Jul 19, 2010
Retired Senator Alan Simpson, chairman of President Obama’s bi-partisan commission to study the federal deficit, lost his cool. And the truth slipped out – on video.
It happened when Simpson was videotaped coming out of one of the secret meetings organized to make cuts to Social Security.
An advocate from the group Social Security Works asked Simpson about the commission’s plans to cut what Simpson calls “the big three” – Social Security, Medicare and Medicaid.
Specifically, Simpson was asked about the current 2.5 trillion dollar social security surplus. Simpson said:
“It’s 2.5 trillion bucks in IOUs.”
The advocate asked him, in so many words: Wasn’t the surplus built up for pre-funding the retirement of the baby boom?
Simpson said: “Listen. It’s 2.5 trillion bucks in IOUs which has been used to build the interstate highway system and all of the things people have enjoyed since it has been set up.”
The advocate tried to clarify with Simpson about the money that needs to be paid back to Social Security: “The worthless IOUs – that actually goes back to 1936.... Backed by the full faith and [credit of the] government.”
Simpson explained that when Social Security was originally set up, the government thought that people “would die at 57 and that’s why they set the date at 65.... Now the life expectancy is 78 ... so we have to adjust that and make it work for the future....”
Simpson further explained: “They never dreamed that the life expectancy [would go from] 57 years of age to 78.... They just died. People worked. Social Security was never a retirement.”
In other words, the budget deficit commission wants to get Social Security back to its 1936 roots by raising the age to collect benefits high enough that most people die before they collect. In other words – tax people while they’re working – and keep them working so long – they’ll die before they can collect!
What an outrageous admission! The Chairman of the President’s Commission views Social Security as a big scam on the elderly and the population and admits that it was a scam from the beginning.