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Rick Perry Was Correct

ajhil Wrote: Apr 26, 2012 9:03 PM
Open your wallet, Andy, and take out the currency in it. Are those greenbacks "money"? No, they're IOUs. Do you think that your bank has what you consider your money safely squirreled away like gold ingots in a vault? If you do, than you're a fool. Your account is basically another" form of IOU. Your bank has only a small fraction of its total assets (deposits) in the form of cash reserves. The rest is no more "real" than the assets of the Social Security Administration. How can you function and be so shamefully uninformed?
Andy440 Wrote: Apr 26, 2012 9:35 PM
We are currently 16 TRILLION in National debt; we have zero funds 'set aside' to support Social Security other than the current tax revenue base; we have a senior population (the Boomers) that greatly outnumber the generation(s) ("X" and "Y") that are SUPPOSED to be supporting them as the Boomers increasingly enter their social security retirement years (we aborted the other 50 million who would have been part of those generations); and we are adding to the deficit a TRILLION + a year, and you are calling ME "foolish and un-informed"?
When Texas Gov. Rick Perry, then in the early stages of his short-lived quest for the Republican presidential nomination, referred to Social Security as "a Ponzi scheme," he was excoriated by the press, left and right, and by his fellow Republicans, as well. Earlier this week, government actuaries revealed that Perry was correct.

That revelation, which was greeted with a ho-hum by the media, basically announced that by 2033, 21 years from now, the so-called Social Security trust fund will be empty. The only reason this was even announced is because we are approaching a presidential election campaign, and...

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