Wednesday, September 14, 2011

Nearing the end of the Social Security ponzi scheme

A ponzi scheme is where a program or con must depend upon future contributions to pay those who contributed earlier in the game.  ie... because the US government spent over $3 trillion from the Social Security trust fund in the past 4 decades, the only way it survives is by taxing todays generation of workers.

A new report by the Census Bureau however, shows that the jig is almost up as the amount of people working comes out to a ratio of 1.75:1 for every recipient of government largesse.

There were only 1.75 full-time private-sector workers in the United States last year for each person receiving benefits from Social Security, according to data from the Bureau of Labor Statistics and the Social Security board of trustees.
 That means that for each husband and wife who worked full-time in the private sector last year there was a Social Security recipient somewhere in the country taking benefits from the federal government. – The Patriot Update
So soup for you!
We can all thank the Baby Boomers who proudly voted in scoundrels to propagate the never ending growth of the welfare system.  Now however, as they retire, the younger generations may seek to exact their revenge in a soon to be economic class war.

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