Nicholas Chopiak – 2/26/09

This page was last updated on February 26, 2009.

Don’t buy alarms on Social Security; Nick Chopiak; Beaver County Times; February 26, 2009.

Below is a detailed critique of the subject letter.

“Once again, we have a push to fix entitlements, falsely claiming Social Security is bankrupt, that the pay-as-you-go system is insolvent and that baby boomers are the problem.

“All negative ideas on Social Security are blatant lies.”

[RWC] Translation: See no evil, hear no evil, and speak no evil when it comes to Socialist Security.

“The fear factor: Making the public believe the sky is falling makes it easier to privatize Social Security and exploit the present surplus of $2.5 trillion in the trust fund — and growing.”

[RWC] Who’s planning “to privatize Social Security?” Even President Bush’s proposal in 2005 didn’t attempt “to privatize Social Security.”

“[T]he present surplus of $2.5 trillion in the trust fund?” The SS “trust fund” exists only on paper. Does Mr. Chopiak not know the SS “trust fund” is simply a stack of IOUs (Treasury bonds) from the federal government? There is no pot of gold, or dollar bills.

“Reports by the trustees claim that if nothing is done it can make all benefits until 2041.”

[RWC] At which time Socialist Security becomes bankrupt. Mr. Chopiak thinks this is OK?

Socialist Security goes into deficit (benefits paid exceed taxes collected) in 2017.

As a reminder, without changes, the 2008 Trustees report shows Medicare goes into deficit next year (2010) and will be bankrupt in 2019. Does Mr. Chopiak believe Medicare is OK too?

“Then why fix it? The politicians want to dismantle Social Security and get their hands on the existing $2.5 trillion. Plus, with privatization of Social Security, the government could default on the U.S. bonds held by the trust fund that are due in 2017.”

[RWC] Again, “the existing $2.5 trillion” (assuming that figure is correct) is nothing more than a stack of IOUs (Treasury bonds) from the federal government.

“Also, well over $1 trillion has been siphoned from Social Security, and that would not be paid back.

“I have written U.S. Sens. Arlen Specter and Bob Casey and U.S. Rep. Jason Altmire several times, only to be stonewalled. Perhaps we should stonewall them at the voting booth.”

[RWC] If you’re familiar with Mr. Chopiak’s body of work, you know he’s fond of using the word “stonewall.” As I noted in a previous critique, I believe it’s stonewalling to Mr. Chopiak when he gets a response he doesn’t like.