That phrase and its true meaning has evaporated over the years with the activities of all the administrations since Lyndon Baines Johnson and their accompanying Congressional bodies.
It is one thing to call Social Security a Ponzi scheme. It is quite another to define the term: Everyone of those legislators who voted to use excess funds as though it were a piggy bank for their fun and games plus every President who signed on to their spending sprees is a CROOK! They have stolen, without any plan for pay back, funds that belong to the American citizens.
Today they are chasing their tails looking for ways to cover up their shenanigans and placing the blame any where it might stick. Disgraceful! I've always hated to hear a certain segment of the population who has opined "They are all crooks!" But they have been right all along, haven't they?
Does a debt of over $14 trillion bother you? It should, but what if the real numbers were included? It would be close to $23 trillion if the same level of unfunded liabilities would be included. (I just extrapolated the numbers from 2004 which were $9 trillion debt plus $6 trillion unfunded liabilities as proportionally as I could.) Anyway, you get the picture.
Double sets of books, NON-transparency at its best. If you don't like the looks of the bottom line, just take off a portion so the public can't see it.
Now we have a group of new "young Turks" who truly see the problem and want to get a start on fixing it. But what can they do with a President who not only won't try to decrease our spending but actually wants to increase it??? And along with that, wants to increase taxes on those who actually make jobs for others?
Until next week when I'll try to give you the highlights, one of my daughters-in-law shared with me a WSJ editorial by Stephen Moore from April 1 (which may still be in the stack I had saved when I was away for a few days) entitled "We've Become a Nation of Takers, Not Makers." If it's still in the archives it is a good read. Thanks, Jen. Remember Greece last year? When the nation's debt either comes close to or exceeds the GNP it spells disaster with a capital D. The next step toward our downfall is when the vote is 51% of those on government programs vs. the givers.
Sorry to sound so pessimistic.
Added Thursday morning: Passing by a gas station this morning it occurred to me that it's either ironic or a major scam by the "green energy at any cost" folks (read Obama) to have to pay to subsidize the manufacture of ethanol and then to pay for the increased cost of the gasoline that is now 10% ethanol no matter whether or not you want or asked for it. How gullible are we?