Here.

(The Snopes link was dead.)

It is important to note the size, scope, and power of the Federal government at the time this letter was written (1954).

The Federal budget, in constant dollars, was less than a fifth of its current size.

The Social Security outlay, adjusted to current dollars, was around $40 billion. Note that this number will crack the trillion-dollar mark by 2017.

Payroll taxes at the time were 4 percent (2 percent each from employee and employer), and 3 percent for the self-employed. These numbers have tripled today, and keep in mind that this is not a progressive tax. This 4 percent tax rate produced a comfortable surplus for the program.

Back then, Federal education spending was almost nil. Until the interstate project, the Federal Highway Department was primarily concerned with roads into national parks.

I could go down a long list of differences between Federal government in 1954 and what we have today. Some of it is the result of demographics, but most is the result of decades of "mission creep" for the Federal government. I suspect if Eisenhower could get a look at 2013, he might still not have agreed with Hunt, but he might have written things a bit differently.