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To: American Dream 246

The increases in our national debt related to growing deficits surely are of concern. But what MSM doesn’t appear ready or willing to explain is that leaving aside the DEFICIT, our unfunded social insurance obligations grow by about $3 trillion every year. These are not booked as annual budget deficits since they represent future rather than past obligations, but they nevertheless are very real. After all, would taxpayers willingly pony up 15.3% of their wages for SS and Medicare if they knew that when it came time for THEM to receive such benefits, Uncle Sam would elect to cut them back drastically (i.e., 30-40% or more)?

Thus, the Ponzi schemes called SS and Medicare work ONLY so long as there are enough suckers to keep dumping money into the pot. Once they wise up, the whole game goes bust. And when that happens, the Congress critters who have sat on their hats doing nothing to head off this tsunami better head for the hills.


42 posted on 03/06/2010 1:56:00 PM PST by DrC
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To: DrC

Yup. The sad truth is that it may already be too late. We may not be able to fix it anymore without massive social upheaval, just to try and avoid complete economic collapse later.


52 posted on 03/06/2010 2:43:36 PM PST by The Pack Knight (Duty, Honor, Country)
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