What happens when a private Ponzi scheme inevitably goes bust? The investors who didn’t cash out lose all their remaining funds and the gangsters running the scam go to jail because private Ponzi schemes are illegal.
What happens when a public Ponzi scheme, such as Social Security, inevitably goes bust? Well, presumably the gangsters running it don’t go to jail, no matter how much they deserve to, because they were able to see to it that it wasn’t illegal if the government did it. What about the investors? Isn’t it obvious? They will lose their money, just like the others. You were counting on the government taking care of you? Silly ninny! Beginning in 2017 Social Security benefits will slowly be reduced to zero, starting with the elderly rich, then trickling down to the minimum wage earner. So sorry, but you got what you deserved by voting for big government all those years.
And if Obama or Clinton get elected, our health care will be the next thing fraudulently frittered away.
