Wednesday, July 14, 2010

Paying the Fiddler

The Washington Times ran a story today about both parties in Congress mulling over the possibility of raising the retirement age. The Social Security system is broken and eventually politicians will be forced to admit it. Raising the retirement age is, at best, at stop-gap measure. The real problem is Social Security was, is and always has been a Ponzi scheme at its core. Now, as the DVD mentioned in this article details, the demographic trends over the last few years and future projections will not allow the scheme to be perpetuated.

1 comment:

Anonymous said...

Not planning on relying on that at all. Pretty ticked that I'm paying $$$ every month into a scheme that won't work for me, when I could just put another 5-10% of my salary in a Roth and live happily every after.