Government no better than Madoff

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I would like to know the difference between the fifty billion-dollar Ponzi scheme run by disgraced New York money manager, Bernard Madoff, and our current social security system.

Both are using new money to pay old "clients."

You tell me.

Ronny B. Bolton, Aiken, S.C.

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iletuknow
8
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iletuknow 01/05/09 - 03:48 am
0
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Thinking your government is a

Thinking your government is a Jewish cartel? You're not alone.

bone
23
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bone 01/05/09 - 05:24 am
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i don't think you can sue the

i don't think you can sue the gov't to recover your lost social security income; that's probably the only difference.

patriciathomas
42
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patriciathomas 01/05/09 - 07:51 am
0
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The big difference is Bernard

The big difference is Bernard Madoff doesn't have nearly as large of an army as the U.S.Government does.

Little Lamb
46002
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Little Lamb 01/05/09 - 09:20 am
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Thanks, Mr. Bolton, for

Thanks, Mr. Bolton, for pointing out a truth.

teharper428
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teharper428 01/05/09 - 10:02 am
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According to the Center on

According to the Center on Budget & Policy Priorities, Social Security lifts 13 million seniors above the poverty line.
But, hey, who cares about those old folks....(snark)

CH
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CH 01/05/09 - 10:31 am
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Big difference, Ronny. The

Big difference, Ronny. The Ponzi scheme was a voluntary investment. True, it was worthless, but the same can be said about Social Security except SS isn't voluntary. And, PE Obama isn't interested in making SS voluntary. So, the cycle continues...we pay and pay and pay...and the system continues to bleed money until finally, the patient will die. Wonderful future we're giving our children and grandchildren. Whatever happened to the doctrine of taking care of yourself in this country? Now, it's what can this country do for me?

jack
10
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jack 01/05/09 - 11:55 am
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Well the latest misue of the

Well the latest misue of the money government is stealing from us in the DIMocRAT "recovery" handouts include swimming pools, tennis courts and God only knows what other vote buyers.

hey
0
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hey 01/05/09 - 12:13 pm
0
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America is dead. You should

America is dead. You should get out of debt and take care of your own. Let the government do whatever it is going to do, but in the end, you are responsible for yourself and your family.

elliottness
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elliottness 01/05/09 - 12:46 pm
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i think ss was one of the

i think ss was one of the best concepts that gov't produced.what happened is people are living 20 and 30 years past what their parents did.they also only contributed very little in and get a lot out.we also have the ssi and other parasites bleeding this nest egg. i also understand foreigners who move here, up in age receive but put nothing in?how did this happen? you don't contribute, you don't receive, period.

rufus
2
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rufus 01/05/09 - 01:44 pm
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Quick, we need you old people

Quick, we need you old people to die already

CH
0
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CH 01/05/09 - 02:15 pm
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Elliot, if the "guvment"

Elliot, if the "guvment" would give me the choice, I could take that amount automatically taken out of my paycheck and produce far more that this bankrupt system has created for my own future. What am I talking about? As far as SS is concerned, there is no future for me. Best concept? Maybe on paper, but that's all! It's just another program that proves that government can't run anything, except into the ground. Government run healthcare will be worse! We'll have no choice in that trainwreck either.

patriciathomas
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patriciathomas 01/05/09 - 02:46 pm
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teharper, your 9:02 comment

teharper, your 9:02 comment shows that you're a very good Democrat, but totally lacking in knowledge of how social security works. (pardon the redundancy)

johnsmith
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johnsmith 01/05/09 - 02:50 pm
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difference = compulsion and

difference = compulsion and proportion. Because SS is compulsory, the SS system has amassed VAST unfunded obligations, beyond the WILDEST dreams of a small-timer like Madoff. teharper, your 9:02 post reveals a fundamental distrust of an individual's ability to look after his or her own self. That's absurd. For almost all of human history, old people had no Social Security. Yet you cannot demonstrate that during all of those millennia, each old person automatically became a pauper relative to the young. In fact, old people routinely saved for their old age and counted on the support of their descendants. And somehow, without any help from FDR and his cohorts, they actually managed to die of old age. Amazing!

elliottness
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elliottness 01/05/09 - 06:13 pm
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don't agree ch.social

don't agree ch.social security if left to run like it was designed will benifit more than hurt anyone.it has remained solvent all these years,and will if everyone would stop borrowing from it and leaving useless ious.

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