He’s such a kidder:
Because Wall St. did such a great job with our retirement accounts recently.
Er, let me ask this: is Big Government, the end game of Progressives everywhere for its "intelligent guiding hand by altruistic experts for society" doing much better? He denigrates Wall Street, but the return is still better than what SS has done with those funds. You know, for Progressives, there is absolutely no sin larger than reducing any program of any size – even if it is a train wreck that is starting to pick up speed
Again, Dean, please tell me where we are going to get the approximately $106 Trillion to fill the unfunded liability of both Social Security and Medicare? The entire GDP of the US as been about $14 Trillion / year. You’re a teacher, do that basic math: that is the equivalent of taking every cent of that sum and doing NOTHING but giving it those two programs…
…for seven and a half years.
Or, if you like, using the entire US Federal Government budget, currently at approximately $4 Trillion (and remember, thanks to Dean’s uber-hero Obama, borrowing 42 cents of every dollar spent)
…for 26.5 years.
Sound ridiculous? Of course it is. Even Progressives know that is unsustainable – even Dean can do the math. There will be a tax revolt by the younger generations before they give it all up for the Geezers (of which I am at the tail end).
Oh, he and the other Hampsters go on and on about Government is just so caring and provides for all of our needs. Sure – with the efficiency of the DMV and the love of the IRS. Dean’s problem, and others of his philosophy, refuse to admit that there is an end game to using other people’s money for their version of charity.
Social Security? Strip away all the pretensions of the underlying funding mechanism
| BERNIE MADOFF | SOCIAL SECURITY | |
| Takes money from investors with the promise that the money will be invested and made available to them later | Takes money from wage earners with the promise that the money will be invested in a "Trust Fund" and made available later. | |
| Instead of investing the money Madoff spends it on nice homes in the Hamptons and yachts. | Instead of depositing money in a Trust Fund the politicians use it for general spending and vote buying. | |
| When the time comes to pay the investors back Madoff simply uses some of the new funds from newer investors to pay back the older investors. | When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the geezers. | |
| When Madoff’s scheme is discovered all hell breaks loose. New investors won’t give him any more cash. | When Social Security runs out of money they simply force the taxpayers to send them some more. | |
| Bernie Madoff is in jail. | Politicians remain in Washington. |
There never was a lockbox and there is nothing but IOU’s of other Fed Depts back to the Treasury for the money they already spent (remember, politicians of BOTH parties allowed this to happen!) that should be there to pay the Lawful Ponzi Scheme – but isn’t.
Being a Progressive means never having to believe the accounting ledger (heck, I’m not even sure they understand one when it comes to other peoples’ money….after all, that spectacular "War on Poverty" of the Progressive LBJ’s "Great Society" turned out oh so well – after $5 Trillion, did it work?).
Dean, get your Hopey pixie dust ready, ’cause that’s about the only way these programs will stay the way they are. Frankly, about the only Change that will happen is that it will hasten the end of Big Government fiscal policies that are unsustainable.
Demographics and the HUGE debt levels that Obama’s budgets are incurring will see to that.
(HT: chart by Boortz, rant by me)
