Wednesday, May 13, 2009

ASSUME the position!

Do you remember when the painstream press when nuts covering the Bernard Madoff ponzi scheme of over $50 billion? Well----are you ready for a $33 TRILLION ponzi scheme brought to you courtesy of our deficit hawk government? The newest accounting estimate is now out.

This is bound to set off the discussions about Social Security and Medicare. The latest news is that these two entitlement programs have gotten worse because of the recession. In fact, they are in such bad shape that Medicare is now paying out more than it receives.

The Trustees of the program said that Social Security will start paying out more than it collects in 2016. That is one year sooner than previously projected, and the entire system will be depleted by 2037.

Medicare is doing even worse. The trustees say that it will be insolvent by 2017, which is two years earlier than projects.

By the way .. there is not now and there never has been a Social Security Trust Fund. That's a fiction created to keep the dumb masses placated.

But what does Barack Obama want to do? Create MORE entitlement programs and grow the size of the government. Do you REALLY think this is going to work out well for us?