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by javert 4572 days ago
It is a "bailout" because the government originally claimed that Social Security would be a self-sustaining investment system, as far as I understand it. But I'm not dead set on arguing for calling it a "bailout." It is what it is, the terminology here is not that important.

You are right---I am not being conned. Just forced. I will eventually go to a country that better allows me to pursue my values if I can find one.

1 comments

>It is a "bailout" because the government originally claimed that Social Security would be a self-sustaining investment system, as far as I understand it.

Please do your research. The government claimed no such thing.

here is as good a place to start as any:

http://www.ssa.gov/history/fdrstmts.html

Social security was a government program. Funded by taxes. From the start.

Note, the first generation? yeah, the retired folks got social security benefits right away, even though they had paid in nothing. This very clearly made it not work as an investment.

I mean, it's perfectly reasonable to disagree with safety net programs.

But don't claim that our safety net programs are bad as investments when they are clearly not investments at all.