If there’s trillions of dollars difference
between publicly outstanding debt investors can buy and sell
and non-marketable intragovernmental debt
who is it owed to
who has to pay how much more back and when
and why would those who know or should and don’t
let the country borrow trillions from itself
and why are most Americans unaware?
Treasury Secretary Jacob Lew reminds Congress Social Security and myRA are Ponzi schemes
"...the last (and only previous) time ...the US unemployment rate dropped from 10% to 6.6%, [was from June 1983 to December 1986]
If there was more than $11 Trillion in Federal Debt
and there’s less than $7 trillion held by the public
where’s the rest?
The Nation's Debt to the Penny and Who Held it in 2009;
Current Debt Held by the Public Intragovernmental Holdings
04/03/09 $6,868,532,515,279.65 $4,278,034,317,017.68
Total Public Debt Outstanding
"Fascism in the 21st century"
I disagree with Bernie Sanders on this
Some in our country think that Social Security is a trust fund
in other words there's a pile of money being accumulated…
because you put money in the government saves it for you
and then when you retire you get it out…
That's just simply not true
The money, payroll taxes going into Social Security, are spent
They're spent on benefits and they're spent on government programs
There is no trust
We're on the ultimate pay-as-you-go system…
The only thing Social Security has is a pile of IOUs
from one part of government to the next…
therefore when you have more retirees living longer for greater benefits
with fewer people paying in
the system inevitably will go into the red
George W Bush
President Barack Obama's myRA savings plan appears to be a Ponzi scheme; George Bush, Ron Paul, Paul Krugman etc...
"The economy is a Ponzi scheme."
If Bernard Madoff
distributed money received from new investors to older investors
until there wasn’t enough money to continue
does Social Security operate under the same structure
with mandatory participation?
How to Game Obamacare
"America's fiscal crisis is not that our debt ceiling isn't quite high enough — it's that we have too much debt."
"The more high-sounding the legislation, the more destructive its consequences."
"We must increase our debt limit so that we can pay our bills."
'Creative' accounting hurts future generations"
If Social Security taxes were increased in 1983
to ease the burden of a smaller generation
tasked with providing benefits to a larger number of longer living elders
why would elected leaders borrow and spend the surplus?
Shutdown; We have been stealing from our children by borrowing and printing for a more pleasant present
John Mauldin on Social Security and Ponzi: Have America's Parents stolen thier children's inheritance?
Ron Paul and George Walker Bush on Social Security
On Paul Ryan's VP Speech
Robert J. Samuelson: "The social and economic reasons for Generation Squeezed"
Questions for Federal Reserve Chairman Ben Bernanke that will probably be not asked during his congressional testimony
A profound truth on actual tax rates, by Michael Kinsley
Would you rather live in the ascendancy of a civilization, or in its decline?
"U.S. Debt Is Child Abuse"
James K. Galbraith Statement to the Commission on Deficit Reduction
Ambrose Evans-Pritchard on Spanish, British, American and almost everyone else's Social Security programs
Was it justifiable for the baby boom and their elders, to promise themselves tens of trillions of unfunded benefits, like Social Security, Medicare and Medicaid, for future generations to pay for?
If Social Security taxes were increased in 1983 to ease the burden of a smaller generation tasked with providing benefits to a larger number of longer living elders, why would elected leaders borrow and spend the surplus?
Are we collectively bankrupt?
Social Security Will Pay Out More Than Taxes Recieved In 2010
If the Social Security Trust Fund was spent, was it stolen?
Social Security II
On the Graduating Class of 2010
Have our nation’s elders betrayed their children?
How could fiscal 2009’s reported Federal Deficit be only $1.42 trillion if Total Debt increased by more than $1.88 trillion?
Is the United States of America a Kleptocracy?
On Social Security’s Trust Fund: 7 Deficits in 12 Months.
If relatively older generations of Americans vote more than their children and/or grandchildren, how much debt should be authorized by who, to be paid for by whom, for how long?