In another example of reckless rhetoric, Senator Dick Durbin recently stated on Meet the Press that Social Security does not add one penny to the deficit. Of course, this idea is only technically true in the sense that the payments to fund Social Security are being stolen from present day workers who have every right to believe and expect that the money taken out is set aside for retirement pensions. Only someone who has no contact with economics, accounting or the actuality of funding an organization could be as boldly ignorant as Mr. Durbin has been.
Even worse, Durbin went on to claim that untouched, Social Security will make every promised payment for more than 25 years. What an outrageously incorrect statement. There is no money available from any actuarily sound fund of money from which these payments can be made. Social Security is bankrupt and Mr. Durbin knows it. It is despicable that a Senator can boldly lie to the public without rebuke on such an important topic as Social Security.