Tuesday, September 22, 2009

It’s Official: Social Security is a Ponzi Scheme

Hot Air has an important scoop this morning. The CBO has reported to Congress that Social Security will run a deficit in 2010 and will be likely running permanent deficits by 2017. If you, like me, suspected Social Security is the world’s largest Ponzi Scheme, you were right.

Time and time again, forward-looking leaders have warned us that Social Security needed reform to remain solvent. But Democrats, time and time again, chose to demagogue Social Security for political gain rather than reform it. And, understandably, most Republicans learned to be afraid to touch the issue due to the success of the demagoguery. (Like him or not, President Bush the younger was exceptional in trying to tackle the issue.)

And, yes, Obama is one of those Democrats as I noted during the campaign.

Who cares if future generations are left holding the bag? Who cares about the truth? It’s all about winning the next election.

And don’t get me started on AARP. Their slogan through the years might as well be “Screw the grandchildren. Show me the money!”

Well, it looks like AARP and Democrats have succeeded in screwing our children and grandchildren for political gain. Congratulations.


Kevin said...

Don't worry, they will move-up the racketeering ladder to extortion and embezzling to make-up the difference.

Pensions and retirement plans and accounts will be taxed and or raided to help keep Social Security in the black and any who oppose it will be vilified.

It is amazing to me that when the issue of social security reform comes-up, every Democrat interviewed on the subject has a poor grandmother reduced to eating Alpo to keep from being tossed to the curb and anyone who wants to help reform it is an evil agent of Wall St. Yet these same Dem's haven't paid a time into the system since the days of working at the college bookstore.

If they want to save money they should crack-down on the fraud and easy payouts to every slacker and malingerer who goes on SSDI (Social Security Disability) at age twenty-five or those who keep their parents mummified remains in the attic so the checks keep coming (advice that probably came from ACORN).

Marie Blocher said...

And all the assets it has are invested in Treasury notes....

It and its assets were put "On Budget" during Reagan's reign to cover some of the deficits run up by him and the Prez that came after him.