Posted on 09/09/2011 8:11:32 AM PDT by shield
I agree it is becuase of decades of Congressional mismanagement of the trust fund which brings us this crisis now instead of later. I disagree with you in that I think SS always has been a Ponzi scheme. Our demographics made it work for a while. In 1950 there were over 16 worker per retiree, now there are three and the number is dropping as more boomers retire. http://www.independent.org/pdf/SocialSecurityPrimer.pdf
It stinks for people like us that this is happening in the next few years but it is the way classic Ponzi schemes usually end; they run out of new investors.
I just ordered my copy of Rick Perry’s FED Up from amazon this morning!
Thanks DRey for the online preview!
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