[Lord T Hawkeye]

Originally Posted by DalekSec

The Soc Sec system would work fine if we died at 70 and had more kids.

Nope, it would still inevitably spiral into oblivion because it is a ponzi scheme in all sense of the term. The original scam was an investment scam. The guy would take money from investors but rather than invest he, he'd simply spend it on himself. When it came time to pay up, he'd simply look for more investors and use some of the money to pay off the previous ones and then spend the rest on himself.

This is EXACTLY how social security works except the government enjoys the advantage of being able to force you to pay into it. They don't even have to fool you! They just take your money and spend it however they want and when it comes time to pay, they take it from others. The problem is the same as the original scam: The cost to sustain it grows with each cycle and that's exactly what's happening to yours. It has promised money that it won't be able to pay.