Business Week asks: Is Social Security a Ponzi Scheme?
Of course people have made this observation for DECADES, but as in the story of the “Emperor’s New Clothes”, it took someone politically incorrect to shout out the facts so that suddenly everyone recognized the truth.
People have been shouting that the “Emperor has no clothes” and that Social Security amounts to a generational ponzi scheme for years.
It’s only now in light of the Madoff making off with $50 Billion in his ponzi scheme that some at Business Week can’t help but consider that Social Security bears an sinister resemblance.
Of course Business Week wouldn’t be so crass as to admit it’s all a sham… just plead for more technological advancement to keep the scheme in play until we all retire.
Given that huge amounts of the entire Federal Budget pays for entitlements like “Social Security” and that number skyrocket to over half of the Federal Budget in a few years, it may not be possible to “innovate” our way out of the disaster caused by promises which can’t be kept.
Work at home businesses – self employment – extra income… these are all important strategies to help you stay afloat should Social Security come screeching to a halt.
Related Link: I.O.U.S.A.: One Nation. Under Stress. In Debt.
No comments yet.