Tag Archive for ponzi scheme

Place Blame Where It Belongs

Mises’s Stephen Mauzy weighs in on institutionalized Ponzi schemes: The 1960s voting generation seems to have learned a thing or two about the fine art of institutionalized Ponzi schemes from their progenitors. Medicare’s costs doubled every four years between 1966 and 1980. Total Medicare spending reached $440 billion for fiscal year 2007, which was 16% of…