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More Evidence the Government is Running a Giant Ponzi Scheme

elko-mike Wrote: Nov 30, 2012 1:34 PM
Katie, not true. Social Security is a fraud more than anything. "Congress clearly had no such limitation [a contractual obligation to pay benefits] in mind when crafting the law. Section 1104 of the 1935 Act, entitled "RESERVATION OF POWER," specifically said: 'The right to alter, amend, or repeal any provision of this Act is hereby reserved to the Congress.' " See http://www.ssa.gov/history/nestor.html According to Flemming v Nestor, SS is a tax program and Congress can end it tomorrow. There is no obligation to pay benefits and when the government can no longer do so then people will be screwed. Politicians who imply that the benefits are guaranteed are committing a fraud.

The U.S. birth rate just hit a new low which has liberal media outlets like NPR pointing out that Medicare and Social Security are in trouble as a result. Why? Because the program isn't being paid for with money former workers put into the system, that's already been spent by the government, but by young people currently working.

The U.S. birth rate hit an all-time low last year, according to a report from the Pew Research Center — just 63 births per 1000 women of childbearing age.

This is a problem. Not just because...