Trump Labor Statistics Pick Called Social Security a 'Ponzi Scheme' That Should Be Shuttered [View all]

[CousinIT]

https://www.commondreams.org/news/trump-labor-statistics-pick-called-social-security-a-ponzi-scheme-that-should-be-shuttered

"Bureau of Labor Statistics data is what determines the annual cost-of-living adjustment for Social Security benefits," said Rep. John Larson. "It should alarm everyone when a yes-man determined to end Social Security is installed in this position."

U.S. President Donald Trump's pick to replace the top labor statistics official he fired earlier this month has called Social Security a "Ponzi scheme" that needs to be "sunset," comments that critics said further disqualify the nominee for the key government role.

During a December 2024 radio interview, Heritage Foundation economist E.J. Antoni said it is a "mathematical fiction" that Social Security "can go on forever" and called for "some kind of transition program where unfortunately you'll need a generation of people who pay Social Security taxes, but never actually receive any of those benefits."

"That's the price to pay for unwinding a Ponzi scheme that was foisted on the American people by the Democrats in the 1930s," Antoni continued. "You're not going to be able to sustain a Ponzi scheme like Social Security. Eventually, you need to sunset the program."

Rep. John Larson (D-Conn.), one of Social Security's most vocal defenders in Congress, said Antoni's position on the program matters because "Bureau of Labor Statistics data is what determines the annual cost-of-living adjustment for Social Security benefits."

"It should alarm everyone when a yes-man determined to end Social Security is installed in this position," Larson said in a statement. "I call on every Senate Republican to stand with Democrats and reject this extreme nominee—before our seniors are denied the benefits they earned through a lifetime of hard work."