MAMEWorld Forums - The Loony Bin - Re: Obama admits US government is a Ponzi scheme

> Well, when Social Security was drafted, the social security money was supposed to
> "sit" to be distributed someday. Now, if private corporations used a pension fund for
> anything else but the pensions, that would be "conversion" which is akin to
> embezzlement, and people go to jail. But the government can break the law (and often
> does), so they spent the money on God knows what, so here we are, trying to squeeze
> new young workers to pay for the old workers, and ponzi etc blah blah yadda.

Social security was always a Ponzi racket, though. They knew that from the start. It only worked for as long as it did because when the baby boomers were in their prime, the ratio of people paying in to those cashing out was extremely favorable. Now that the boomers are cashing out, the ratio has gone the opposite way and the program is doomed. Politicians raiding the piggy bank has hastened its demise for sure, but it was going to happen eventually anyway.

> For this reason, what with the debt limit crisis etc. I say "stand your ground"
> against ANY tax hike, the government CAN'T manage money worth a damn, so the less the
> government collects the less it can mismange and squander. If we can't afford
> something (services, entitlements, grants to artists who want to squirt paint out
> their ass)... that's the tough reality of living in reality.

I'd be more on board with this if I believed the cuts were going to be across the board. But most politicians' idea of fiscal responsibility is axing the things that peons like you and I might benefit from, while they're busy creating loopholes so their rich buddies can continue cashing in.