American Hustle: The Social Security Ponzi Scheme

On June first, a federal judge set the date for the sentencing of Texas District 19’s current State Senator, Carlos Uresti. Later this month, on the 28th, Uresti will find out what penalty he’ll pay for his role in the Four Winds Ponzi scheme. While it’s nice to know that office holders that break the law occasionally pay for their crimes, there is more than a hint of irony in the federal government judging poor Carlos for his misdeeds. For more than half a century, the federal government has and continues to perpetrate Ponzi schemes on the people of these United States. Of course, when Carlos does it, it’s a crime; when the federal government does it, we call it Social Security.

A “Ponzi scheme,” named for Charles Ponzi who committed such an act back in 1919, is a “Scam in which a gullible group is enticed with the promise of very high returns in a very short time, but is based on paying off the early ‘investors’ from the cash from (hopefully ever increasing number of) new ‘investors.’” If that sounds familiar, it should, because it’s the basic set-up of Social Security. Only this time, Washington …

Read more at the Texian Partisan
(The opinions in this article are the opinions of the author and do not necessarily represent the views of Southern Nation News or SN.O.)

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