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Amid global meltdowns, what is the half life of the U.S. government's fiscal solvency? [View All]

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arrestblankfein Donating Member (99 posts) Send PM | Profile | Ignore Thu Apr-14-11 03:16 PM
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Amid global meltdowns, what is the half life of the U.S. government's fiscal solvency?
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Seriously: Bernie Madoff is doing prison time for running a grand Ponzi scheme. And yet isn't the U.S. Congress running a far larger Ponzi scheme, where money is taken from one generation with a promise that they will be paid back in the future (Social Security and Medicare), but the only way the government can actually pay them is to bring in new money from new suckers who are given the same false promise?

Isn't this the very definition of a Ponzi scheme? And isn't it a criminal act to operate such a Ponzi scheme? So how is the U.S. Congress, which oversees and engineers this entire scheme, any different from Bernie Madoff who bilked investors for billions?

I'll tell you the difference: The U.S. Congress is doing it with trillions, not billions. If your scam gets large enough, it magically becomes the law of the land. The only failure of Bernie Madoff, it turns out, is that he didn't think big enough.

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