[Cicero]

The Ponzi scheme coming home to roost. I have a clue for this idiot. Most "greedy grandparents" paid through the nose for social security for forty years and more, and got back far less than if they had put the money in a private retirement account.

It's not their fault. It's the fault of FDR and all the greedy politicians ever since who wanted to give the voters a chicken in every pot but didn't want to pay for it.

What we do now, I don't know, because most of the mischief was done by politicians who are now dead.

[Joe Brower]

"The Ponzi scheme coming home to roost."

Yes. Sooner or later, the bill comes due. That time is rapidly approaching.

However, if you feel so sympathetic to those who paid into SS for so long and will get back less, imagine how my generation feels, who will have paid into it for over FIFTY years, and won't see a single dime.

[pogo101]

Most "greedy grandparents" paid through the nose for social security for forty years and more, and got back far less than if they had put the money in a private retirement account

Do you have any hard data to support that assertion? I seem to remember reading that the return is pretty darned good for those who live past their early 70s (at which point it's a break-even of sorts).

Whether or not you have hard supporting data, your statement doesn't justify the just-passed vampiric bloodsuck drug entitlement.

[vetvetdoug]

Ponzi Scheme is right and my generation is on the ground floor of the pyramid that is going to get screwed.

[Atlas Sneezed]

Most "greedy grandparents" paid through the nose for social security for forty years and more, and got back far less than if they had put the money in a private retirement account.

---

No kidding. However, those who are supporting them will get a far worse deal. Just because the current retirees merely got only somewhat more than their money back does not mean that they aren't living off the next generation who will never even break even, let alone come close to private investment growth.

[sphinx]

It's not their fault. It's the fault of FDR and all the greedy politicians ever since who wanted to give the voters a chicken in every pot but didn't want to pay for it.

Not exactly. On the Social Security issue, three generations of Americans have systematically elected liars and defeated truth tellers. Future generations are under no obligation to redeem the corrupt bargains made by their predecessors.

[Orange1998]

I agree this article is full of crap.

[RamingtonStall]

The Current Day Politicians are every bit as bad as any we have had for the past 60 years.

Let them pay first by forfeiting their Pensions and then I will be happy to retire later and do without Social Security.

RamS