Social Security is NOT a Ponzi Scheme. Florida Senior Speaks Up.

Run time: 04:11 https://www.youtube.com/watch?v=pr81gwJkHjw   Posted on YouTube: September 13, 2011 By YouTube Member: NationalCommittee Views on YouTube: 8   Posted on DU: September 13, 2011 By DU Member: jtown1123 Views on DU: 724

 
This senior spoke before the Tea Party sponsored CNN Republicans Presidential Debate on 9/12/11.

not from any actual profit earned by the organization, but from their own money or money paid by subsequent investors.

American workers invested a $2.6 Trillion (surplus) in the SSTF. The SSTF trustees took this cash and gave it to Congress in exchange for Treasury Bonds. Congress took the money and spent it. However, Congress did not combine these activities with the general fund and treated it as an off-balance sheet liability. Now, American workers must ante up another $2.6 Trillion, to service this debt, or more accurately, to pay themselves back.

Bernie Madoff was sentenced to 150 years imprisonment and a forfeiture of $17.179 billion for running his Ponzi Scheme. On the other hand, no one has gone to jail for looting the SSTF.

That means it must be okay...?

who threatens the well-being of tens of thousands seniors is beyond comprehension.