John Stossel: "Ponzi! Ponzi! Ponzi! There, I said it. To the extent people believe there are trust funds with their names on them, Social Security is absolutely a Ponzi scheme. So is Medicare. People need to hear it."
Michelle Malkin: "Obama's Big Green Boondoggles."
"Night of the Keynesian Dead"? I love it.
3 comments:
I'm sorry, but if SS is a Ponzi scheme, it didn't start out that way. The government was NOT supposed to take the SS funds and spend them, leaving an IOU in the lockbox. That it has turned out that way can be blamed on the corruption in D.C. that could not keep its hands out of the till..."We have plenty of time to put the money back, don't we. boys?" Oh, yeah, sure. Like someone else can do that, after we crooks are long gone.
Well, in that popular phrase, the chickens have come home to roost, and Col. Sanders is waiting with his cleaver.
Naaaaa, if they kill off the old people and deny services to others, while controling the money and resourses and of course production, cutting a little piece out for themselves of course, they'll be able to do it.
At least that's what their media will be telling us, at every opportunity, like they are now about every Marxian activity they're doing. Incessantly.
Ever read "Catch-22" or see the movie? Every time the flight crews would get close to rotating home the brass would increase the number of missions required. My parents' "full SS retirement" age was 65. Mine is 66. My kids' will be.... what?
The difference between Mr. Ponzi's scheme and SS was that Ponzi's was voluntary, not run by the government, and he couldn't create money out of thin air to fund it.
FedGov says SS is an insurance plan, not a Ponzi scheme. But if Prudential or MetLife was running an insurance plan like SS somebody would be headed for the cell next to Bernie Madoff.
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