Quote:Going fine really?


They've openly admitted they don't have the money to pay out in the near future. So at some point people that have been forced their entire working life to pay in will get squat. That's the thing with Ponzi schemes eventually the well runs dry and the sap at the end gets shafted


Government isn't saving that money for you their using it to fund operations and sticking an IOU in your back pocket.


Going fine, that's funny

 

No argument about the looming insolvency of the program.  

 

That said, the "IOUs" people make so much of are actually US government bonds.  

 

The idea that social security will default is highly unlikely, since the old folks who receive the payments are a growing percentage of the population and vote in higher percentages than any other slice of the population.   We may have to change the way it is funded and paid out, but it will not default and people will get their social security payments. 

 

But all that doesn't change my basic point, and that is, social security is one of the most successful government programs ever created.   It has forced people to save for their old age, and kept old people from starving in the streets.   Imagine the strain on charities and other social services if the social security program did not exist.  

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