July 9, 2008 Leave a comment
John McCain's most recent comments on Social Security are absolutely breathtaking in their stupidity. He's admitted he doesn't really know much about economic policy, but this is ridiculous.
benefits someday, McCain said it was unlikely “unless we fix it.”
have got to understand that we are paying present-day retirees with the
taxes paid by young workers in America today,” he said. “And that's a
disgrace. It's an absolute disgrace, and it's got to be fixed.”
dollars were paying folks who were retired back then. And in exchange
for that service when they were workers, today's retirees get to enjoy
a secure retirement. Yes, on my dime. And in exchange I expect that
when I retire, ensuing generations will be there for me. I call it
generations looking after each other, so that those who built the
present with labors in the past get to enjoy some of the fruits of
their labor. The federal government calls it Social Security. John
McCain calls it a disgrace.
how Social Security works and he's scandalized by it. Needless to say,
though, this is the way virtually every retirement system in the world
works, and it works fine. What's more, if Social Security really does
turn out to have a shortfall in future years, it's easily fixed by a
very modest combination of higher taxes and reduced benefits ? exactly
the bipartisan, reach-across-the-aisle solution forged in 1983 that
McCain is constantly praising (and that he voted for as a freshman
In short, this comment shows McCain to be either a) disgracefully stupid, or b) disgracefully dishonest. I don't think there is a c), so take your pick.