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Big discussion right now on Social Security of the one point 7% cost of living increase for -- thirteen.
It's one of the smallest since automatic adjustments for inflation were adopted back in 1975.
Our next guest is definitely not holding back when it comes to his opinion known on Social Security Fox News senior judicial analyst judge and an apology and -- and people get -- seniors didn't.
Very very upset when they get these little if no cost of living increases in -- -- security check.
That's because the -- government has built -- dependence on itself.
For those receiving services Social Security Medicare Medicaid when FDR.
And the Democrats first came up with the idea of Social Security FDR -- we'll be holding your money for you this is your money we will hold -- -- and that's -- it'll grow.
And when you retire will give it back to you.
At the same time he was saying that he dispatched Justice Department lawyers into the Supreme Court.
To resist constitutional challenges to Social Security in and their argument they sent to the court.
It's not the people's money it's the government's money and the government doesn't even have to give them back it's part of the government's general funds against what the Supreme Court agreed with them.
So there is no contract.
Between Social Security contributors which is three of us and everybody who was watching us and and works.
And Social Security recipients that money is given.
By the political will of congress not by any legal off limits can -- Calories it's -- federal government had barred it from trust fund well yes because the money that is deducted from our pay here every week.
He spent immediately by the federal government but the money that has paid to our parents and grandparents is borrowed.
So if that's not a Ponzi scheme I don't know what had about seven months just about to say you have had a right -- you're making an argument you'd essentially saying hey this whole thing's a Ponzi schemes just to complete.
Yes yes it is and and that's why -- Longo was 1975.
The increases were built and so congress could resist the political pressure -- from Social Security recipients -- give us more they can say you know lot of automatically kick you know kick in for inflation.
And when one plus two plus three is in an up and divided by A minus B minus say you know some calculation I'm just.
Giving a hypothetical example what the calculation for your -- you'll get your more money question.
So what's that what's.
Purpose of making that argument now -- -- in pragmatic terms in other words anybody talks -- security they're debating should we raise the retirement age should we do this that nobody.
In the mean you know on the political discourses and just get rid of -- whole -- -- as well well very few people are saying that actually.
The Paul Ryan has suggested getting rid of -- are reducing it.
Not for current recipients of it.
But for people like that three of us who are not yet recipients of Social Security.
Would be given certain options and people who are forgive me Kagan younger than any of the three advice that would undercut what makes -- tortured -- would be given a lot of options at the beginning of fair of their working years.
And among those options would be to keep the money yourself and to and to care for yourself and the reason congressman Ryan.
Has advance this again it would affect anybody currently receiving it.
Is he knows and is acknowledged -- a Ponzi scheme it will eventually go bankrupt that more money is going out -- is coming in and at some point it won't be able to us.
-- against -- -- we're talking about so security that find exhausted in 21 years Medicare fund there exhausted.
In 20/20 four so much sooner than that.
-- very easy to fix -- security though it's just money it has nothing to do with anybody well look.
I don't agree with congressman Ryan's budgetary proposals because they borrow money.
To it to me -- a budget should you should spend just we have taken but I do agree with them on this he is one of the few.
Politicians in the country.
Willing to address the fact that you're right in just one generation from now they will not be able to make ends meet they will not be able to borrow enough money to pay their Social Security Medicaid.
And Medicare obligations so the time to address that is now.
Before it's too late.
-- -- -- so security and and you try to take on Medicare and you're dealing with life and death issues there's too many people dependent on the federal government and other federal government's about dramatic cash what do we do thank you judge pleasure from the South America.
I thought we could -- for now how.
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