catholicbybirth
St. Louis, pray for me.
- Aug 11, 2012
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A Ponzi scheme is a scheme where early investors are paid off by the later investors. Charles Ponzi was the first to use such a scheme.
In Social Security, the early investors are paid off by the later investors. Under the circumstances it doesn't seem so odd that people would note it was a Ponzi scheme. Haven't heard Glenn Beck or Sarah Palin refer to it as such, but I'm sure that you would like it if they have since you consider them discredited. I have heard Gov Perry of Texas refer to it as a Ponzi scheme though and he's not a discredited source--he just calls 'em as he sees 'em.
And in every Ponzi scheme, the number of investors dwindles, as is our workforce what with the number of abortions in this country.
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