Will Grigg?s Liberty Minute

March 26 2010

Days after Congress enacted the largest and most expensive socialist entitlement program in history, the New York Times reported that Social Security, the foundational entitlement program, is no longer financially viable.

Stephen Goss, chief actuary for Social Security, says the program will be paying out more than it takes in this year. This tipping point wasn?t expected for another six years . However, owing to the job losses caused by the catastrophic economic contraction, Social Security tax confiscations are down sharply.

Goss insists that benefits won?t be cut, and that the so-called trust fund is large enough to last until 2037. However, the Social Security ?trust fund? is an illusion: The money stolen from paychecks in the name of Social Security goes into the general revenue fund, and it will be devoured by mounting deficits and interest payments.

The administration must have known last week that Social Security is on the brink of collapse, but withheld that news in order to ensure passage of its nationalized health care program.

Let us take back the liberty wherewith Christ has made us free.