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https://www.fedsmith.com/2013/10/11/ronald-reagan-and-the-great-social-security-heist/ Ronald Reagan and The Great Social Security Heist

Ronald Reagan was one of the most popular presidents in modern history. As a former Hollywood actor, he had an uncommon degree of charisma.

The conservatives absolutely loved Reagan for his efforts to reduce the size of government, but most liberals hated him with a passion. Reagan is still revered by a lot of Americans. This reverence for Ronald Reagan helps to explain how he was able to fool most of the American people to a degree unparalleled by any other modern president.

With the help of Alan Greenspan, Reagan pulled off one of the greatest frauds ever perpetrated against the American people.

On April 20, 1983, the signing ceremony for the new legislation took place with great fanfare. Below are some of Reagan’s remarks at the signing ceremony.

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In addition to the long-term problem of the baby boomers, the Commission found a possible short-term problem for the years 1983-89. But the outlook improved and became favorable for the 1900s and early 2000s. The possible minor problem for the years 1983-1989 was based on very pessimistic economic assumptions. So, at the time Reagan informed Congressional leaders that Social Security was teetering on the edge of bankruptcy, the actual condition of Social Security funding was fairly sound for the next two decades.

Furthermore, Social Security was certainly not Reagan’s “highest priority.” Reagan had never been a friend of Social Security. He was a hardliner when it came to all government social programs. He called unemployment insurance “a prepaid vacation plan for freeloaders.”