Tedspick

Social Security: A Ponzi Scheme?

The view looks different from inside SS than from outside. If I were an administrator of SS I would say, "look at all these government bonds I have! no problem! I can continue sending checks to recipients after SS tax income is less than what we owe to retirees". The problem occurs when I try to cash in that bond. The money is not in a bank account, in fact it is not even sitting in a Fed account. Instead I take the bond to congress and THEY must get the money from the tax payers all over again or ask the Fed to crank up printing presses. Even though we already sent in excess SS taxes, the Government took that excess money and spent it, replacing it with these so-called "bonds". That's why SS is like a Ponzi scheme. The "trust fund" is just so many pieces of paper warning tax payers to BEND OVER!..... AGAIN!