Government-run Ponzi Scheme

The problem with all Ponzi schemes is that they all eventually come crashing down.

Conservative Reform Network has an excellent post about the biggest Ponzi scheme the world has ever known: Social Security.

From the post by Bob Guzzardi:

Fewer people are working, therefore, fewer people contributing to Social Security and it appears that Social Security goes into deficit next year. As I recall, the deficit day had been sometime in 2017 or 2918. Because Social Security overpayments, which were not segregated, were financing General Fund, this means higher deficits and more debt. Treasury pays Social Security phony trust fund as early as 2017 and that means higher taxes which, in turn, means less money for saving and investment and slower growth, fewer jobs and the spiral continues.

Read the full post, "Social Security: There Is No Trust; There Is No Fund," here.