How’s that social security trust fund working out for you? Suckers!

Posted by Jason | Posted in Economics, Government | Posted on 04-02-2010

0

Our government, the same idiots liberals look to for health care and the same idiots neocons look to for protection from overseas boogeymen, has looted and spent our way into what is going to be the beginning of the end.

Last month, we noted that Social Security had delivered its worst performance in decades. Now, Allen Sloan warns investors at Yahoo Finance that the entire program has gone into the red — and will stay there. Get ready, Sloan says, for the mother of all bailouts:

Don’t look now. But even as the bank bailout is winding down, another huge bailout is starting, this time for the Social Security system.

A report from the Congressional Budget Office shows that for the first time in 25 years, Social Security is taking in less in taxes than it is spending on benefits.

Instead of helping to finance the rest of the government, as it has done for decades, our nation’s biggest social program needs help from the Treasury to keep benefit checks from bouncing — in other words, a taxpayer bailout.

via Hot Air » Blog Archive » Social Security tipping over into the red.

So, how are these morons going to attemp to get us back to solvency? Will they have the guts to cut back social security or abolish it all together? (that was rhetorical) My guess is this will be the beginning of what Peter Schiff calls the coming currency crisis. They will attempt to print their way out of it, which will send the dollar falling, hurting those on social security and everyone as a whole.

Better stock up on food, cigarettes, and bullets. They’ll be great for bartering.

VN:F [1.8.1_1037]
Rating: 1.0/10 (2 votes cast)
How's that social security trust fund working out for you? Suckers!1.0102

Write a comment