Johnson Decries National Debt, Social Security Solvency During Tour

U.S. Sen. Ron Johnson, R-Wis., concluded a series of what he described as “State of the Nation” presentations on Monday, where he warned of dire consequences because of the national debt and Social Security funding.

At an appearance in Antigo, Johnson said the country’s national debt will reach $127 trillion dollars in 30 years — a figure that he said was unsustainable.

“Do you realize what we’re doing to our kids? The inter-generational theft?” he said. “I don’t know a parent or parents who would willingly drive up their personal debt, and max out their credit card, never intending to pay it off.”

Johnson said that Social Security was headed for insolvency. He doubled down on his earlier description of it as a Ponzi scheme.

“A Ponzi scheme is illegal,” he said. “When the government runs a Ponzi scheme, it’s legal. So, the correct term would be a legal Ponzi scheme. Now, I take no pleasure in saying that. It’s sad, it’s unfortunate, but it’s true.”

Johnson said he wanted to look at all possible solutions for Social Security funding, but he was skeptical of one suggestion: Raising the cap on Social Security taxes for the rich.

“The Social Security payroll tax right now is 12.4 percent of income. You start lifting the cap on that and that’s going to be very penalizing … You’re not going to raise the revenue you think you’re going to raise,” he said.

The senator said that anti-poverty programs had unintended consequences, encouraging single women to have children out of wedlock and not get married.

“She wants to increase the dollar value of the benefits she receives from the state and federal government, what’s one of the things she can do?” he said.

“Have another kid,” an audience member said.

“Out of wedlock,” Johnson said. “If she wants to lose it all? She’ll find a young man that can support her. They’ll form one of those intact families that we know keep people out of poverty, and she loses it all.”

Johnson said the “root problem” facing the nation is the “size, scope and regulations of government.”