payrolltaxes http://www.mrc.org/taxonomy/term/15476/all en Social Security: Government 'Ponzi' Scheme Turns 75 with $41 Billion Shortfall http://www.mrc.org/articles/social-security-government-ponzi-scheme-turns-75-41-billion-shortfall <div class="field field-type-nodereference field-field-source"> <div class="field-items"> <div class="field-item odd"> <div class="field-label-inline-first"> By</div> <a href="/author/julia-seymour">Julia A. Seymour</a> </div> </div> </div> <p >This is a historic year for the largest government program: Social Security, which turns 75 in just a few days. The program is also running a deficit for the first time since 1983, and ahead of estimates.</p> <br /> <p >Initially, Social Security was created to provide supplemental income to elderly and disabled people who could not work, and was signed into law by President Franklin D. Roosevelt Aug. 14, 1935. </p><p><a href="http://www.mrc.org/articles/social-security-government-ponzi-scheme-turns-75-41-billion-shortfall" target="_blank">read more</a></p> Articles MRC Business Government biasedaccounts bush Cato entitlements FinancialCrisis franklind.roosevelt IOUs JimCramer KeithOlbermann MichaelCannon MiddleClass mises.org obama payrolltaxes Ponzi Retirement SocialSecurity solvency taxcuts Wed, 11 Aug 2010 21:14:00 +0000 admin 27136 at http://www.mrc.org