Ever since the Madoff incident I've been wanting to post my feelings about several government run Ponzi schemes. Well, this morning I felt it was necessary since I heard it on the radio. Just take a look at Social Security (thanks FDR). Everyone that is now on SS is being supported by those working and paying into it...yes, US!!! There is no giant mattress that the government is using to squirrel your money away for your eventual use. Also, consider that as the size of the workforce grows smaller there will be less and less to pay into it making it harder for anyone (again, US!) to get what they've paid into it. Frustrating...
I won't even go into Medicare/Medicaid and other such government programs that rob Peter to pay Paul.
I worked for a health insurance company for a number of years and they do this the same way. Through their premiums, the "well" people basically support the "sick" people. If you have more well people than sick people you're fine (more income than expense). When the number of sick people goes up the shit starts hitting the fan.
Food for thought...
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