Secret #1: Social Security is a Ponzi Scheme
It looks like Bernie Madoff will spend the rest of his life in prison. That was after stealing $50 billion of investor’s money. Did you know that there is a Ponzi scheme that is 200 times bigger than Madoff’s? It’s called Social Security.
Social Security currently has liabililites of $10 trillion. Many people think that there is a certain amount of money set aside to pay back this massive debt. Guess what. There isn’t. The government already spent the money. Just like Bernie Madoff.
This point of this post is not to be critical of the government. America is the best country in the world, and has perhaps the best government system. But the day of reconing is soon upon us; the govenment has borrowed more money than it can pay back. And people counting on Social Security are likely to be left holding the (empty) bag.
The point of this post, and of our whole blog, is to educate people. Most people think that Social Security can be trusted. We beg to differ. The internet and blogging is all about equality and transparency, and we want people to become more aware of the dangers of trusting the govenment to take care of them. Don’t believe us. Do some research. Google on the internet. Doing anything is better than blindly believing another person, company or even the government.
The govenment simply doesn’t have the $10 trillion to pay Social Security benefits. Why? Because all the money is gone. And soon, I believe, we will not be able to borrow any more money. The borrowing has already accelerated at a frenetic pace, because of both the Bush and Obama administrations. We have already borrowed too much. We are borrowing more and more each day, and I am doubtful of our ability to pay it back.
Now is the time to get educated about what is happening. Now is the time to find another solution to our own financial crisis. Don’t wait until the last moment. Do something today to make our financial future brighter, regardless of what happens with Social Security or the government. Our future is in our hands. It’s our responsibility and opportunity to make sure that our future is secure.
This is the first post of a series: Secrets the Government doesn’t want you to Know.
Related posts:
- Secret #5: The Largest Ponzi Scheme in the Country is Medicare
- Problems with Social Security
- How To Run A Ponzi Scheme
- The Singularity… and the Trillion-Dollar Ponzi Scheme
- Secret #7: The Government will not be able to take Care of you
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is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
