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langostino

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langostino

Re: Jim is Jim post# 79735

Friday, 09/19/2008 2:16:41 PM

Friday, September 19, 2008 2:16:41 PM

Post# of 147224
OT: "hadn't started raiding the funds"


"SS would have been in fine shape if the gov't. hadn't started raiding the funds ... now it only has Tsy. IOUs in its account."

There is no account. Never was.

There were never any funds to be raided. It was never a lockbox. It was never intended to be a savings program. Ever. It was merely a program designed to take from one group of people and give to another. Yes, it did keep a phony set of theoretical books to try and sell the illusion, but the funds always co-mingled with the federal treasury daily inflows and outflows, coming and going.

The demographic basis and underlying assumptions were fundamentally flawed from day one.

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