Bick4 Wrote:
May 01, 2012 5:20 PM
Pamela, it certainly would have been in better shape than it is now if the fund had not been diverted, but it is still a Ponzi scheme. Eventually, as in all Ponzi schemes, there are not enough new entries into the scheme to pay for those already in it - and the only thing that can be done is to reduce benefits, delay the start of payout date, or just default. Can you imagine how much better off our economy and we would all be if each of us had our own private retirement account, along the lines of a 401K, which would allow each of us to build real wealth which we could dispose of as we saw fit rather than depending on the crumbs that are thrown our way through SS.