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817

I didn't get the chance to bring up how his generation sent all the good jobs away and crushed domestic wage growth which precipitated the crisis in the first place.

sigh...

I didn't get the chance to bring up how his generation sent all the good jobs away and crushed domestic wage growth which precipitated the crisis in the first place. sigh...

(post is archived)

[–] 0 pt

Except in this case that doesn't apply. The endlessly printed money can't be used to fund SSI, and the hyperinflation it creates makes the ponzi scheme even more fragile because you need a constantly growing population which is why the boomers are crashing it.

The SSI system, like welfare, will be bailed out as needed to keep the seniors voting the bastards into power. Magic money pays for everything. Do you really think one penny of collected SSI actually goes toward paying out SSI to seniors? Nope! There is no SSI fund except on paper. No big box, no bank account, nothing but fake accounting schemes. The money you've paid in was siphoned off the day it showed up. It's gone forever. So why would the government ever pay you in retirement? Only to keep the next generation of taxpayers on the hook. When they see you not getting payed, the house of cards collapses. Easier for the government to just add magic digits to your bank account than to deal with a real tax revolt. Don't even have to print magical paper money any more.

But wait, maybe I'm totally wrong on this. Surely there is a bank account in your name with stacks of paper money sitting in it. Nice old paper money in huge stacks and every year, somebody at the SSI Administration deposits your share in that bank vault. How could I be so mistaken? Sorry.