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Murray Sabrin on Social Security

Republican Senate challenger


Social Security is a Ponzi scheme: Bernie Madoff on steroids

The Social Security program turned 75 years old on August 14th and the political class and their allies in the media, academia and the business world toasted the event extolling the virtues of America's longest and largest chain letter. Make no mistake about it; Social Security is a chain letter. Think of Social Security as Bernie Madoff on steroids.

While Bernie Madoff is in effect serving a life sentence for conducting a $50 billion Ponzi scheme, Social Security's Ponzi scheme is worshiped by politicians across the political spectrum as a federal program that "works."

Social Security "works" because the federal government has the power to force workers to pay into a system that is unsustainable. Social Security is unsustainable because it is not invested in real assets--stocks, corporate bonds, real estate, etc. Social Security has invested its surpluses in U. Treasury securities: in other words, Social Security is another way the federal government finances its budget deficits.

Source: 2014 Senate campaign website, www.MurraySabrin.com , Aug 16, 2010

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