January 18th 01:21:25 PM

In his op-ed that appeared in today's Wall Street Journal, Armey says "Social Security reforms that turn empty promises into personally owned accounts -- real assets for retirement -- cannot be funded under paygo without massive tax increases or deep reductions in promised benefits. In effect, paygo makes serious entitlement reform politically impossible without a word of debate."

Additionally, he highlights another important factor that is also dooming the Social Security system, the fact that Congress is spending the Social Security surplus. Armey points out  that "Meanwhile, as surplus payroll tax dollars currently diverted into other spending programs continue to disappear, the pressure on the deficit will become insurmountable."

S4 Action Network