The Biggest Ponzi Scheme of All is Sponsored by the U.S.Government

The Medicare and Social Security programs are estimated to be short by close to 110 trillion dollars. That makes them completely bankrupt.

Ask the average American, for example, how Social Security works and he or she will tell you it’s an insurance program. It’s not. There is no trust fund. There are no reserves, although you often hear politicians mention such terms. Benefits are paid today to retirees from earnings of those still working,

So what makes this different from any other Ponzi scheme? Paying off some folks today with money taken from others, to whom you promise benefits tomorrow, IF you have the money?

The funds you take are never really invested. They are used to pay off obligations of today.

Government, in short. has already denuded what is supposed to be the Medicare Trust Fund—there’s nothing left. Social Security will run out of money in a couple of decades when there are not enough taxable workers to pay off all retirees.

I repeat: What makes this different from any other Ponzi schemes?