Rick Perry
Texas Governor and presidential candidate, Rick Perry, upset some when he referred to Social Security as a "ponzi scheme." I’m hoping he is not right in this matter, but here's what is leaving the door open that he very well may be.
A ponzi scheme is condcuted by a fraudster(s) that collected money from investors, on a financial scam they have no intention of making good on, with positive monetary returns, while securing your investment. They keep seeking out new investors, to use their newly collected money, to pay alleged returns to the first set of investors. The pattern keeps repeating itself, until all the principal paid by all the investors has been squandered away, not only on issuing checks for bogus, non-existent returns, but also to pay for unauthorized, frivolous and illegal activity by the fraudster.
In July 2011, when President Obama stated, he could not guarantee that Social Security checks will go out, if the debt ceiling was not raised, it caught my attention. Why would Social Security, an old, allegedly wealthy fund, with trillions of dollars in taxpayer money, be in danger of not being properly distributed, as it has been for years.
Did some unscrupulous person(s) in the government spend most or all of the money in an unauthorized manner and Washington is using borrowed money to send out the checks each month. Why else would the President say something like that.
What oh what could have depleted those funds. Hmm let’s see - two wars in the Middle East could destroy trillions over the course of several years. The movie "The Obama Deception" also points to the fact, in the transitional time period, between former president, George W. Bush, preparing to leave office and President Obama assuming it, trillions in U.S. taxpayer money mysteriously went missing.
Barack Obama
It would be an evil thing if the people’s money in the Social Security fund was no longer there, after millions paid into it in good faith. For years, I’ve heard so many seniors say they have paid into Social Security for decades, which will tie them over in their old age, until they pass.
My mother paid into social security for over 30-years and she is one of many thinking their money is still there. Many seniors in Florida and around the nation will readily admit, they use their monthly Social Security checks to pay for food, utilities and transportation. They are not "bling blinging" with this money, as the modern phrase goes. It is being used on necessities.
For those seniors that lost their homes during the current foreclosure fiasco that gripped the nation, when banks colluded and drastically raised interest rates in a short space of time, thus sending monthly payments through the roof, leaving many unable to pay their adjustable mortgages, their Social Security checks are paying for rent as well.
If the U.S. government messes around and the Social Security fund collapses, millions will go homeless in America, as there are many senior citizens in the nation, many of whom are infirmed, the job market is poor and there exists ageism in it as well creating discrimination issues. The government needs to get its act together, as the welfare of many is at stake.
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