Mr. John Stossel of Fox Business provides an in depth review of the US Government Ponzi schemes we know as Social Security and Medicare.
Somewhere in West Virginia, in a US Government Office, sits a file cabinet. Inside the file cabinet is a list of IOUs. The IOUs make up all the money that should be in the Social Security System. But, the money isn’t there. The government took the money and used it for other things.
This will be the first year, since the inception of the program, that Social Security will take in less money than it pays out. The IOUs are coming due and government has no clue, other than raise everyone’s taxes, how to correct the problem. The warning bells have been going off for years, but they have been deaf to the issue.
Stealing from our Children Part 1
Stealing from our Children Part 2
Stealing from our Children Part 3
Stealing from our Children Part 4
Stealing from our Children Part 5
I have to agree with Rep Paul Ryan. Let’s fix this now before it becomes a crisis. He seems to be the only one in government that has a plan.
Printing more money is not the solution. That simply decreases the value of the dollar and makes everyone’s savings worthless.
No amount of tax increase will solve the problems under the current program conditions.
While a baby boom will help in the future, it will not make up the necessary numbers in the mean time.
The fact that Europe and Japan should implode before the US does is of little consolation. We need to reform the system, take out the corruption and create a fair system that benefits all of the people and removes the government’s ability to tap into the surplus funds.
If we fail to address these issues properly, for the first time in our history, our children will inherit a lower standard of living. Call me an optimist, but I believe we can do better than that.