Tag Archive for social security

Socialist Security Bankrupt – Bailout Required

Socialist Security is finally going in the red after 70 years of hot Ponzi scheme action. Those who got in at the begining made out like bandits, while the government sucked down the excess like Bernie Madoff on a cocaine binge.   The system was doomed the day the government began its Ponzi actions of…

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…