Here we go again.
Americans have got to understand that we are paying present-day retirees with the taxes paid by young workers in America today. And that's a disgrace. It's an absolute disgrace and it's got to be fixed.
In other words, the way Social Security has worked for more than 70 years is a disgrace.
Maybe I'm taking this out of context? Nope, see for yourself.
Maybe he just misspoke? Maybe he meant to complain about how current workers may not be able to collect 100% of their benefits? Then why did he say the same thing the next day to John Roberts on CNN (emphasis added):
On the privatization of accounts, which you just mentioned, I would like to respond to that. I want young workers to be able to, if they choose, to take part of their own money which is their taxes and put it in an account which has their name on it. Now, that's a voluntary thing, it's for younger people, it would not affect any present-day retirees or the system as necessary. So let's describe it for what it is. They pay their taxes and right now their taxes are going to pay the retirement of present-day retirees. That's why it's broken, that's why we can fix it. We can do it together, republicans and democrats alike.
"John McSame" indeed.