Reem With A View

"Names and attributes must be accommodated to the essence of things, and not the essence to the names, since things come first and names afterwards." – Galileo

Is the US Social Security system the world’s largest PONZI scheme?

I think this cartoon below by Gary Varvel published in the Indystar.com is worth a million words if not a lot of thought.

madoffsocialsecurity

Basically in the Social Security method, American which have retired  enjoy beneifts which are paid for by the Americans working today and today’s Americans by tomorrows generation. The problem is the you can’t forecast of Americans of tomorrow will inherit the same economy as today. This is nothing but a giant PONZI scheme. Except its much SIMPLER than the complicated Madoff scandal, and is so blatantly obvious that people miss it.

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