM, Sep 16, 2011 • By JEFFREY H. ANDERSON
Charles Krauthammer writes that Social Security is, indeed, a Ponzi scheme. It’s also “the most vital…of all social programs,” and it can easily be saved from collapse — mostly by (gradually) raising the age of eligibility: “When Franklin Roosevelt created Social Security, choosing 65 as the eligibility age, life expectancy was 62. Today it is almost 80. FDR wanted to prevent the aged few from suffering destitution in their last remaining years. Social Security was not meant to provide two decades of greens fees for baby boomers.” Whole thing here.
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