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History Suggests That Entitlement Era Is Winding Down

GRusling Wrote: Jan 14, 2013 8:06 AM
Social Security (which I now draw) is a Ponzi scheme. Even FDR knew (and said so) when it was instituted, that it would fail unless the so-called "Trust Fund" was invested in something which actually CREATED wealth, because that would be necessary in order for the concept to meet the demand for future retiree's. Even in the 1930's economists understood that it was a pyramid scheme and nothing more, which would eventually run out of "new money" to pay off the "old investments." Get real people -- quit acting stupid and use your head for something more than a hatrack...
George257 Wrote: Jan 14, 2013 8:36 AM
Yes, a ponzi scheme. Which is fine, until the last people to pay in try to draw out what they are owed.
It's often good fun and sometimes revealing to divide American history into distinct periods of uniform length. In working on my forthcoming book on American migrations, internal and immigrant, it occurred to me that you could do this using the American-sounding interval of 76 years, just a few years more than the Biblical lifespan of three score and 10.

It was 76 years from Washington's First Inaugural in 1789 to Lincoln's Second Inaugural in 1865. It was 76 years from the surrender at Appomattox Courthouse in 1865 to the attack at Pearl Harbor in 1941.

Going backward, it was 76 years...