The Federal Government's Ponzi Schemes

[John 10:10]

Now that I'm retired, I wonder how long I and others will continue to receive our SS checks? Why do I ask? Because SS goes in the RED this year by paying out more money than it will take in!!! For the last 25 years SS has been a cash cow for the Federal Government, taking in more than 2.5 trillion dollars than it paid out. This money was supposed to placed in a trust fund to be paid out to future recipients, thus making SS solvent for decades to come. But Congress (alias Bernie Madoff) spent the money each year, creating this massive 2.5 T IOU to future retired people. 2009 was the last year that SS took in slightly more money than it paid out. Is anyone concerned about this SS Ponzi Scheme other than me? Why did the Government put Madoff in jail for his 50 B Ponzi Scheme, and no one blinks an eye or goes to jail over the Federal Government's 2.5 T SS Ponzi Scheme which is 50 times larger!

Meanwhile, the Federal Government slugs along with another Ponzi Scheme in 2009 & 2010 by spending 3 trillion more than it will receive in revenues! Would your creditors let you borrow/spend money like this? State governments cannot spend money like this, but our Federal Government does, thinking there will be no "reckoning day" some day.

I guess President Obama and his Congress think other matters are more important than the solvency of our economic system.

[John 10:10]

Senator Bunning simply asked that the Senate abide by its rules and either cut spending by 10B or pay for the 10B in extended unemployment benefits. Apparently, one has to decide not be a career politician before they do the right thing!

Meanwhile, we continue to spend money we don't have to fund more and more government workers/projects, while businesses and workers who pay real taxes grow less and less.

My real concern is this:

If/when concervatives regain power in the fall 2010 elections or in 2012, our country will be in such desperate economic shape that not even coservatives will be willing to take the right medicine/surgery to gain economic health. Our current debt is 1500 times larger than the tiny 10B Congress couldn't find money or cuts to pay for it.

It will take "massive cuts" in government spending, entitlement programs, and taxes for the free enterprise business sector to recover.

But the free enterprise business sector that provides products/services to the public that is both profitable and economical is being demonized and destroyed.

Meanwhile, it's on to unfunded Obamacare.

It's as simple and as difficult as that!