Monday, September 12, 2011

Not enough new suckers

Whenever someone says "don't worry about Social Security. It's fully funded to 2035," I wince.
Sorry buddy, but that money was spent 30 years ago.
Ace has the reality check.
Seems kind of worse than a Ponzi scheme -- in a Ponzi scheme, at least, it is hypothetically possible you can find new suckers and keep the boondoggle running. In the case of Social Security, it has long, long been known as an absolute mathematical fact that there were not enough new suckers in existence to make it work.

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