- The Washington Times - Wednesday, July 20, 2011

ANALYSIS/OPINION:

What we’re seeing with President Obama’s declaration that Social Security payments may not go out in August is the final act in the Ponzi scheme known as FICA (“Obama: Without deal, no guarantee of Social Security checks Aug. 3,” Web, July 12).

Ponzi schemes always end this way. Taxpayers paid their payroll deductions in cash to the federal government, yet the federal government now claims that the $2 trillion-plus in the Social Security Trust Fund is not in cash and they don’t actually have that money on hand. This should be the beginning of the death throes of socialism, American style.

Mr. Obama and his administration are now desperate to continue the progressive huckstering that has been going on for a hundred years. The righteous stand the GOP has finally taken in saying no is proof that Mr. Obama and his political fortunes are also coming to an end. Thank goodness - no more looting the U.S. Treasury.

AL QUARTARARO

Virginia Beach, Va.

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