Welcome Guest ( Log In | Register )
   Mobile App






Reply to this topicStart new topicStart Poll

> Is SS A Ponzi Scheme?!
Bookmark and Share
Patch 
Posted: 16-Sep-2011, 05:11 PM
Quote Post

Member is Offline





Celtic Guardian
Group Icon

Group: Scotland
Posts: 7,710
Joined: 22-Dec-2002
ZodiacIvy

Realm: America, Mid West

male





"The Patriot Post (www.patriotpost.us/subscribe/ )"

Government & Politics
The Social Security Debate
Romney vs. Perry

The GOP presidential race this week boiled down to two words: Social Security. Specifically, which candidates have said what about the public retirement program set up by socialist Democrat Franklin D. Roosevelt during the Great Depression. The kindling has long been there for a fiery debate about the government's massive obligations to an aging population, but Texas Gov. Rick Perry's previous comments about Social Security being a "monstrous lie" and a "Ponzi scheme" lit the spark in Monday's Republican debate when several other candidates took issue with his position. So, is Social Security a Ponzi scheme?

Mitt Romney says no, and he seized the opportunity to cast the rhetoric of his main Republican rival as "over the top" and "frightful to many people." Romney warned, "If we nominate someone who the Democrats can correctly characterize as being opposed to Social Security, we would be obliterated as a party."



Frankly, both men have a point, though Romney used similar language in his own book to describe the program. Numerous figures on the Left have also over the years, dating back at least to a 1967 Newsweek column by liberal economist and Nobel laureate Paul Samuelson.

Strictly speaking, Social Security is not a Ponzi scheme, in part because it's not against the law. Indeed, it is the law. (Try not paying payroll taxes -- i.e., "investing" in the system.) But it is structured exactly like a Ponzi scheme, and it will eventually fail for the same reasons. Today's workers are paying for the checks of today's retirees, and it has always been that way. From the start, politicians have raided the Social Security "trust fund" and spent the money on other general fund projects. What was left were worthless IOUs. Now that benefits paid exceed taxes collected, that problem has become acute. According to the Social Security board of trustees, in 1945, there were 42 workers for every retiree; the current ratio of three workers to every retiree is unsustainable.

Perry later wrote a USA Today op-ed to clarify his position. He thinks Social Security must be reformed so that it can both be saved for those in and nearing retirement, as well as for younger workers. Still, Perry's problem is exactly as Romney indicated: Democrats (and apparently other Republicans) will demonize him for wanting to "destroy" Social Security. The program is still popular, and if voters think that a politician is going to take away their money, they will object vehemently. (Of course, their money has already been taken away, but that seems to escape the notice of far too many people.) Republicans have to walk the tightrope of calling for reform without being successfully demagogued.

The GOP candidates are shying away from any mention of Medicare, however, which is in far worse fiscal condition than Social Security. Annual spending on Medicare and Medicaid is now 5.5 percent of GDP, and by 2030, the Congressional Budget Office predicts that it will reach nearly 10 percent. Medicare by itself is already the biggest spender on medical services in the U.S., and that $525 billion in 2010 is influencing the market for everyone else.

Perhaps Herman Cain said it best: "I don't care what you call it, it's broken." He's right. And no matter what we call these programs, the important thing is to recognize that they will cause the nation to go broke if we don't fix them. But they can't be fixed unless conservatives win elections, and winning elections might require a more tactful approach.

Slàinte,

Patch
PMEmail Poster               
Top
MacEoghainn 
Posted: 16-Sep-2011, 05:26 PM
Quote Post

Member is Offline





Fear-leanmhainn an Ŕgh
Group Icon

Group: Founder
Posts: 2,949
Joined: 18-Jan-2004
ZodiacHazel

Realm: Cape Coral, Florida, USA, Planet Earth

male





QUOTE
But they can't be fixed unless conservatives win elections, and winning elections might require a more tactful approach.


I'm tired of politicians having to be 'tactful' when speaking to the people. If the majority of the American People "can't handle the truth"...



...then maybe they don't deserve to live in a Republic anymore.


--------------------
MacE
AKA
Steve Ewing

I know that my Redeemer lives, and that in the end he will stand upon the earth. Job 19:25

"Non sibi sed patriae!"

Reviresco (I grow strong again)
Clan MacEwen motto

Audaciter (Audacity)
My Ewing Family Motto
(descendants of Baron William Ewing of Glasgow, born about 1630)

"Better to remain silent and be thought a fool than to speak out and remove all doubt." Abraham Lincoln

"Igitur qui desiderat pacem, praeparet bellum." from "Epitoma Rei Militaris," by Vegetius

PMEmail PosterUsers Website My Photo Album               
Top
Patch 
Posted: 16-Sep-2011, 05:56 PM
Quote Post

Member is Offline





Celtic Guardian
Group Icon

Group: Scotland
Posts: 7,710
Joined: 22-Dec-2002
ZodiacIvy

Realm: America, Mid West

male





I just watched that movie the other evening.

One has to wonder just how dumbed down the populace has become. I talk to many people daily and some days I can only shake my head.

I read the other day that this years SAT scores had taken enough of a drop to be of concern.

I taught my children and am teaching my grand children about our government and our founding documents. I also taught them about politics and one daughter is close to the conservative side of independent. The rest are as conservative as I. All of them are employed.

One has to counter the liberal educators and in that many conservatives have fallen short.

Sadly or not, depending on how one looks at it, a large number of graduates since obama's election have not found work in their fields or any field for that matter. Those looking toward graduation now are expressing concern. I have younger friends who's children have moved back home due to the job market. Others are planning for that possibility

If these people can not find work, SS is doomed to failure.

All we can do is talk, explain and hope for the best!

Slàinte,

Patch

PMEmail Poster               
Top
0 User(s) are reading this topic (0 Guests and 0 Anonymous Users)
0 Members:

Reply to this topicStart new topicStart Poll

 








Celtic RadioTM broadcasts through Live365.com and StreamLicensing.com which are officially licensed under SoundExchange, ASCAP, BMI, SESAC and SOCAN.
©2014 Celtic Radio Network, Highlander Radio, Celtic Moon, Celtic Dance, Ye O' Celtic Pub and Celt-Rock-Radio.
All rights and trademarks reserved. Read our Privacy Policy.
Celtic Graphics ©2014, Cari Buziak


Link to CelticRadio.net!
Link to CelticRadio.net
View Broadcast Status and Statistics!

Best Viewed With IE 8.0 (1680 x 1050 Resolution), Javascript & Cookies Enabled.


[Home] [Top]

Celtic Hearts Gallery | Celtic Mates Dating | My Celtic Friends | Celtic Music Radio | Family Heraldry | Medival Kingdom | Top Celtic Sites | Web Celt Blog | Video Celt