Liberal firebrand Chris Matthews and his guests, though not fond of his language, back up Gov. Perry's claim the Social Security funding is a Ponzi scheme.

Chris Matthews: "It is a Ponzi scheme in the sense that the money that is paid out every day, is coming in from the people who paid that day".

Very interesting and thoughtful (a bit partisan, of course) discussion from Chris Matthews "Hardball".

[ame]http://www.youtube.com/watch?v=4N-kIJVFcO4[/ame]


You can watch the entire 7 1/2 minute segment in the link below.

http://newsbusters.org/blogs/matthew...y-ponzi-scheme

That video sent a tinkle up my leg!!!!

Originally Posted by villagegolfer

That video sent a tinkle up my leg!!!!

The video sent a tinkle DOWN my leg.

I don't watch these programs but does Chris Matthews EVER let anyone finish a sentence? Does he even listen to the people he is berating?

Does anyone really think that SS is a ponzi scheme?

Total BS!!

There would have been no problem keeping SS funded if the crooks of Washington had not raided the fund so that they could line their pockets with more of OUR money.

Originally Posted by Figmo Bohica

There would have been no problem keeping SS funded if the crooks of Washington had not raided the fund so that they could line their pockets with more of OUR money.

Well, that is how a Ponzi scheme works.

Originally Posted by Figmo Bohica

There would have been no problem keeping SS funded if the crooks of Washington had not raided the fund so that they could line their pockets with more of OUR money.

They did not take OUR money to line their pockets. They took OUR money to rob Peter and pay Paul. They left IOUs that they have not yet repaid and have no intention to repay. They would rather blame a worth while program as a problem than live up to their own failings.

That was not a Ponzi scheme, it was a thief of public funds and should bring jail time to those involved. Think that will ever happen. NOT!!!

Most of that money was "Earmarks" you know those little pay backs to the crooks behind the public crooks, our elected officials.

Figmo,

I read the "21 rules to a gunfiight" you have linked to your avatar. I hope this is not your actual credo.

Originally Posted by buggyone

Figmo,

I read the "21 rules to a gunfiight" you have linked to your avatar. I hope this is not your actual credo.

Sounds like a good way to stay alive to me. I have been in a few gunfights in Southeast Asia and things happen fast and your adrenaline gets going and you don't really have time to think. That is when your training really pays off. The USA Government gave some wonderful training. I am so lucky to be alive.

Even IF (and that is a mighty big IF) Chris Matthews "admits" Social Security is a Ponzi scheme - why would you think that what Chris Matthews says is gospel truth? It would be his opinion. His opinion does not make it fact.

Same way with Ricky Perry's opinion of climate change, Michelle Bachmann's opinion of no child being vaccinated by government rule or Ron Paul's opinion of anything not mentioned in the Constitution is illegal.

Opinion does not make something fact.

Originally Posted by buggyone

Even IF (and that is a mighty big IF) Chris Matthews "admits" Social Security is a Ponzi scheme - why would you think that what Chris Matthews says is gospel truth? It would be his opinion. His opinion does not make it fact.

Same way with Ricky Perry's opinion of climate change, Michelle Bachmann's opinion of no child being vaccinated by government rule or Ron Paul's opinion of anything not mentioned in the Constitution is illegal.

Opinion does not make something fact.

Come one Bugsy, it is a documented fact that Social Security is a pay as you go benefit. There is no real fund, that's why your hero, AlGore said he would put it in a "lock box"...remember?

Originally Posted by Figmo Bohica

That was not a Ponzi scheme, it was a thief of public funds and should bring jail time to those involved. Think that will ever happen. NOT!!!

Most of that money was "Earmarks" you know those little pay backs to the crooks behind the public crooks, our elected officials.

Well, of course you're correct in that the politicians decided to raid "our money" and use it for their own purposes and that should have been illegal; but since they WRITE THE LAWS..........well......

Now to continue the program since then; it has be funded in the classic ponzi scheme method. So everyone is correct. Isn't that nice.

http://www.zerohedge.com/news/paul-k...l-soon-be-over

Except that it's not ending in the classic Ponzi scheme ending - the "few who got in first" (the Bernie Madoffs of the world) are not escaping with all the money.

Estimates are that, after the SSA cashes in all it's T-Bills, they'll still have enough money to pay 76% of the benefits they should be paying.

Originally Posted by djplong

Except that it's not ending in the classic Ponzi scheme ending - the "few who got in first" (the Bernie Madoffs of the world) are not escaping with all the money.

Estimates are that, after the SSA cashes in all it's T-Bills, they'll still have enough money to pay 76% of the benefits they should be paying.

Well, that's not exactly true. It's not ending with the top people getting all the money, because they keep pumping more of the people's money into into again and again. That's why it's such an enormous part of the budget when it wasn't always so.