Comments on: Social Security Bankrupt: It’s Getting Worse

By: David Dzidzikashvili

David Dzidzikashvili — Fri, 20 Aug 2010 19:53:42 +0000

Social Security program in the United States is a government-run Ponzi scheme. No Ponzi schemes ever produce positive results at the end (too many facts to list) as it is dependent on constant/continuous and growing/ever increasing cash flow. Once the cash flow is stopped or slowed, whole Pyramid structure collapses… That’s what happened to Madoff and that’s what’s happening to Social Security system in the United States…

Social Security will be cash-negative this year. Social Security hasn’t been cash-negative since the early 1980s, when it came so close to running out of money that it was making plans to stop sending out benefit checks. And what did the Congress do? As always, the old trick (and quite stupid as it does not address any long-term sustainability issues) on the books – Trim the benefits and raise taxes!!!

So what’s next – Social Security Bailout or Bankruptcy? Is social security too big to fail?

Right now raising taxes will have catastrophic results on the middle class American families and economically this is not viable at all, since we need to get the middle class stronger, make sure the middle class has more money in the pocket to spend.

Trimming benefits – how many benefits can you cut to make sure the Social Security system is sustainable and viable? Quite controversial question for anyone…

Again…

So what’s next – Social Security Bailout or Bankruptcy? Is social security too big to fail?

By: admin

admin — Fri, 19 Mar 2010 03:11:41 +0000

@ Di,

I am not planning on receiving much in the way of benefits, unless I die young and my wife and kids get them. I am mostly insulted by how stupid the SSA must think I am every year when they send me their report on how terribly they are managing their assets, while at the same time taking the time to lecture me about saving for retirement. As far as your end of the world scenario, could happen but probably a long shot.

By: DI

DI — Thu, 18 Mar 2010 23:53:24 +0000

If you are 30, you should never plan on any sort of Government programs. Not in this age and time. Get prepared for what is coming to us all – these crooks in DC will NOT stop until it’s too late.

But by than – military on streets, martial law, administered food resources (people in lines in cities) with food coupons.

Don’t get me wrong – I don’t want any of these… But INTUITION never fails me… Even though I try to bring positive energy out to the world.

Take care of yourself and your family first. Than your friends and neighbors. People who have employment “income” are in much worst shape – they still HOPE for CHANGE. They are still brainwashed via TV.

By: admin

admin — Sat, 13 Mar 2010 23:26:38 +0000

The response that you won’t take benefits because you hate the program is a pretty hollow response. In my opinion, getting $.76 back for every dollar given isn’t a benefit. I am not being “given” anything. I am reducing the amount that is being taken from me by choosing to take these benefits if they are even there for the taking.
admin´s last blog ..Social Security Bankrupt: It’s Getting Worse

By: VH

VH — Fri, 12 Mar 2010 19:31:55 +0000

If you even breach the topic of reforming S.S. with liberals, you will get the usual fascist response–”So you won’t take benefits since you hate it so much.” Mind you, some of the countries that liberals love to hold up as successful welfare states–like Sweden–have personal retirement accounts.
This ponzi scheme will not end well.
VH´s last blog ..Where are the jobs?