Our Threatened Freedom

Is Social Security In Trouble? (03:21)

R.J. Rushdoony

Transcript:

R.J. Rushdoony: 00:01 Is Social Security in trouble? This is R.J. Rushdoony with a report on our threatened freedom. It is very difficult these days to discuss Social Security without arousing unreasoning fears in people, if you say as one must let, Social Security is in serious trouble. People at once accuse you of trying to cut them off from a living. Most politicians are afraid to face the problem honestly because 20% of all voters are over 65 years of age and their percentage is increasing.

R.J. Rushdoony: 00:41 Social Security costs are going up for the working man. Already more than half of American families pays less in income tax, which is all too high than it does in Social Security deductions. At the same time, Social Security is in the red and is sinking fast. In fact, as Arlo Sederberg wrote recently, and I quote, “With the graying of America, one of the ticking time bombs in the money war is the Social Security system which could make the troubles of Chrysler and International Harvester seem like child’s play,” unquote.

R.J. Rushdoony: 01:23 The problems of Social Security are many. First, it is totally political created by politics for political purposes. As a result, it is not, nor has it ever been operated in terms of economic priorities. You and I have to run our affairs in terms of sound economics, but an essentially political program feels no such compulsion. If a private pension or insurance company operated in the same way as Social Security, it’s officers would be taken to court.

R.J. Rushdoony: 01:59 Second, Social Security masquerades as an insurance plan when it has become instead a welfare program. As a result, it is in serious economic trouble. The reason for the shift from an insurance door welfare approach has been political. Third, the federal government has created inflation, and as a result it has seriously damaged Social Security and the income a man anticipates from Social Security at 35 becomes worth very little by the time he is 65. What is the solution? Perhaps Social Security an be reformed, but the problem with that is that every time congress meets the reforms can be altered. Perhaps Social Security can be turned over to private insurance and pension plan, but federally created inflation is damaging these also.

R.J. Rushdoony: 02:58 At any rate, we are urgently in need of a thorough restudy of Social Security. We owe it to the future of our country, our economic safety, and the welfare of millions of older people to do so. This has been R.J. Rushdoony with a report on our threatened freedom.