I’ve been saying for years that the Social Security scam is a giant Ponzi scheme. If anyone tried this in the private sector they would go to jail, like Bernie Madoff. The Social Security con makes him look like a piker. Lyndon Johnson moved the Social Security Trust Fund into the overall budget. The Social Security payments then allowed politicians of both parties to mask the true size of the budget deficit because Social Security was taking in more money than it was paying out. Not anymore. The Social Security chickens are coming home to roost. Medicare is the same way. There is no money in the Medicare Trust Fund either.
This con is similar to Obummercare. The Dims started collecting taxes to pay for Obummercare four years before the rest of it would kick in to mask the true cost of Obummercare and claim that it wouldn’t increase the deficit. They lied about the true cost of the “Affordabe” Care Act so they could pass it. Dimocrat politicians lying. I’m shocked! But then, it’s OK for liberals to lie because they’re doing stuff for to us for our own good. It’s only bad when Republicans lie because they are eeeee-vil and don’t care about the poor, seniors, and minorities.
In the comments of a previous post, TalkinHorse shared this analogy he read somewhere else.
The Social Security Trust Fund is one of my pet peeves. I heard an analogy: Suppose you want to save for retirement. So every Friday you get paid, and you immediately take $10 out of your salary and put it in a box. But on Wednesday you run out of cash, so you open the box, take the $10 out, and put in a piece of paper that says “I.O.U. $10″. That gets you through the week. When you finally retire, you’ve got a box full of I.O.U.’s. Good luck.
The Social Security Trust Fund is a file cabinet filled with Treasury securities. In other words, an I.O.U. from the government to the government.
That’s alright. The Federal Reserve will just print more money and use it to buy those IOU’s. Problem solved. Wait! What?
“We’re what … ?”, as my friend Michael asks me every time I see him.
We’re doomed!
But we did elect our first halfrican president and he’s hip and cool and can read words written on a TelePrompTer, unlike that bumbling oaf, Chimpy McHalliburton Bushitler. Have the seas stopped rising and is the planet healing like Obumbler promised?
And, of course, this also raises the question: How’s Peggy Joseph doing? Does she still have a car? Does she still have a house? Does she still have health insurance? How’s she doing with Obummercare? Wouldn’t it be great if she lost her house, her car was running on empty, and she lost her health insurance? Now there would be a big fat dose of Schadenfreude! I’d laugh my ass off about that.
Poor Peggy. To go through the rest of your life being known as the blinded idiot, being documented on film, praising the biggest mistake to come this country’s way. I’m sure it would all be Bush’s fault.
Also worth a note…since Social Security has its own accounting and trust fund, it should in theory be insulated from whatever else is going on in the government. That’s what we were told over the years, anyway. But in one of these recent debt spats, Obama warned that the Social Security checks would cease if the Republicans didn’t raise his debt ceiling. Which was a naked acknowledgement of what some of has had known all along, but the government had always denied: The “trust fund” wasn’t worth a damn, and it gave us no protection at all.
I propose we create an actual “Evil Republican” party that wants to take money from poor people and minorities and give it to the wealthy and corporations.
We’ll propose the policies that the Democrats favor. 😀