President Participates in Class-Action Lawsuit Reform Conversation: "Some in our country think that Social Security is a trust fund -- in other words, there's a pile of money being accumulated. That's just simply not true. The money -- payroll taxes going into the Social Security are spent. They're spent on benefits and they're spent on government programs. There is no trust. We're on the ultimate pay-as-you-go system -- what goes in comes out. And so, starting in 2018, what's going in -- what's coming out is greater than what's going in. It says we've got a problem. And we'd better start dealing with it now. The longer we wait, the harder it is to fix the problem."

Either The President is a moron, or he is a liar and a thief. Take your pick. This statement violates a number of ethical and moral principles not to mention constitutional requirements he has sworn to uphold, namely that the public debt of the United States shall not be questioned. The working taxpayers of the United States have been overpaying their payroll taxes at the direction of Congress based on the Greenspan committee's plan enacted into law in 1983 to build up reserves in the social security fund to provide for the retirement of the 'baby boomers', who are the bulk of the ones paying into the system. To deny that this is the case is thievery. It is the same thing done by companies like Enron. It is raiding the pension fund. He is right though, that there is a looming crisis in the general fund to repay the staggering debt that has been accumulating since he took office. And it appears he is proposing that we simply ignore it away and refuse to pay it. Mind boggling.