You are right about. It was a Ponzi scheme from the beginningRPB wrote:Social Security INSURANCE started out well, but Insurers are regulated a bit better with how many policies they casn sell versus $ in Reserves for claims.
If someone stole from the reserves, they'd get in trouble.
http://www.ssa.gov/history/Gulick.html
And the perpetrators are still with us
http://assetbuilder.com/blogs/scott_bur ... -fund.aspx
The penalty paid for the SS mess is the same as the penalty that will be paid for the sub-prime mortgage mess and the culprits in both cases were from the same group.
And everyone keeps saying "don't worry about the 2nd Amendment", they wouldn't dare touch it." Right. They've bypassed most of the rest of the Constitution and I'm not optimistic that they don't have a way up their sleeves for 2A, too.