Social Security deficits now ‘permanent’

Originally posted by spinalremain
Here's an idea.

Take 50 billion from the defense budget and put it into Social Security. Unless someone steals from it again (like Regan), all should be fine.

This is only a big issue because the Gov will not allow for defense budget to be cut. Total BS. End of story.

SS yearly payouts are in excess of $750 billion. The entire fund is sitting at just over $2 trillion. $50 billion wouldn't cover the costs just to administrate it.

Any accountant with a half-assed degree can tell you that SS is a classic pyramid scheme. Pyramid schemes cannot be sustainable. At first it's a good deal because the base are its contributions and the point is receipts. Eventually (i.e. NOW) the pyramid inverts and the base becomes the receipts, the point becomes the contributions. Tell me how this can possibly work.

/TOA