Republican Congressman Spencer Bachus hopes that Democrats notice that big turd floating in the punchbowl sometime soon. Because they’ve been ignoring it for years.
“Social Security could face default within two years,” he said. “The situation is much worse than people realize, especially because of the problems brought on by the recession, near depression.”
“…People don’t seem to know that,” he continued. “What this recession has done to Social Security is pretty alarming.”
“We’ve known for 15 years that we were going to have to make adjustment to Social Security, but we still thought that was seven or eight years down the road. But if things don’t improve very quickly, we’re going to be dealing with that problem before we know it.”
And with that we take you back three years to President Bush’s State of the Union address when Democrats cheered the defeat of social security reform. Just look at the maniacal look on Hillary Clinton’s face. That says it all.
When will Obama appoint a Ponzi Scheme Czar to study the problem?
Source: Tuscaloosa News
