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Charles Ponzi's scheme must have made an impression on policymakers who were coming of age in the 1930s, because they used the same plan for the new Social Security system.
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According to the Congressional Budget Office projections, without budget reforms, accumulated federal debt held by the public will almost double from $26 trillion in 2023 to $46 trillion by 2033.
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The government can't return the SS money it stole in the past. It's impossible. That money's gone. Taxing today's workers to 'pay back' pensioners is just creating a new group of tax victims.
Charles Ponzi's scheme must have made an impression on policymakers who were coming of age in the 1930s, because they used the same plan for the new Social Security system.
