[Cincinatus' Wife]

Tried to give an essence of the article (hope I didn't butcher it too much for you not to want to read it in full).

I'd like your thoughts.

Thanks.

[FromTheSidelines]

Note:

To unpack this a bit, the Social Security administration is currently taking in tens of billions of dollars more from payroll taxes than it is sending out in Social Security checks. The difference is lent to the Treasury Department to finance other government programs.

This isn't actually true - the Social Security program has been paying out more than it takes in since mid 2010. It's already forcing "redemption" of those special bonds - meaning 100% of the incoming taxes for Social Security, and a chunk of other Federal tax revenues, are now used for Social Security.

Medicare's been that way since May 2009. Both these Ponzi schemes are imploding now - and it's only by the Government's ability to tax and cover with other funds that they haven't collapsed.

[95B30]

Better yet, just get the hell out of my way and I will worry about my retirement! Don't tell me I have to save X amount. If I don't then I will be working for a lot longer then I did. Simple as that! The level of savings in good old fashioned savings accounts would be a big boost to the economy and would make the banks more interested in doing right by their depositors rather then the government!

[danamco]

They did it in “Perry-land” and he calls SS a Ponzi scheme!!!

http://www.mackinac.org/1502