Roosevelt would surely be proud of this, and yet he might also have reservations. Social Security has evolved into something he never intended and actively opposed.Social Security's shift from a kind of savings plan to outright generational theft took decades, starting from an override of FDR's veto over payroll taxes. The shift from Obamacare's always-specious claim of "budget neutrality" was far, far briefer.
It has become what was then called “the dole” and is now known as “welfare.” This forgotten history clarifies why America’s budget problems are so intractable.
Thursday, August 14, 2014
Thus always to entitlements
The Washington Post's Robert Samuelson has a great article about how Social Security has been gradually shifted over the years to the point where it now violates the principles that FDR once insisted upon: "Would Roosevelt recognize today's Social Security?"