It's just as well
I'll be waking up in heaven
'Cause I've been through hell
On this shakedown cruise
--Jay Ferguson
Dan Mitchell is correct. Social Security is a ponzi scheme that would find its execs behind bars were it a private sector endeavor.
Estimated cumulative shortfall is currently north of $42 trillion. The 'fund' will run out of money by 2035.If a private pension fund tried to operate like Social Security, its executives would be thrown in prison for running a Ponzi Scheme https://t.co/GbnS0lktlH— Dan Mitchell (@danieljmitchell) April 23, 2019
Meanwhile, Washington hypocrites will continue baling water from the sinking SS Ponzi.
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1 comment:
SS is worse than a ponzi scheme. At least in a ponzi scheme the money to pay each tier comes from newly invested funds of volunteers, whereas in SS that money has already been spent, and the monies paid out come from debt assigned to children of the next set of involuntary enrollees in the program.
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