Thursday, October 21, 2010

Social Security Stalemate

Social Security is a budgetary trick that is virtually indistinguishable from a Ponzi scheme. Workers pay in, theoretically so that they will have something to take out when they retire. However, this money doesn't go into a lockbox. It goes straight to current beneficiaries.

There is no Social Security Trust Fund. There was supposed to be, but it ended up getting spent by our government. In it's place are billions in Treasuries, which when the time comes to cash them in, our broke-ass government will just print some more dollars, making those T-bills effectively worthless.

Social Security is broke, and any attempt to fix it is met with FIERCE liberal rhetoric, even though they bring no ideas on how to fix it themselves.

Bush's attempt to privatize Social Security went down in flames. Current Republican reforms are being met with cries that they are killing Social Security, and that they want old people to live in abject poverty.

The funny thing is, these attempts are actually trying to save Social Security, while the Left simultaneously sits on their hands and puts their fingers in their ears while Social Security sinks deeper into the red.

The time of Social Security reckoning will come, and we will know who really brought the pain.

Of course, both sides will continue to play the shell game. Once the program hits the wall, the Right will call for reforms and blame the Left for spending too much, and the Left will say the Right wants old people to live in the streets.

But we are catching on to their game.

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