The National Ponzi Scheme

Posted on Wednesday, February 18, 2009 at 12:43 am

williams2.jpgWalter E. Williams: [T]he Ponzi scheme continues to work on the ‘rob-Peter-to-pay-Paul’ principle, … So long as the number of late comers — you might call them suckers — grows, the fraudulent scheme has life. …Today’s recipients of Social Security, along with their powerful AARP lobby, represent a powerful political force. Few politicians are willing to risk their careers alienating today’s senior citizens for the benefit of Americans in 2040. After all what do today’s seniors and politicians care about a 2040 calamity? They will be dead by then. See here.