A Wall Street Journal analysis found that a 22-year-old in 2011 would have accumulated over $800,000 by retirement if the Bush 2005 Social Security partial privatization plan had passed, using actual S&P market returns.
Where this was said
At 50:50 · chapter starts 47:50
After warning listeners that the DSA's media allies are trying to soften their image now that they've won elections, Bongino plays a recent clip of Hasan Piker — the progressive streamer with millions of followers — claiming that DSA candidates just want healthcare and roads, and that calling them radicals or terrorists is unfair. Producer Justin then assembles a counter-clip package of Piker's archived statements, which Bongino watches for the first time on air. The reel includes Piker calling for landlords to be killed in the street, saying he would vote for Hamas over Israel 'every single time,' arguing the premise of October 7th as an intentional antisemitic massacre is 'incorrect,' and stating 'America deserved 9/11.' Bongino's reaction is raw and genuine — he had not seen the compilation before air. He frames it as definitive proof that the 'healing' narrative is an intentional rebranding effort.
Hasan Piker says he just wants healthcare and to end American militarism. A compilation of his archived statements tells a different story: advocating killing capitalists, saying he'd vote for Hamas over Israel every time, and stating America deserved 9/11. This is the media face of the movement that just won multiple elections.
A Wall Street Journal counterfactual shows that a 22-year-old in 2011 who could have invested just $83 per month under Bush's partial Social Security privatization plan would have accumulated over $800,000 by retirement, using actual S&P 500 returns. Instead, the government spent that money and replaced it with IOUs it can't redeem by 2034.
Bongino states that Social Security's own actuaries have projected the program will exhaust its trust fund IOUs by 2034, calling it effectively bankrupt now.
The Wall Street Journal Social Security counterfactual used the S&P 500's historical 10% average annual return as the baseline for calculating what workers could have accumulated under Bush's partial privatization plan.
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