The Biggest Ponzi Schemes of All

It should not be a surprise to observant citizens: The biggest Ponzi schemes of all are being sponsored by the U.S. Government

The Medicare and Social Security programs are estimated to be short by close to 110 trillion dollars. That makes them completely bankrupt were they genuine insurance enterprises.

The average American, for instance, has no idea how Social Security works. He or she will tell you it’s an insurance program, as advertised It’s not, because there is no trust and reserve fund. Though you often hear politicians mention such terms.

Benefits are paid today to retirees right from earnings of those still working, So, what makes this different from any other Ponzi scheme? Paying off some today with money directly taken from others, to whom benefits are promised tomorrow.

IF there is any money. And there won’t be, without picking the taxpayers’ pockets again. or reneging on obligations.

Social Security tax funds taken in, are never really invested. They are used to pay off Social Security obligations of today.

Government has already exhausted what is supposed to be the Medicare Trust Fund. Social Security will run out of money in a couple of decades, or much sooner, when there are not enough workers to pay off retirees.

I repeat again: What makes them different from other Ponzi schemes?