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Strategies & Market Trends : US Inflation and What To Do About It -- Ignore unavailable to you. Want to Upgrade?

To: ggersh who wrote (897)	3/14/2019 4:36:34 PM
From: RetiredNow	Read Replies (1) \| Respond to of 1504

Well, a Ponzi scheme is defined as when the returns or money you receive comes not from your principal and earnings, but from the people who came after you and are depositing funds. That is what SS is now. The SS Trust Fund has no money in it. All it has are IOUs from the Treasury. It is now running a deficit, so that deficit is adding to our debt, which is not being paid for by current retirees and their principal or earnings, but rather by all current workers who are contributing. That's a Ponzi scheme. It wasn't a Ponzi scheme back in FDRs day, but it has become one, because of variances in population over time and because of the increasing longevity of the people who retired, as well as the lack of indexing taxes to inflation as payments have been indexed. So it means it is not sustainable and it needs to be fixed.