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Social Security Insolvent, Voters Say ‘Do Nothing’

The main driver of the ballooning federal debtis wealth transfer payments. Indeed, more than two-thirds of the federal budget is money that goes from one taxpayer’s pocket into someone else’s. Some of this is naked wealth redistribution, like food stamps and other welfare. But much of it is what some call “earned” payments, like Social Security and Medicare – money that has been taken from workers’ paychecks for decades with the promise of a retirement return. The solvency of these programs, however, is in jeopardy…Read More


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