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Author: notehound Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 457569  
Subject: Why is it that SS must be pre-funded? Date: 1/2/2013 7:45 PM
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A commentator calling himself "OpenThePodBayDoorHAL" (one very clever moniker, in my book), points out that somehow the politicians have determined that Social Security should be treated differently than other expenditures.

Michael Hudson asks the perfectly reasonable question: why is [Social Security] the ONLY program that must be pre-funded? I mean why don't they need to pre-fund the next banker bailout? Why don't they need to pre-fund the next war(s)? Those seem to be paid for on a current basis, no problem. But when it comes to something for the actual PEOPLE, oh no gotta pre-fund it, and cut it if there's not enough money for the future.

Let's pre-fund the next banker bailout with a financial transaction tax...say $0.01 on shares held less than 1 second[.]
[Emphasis added.]

http://www.zerohedge.com/contributed/2013-01-02/all-facts#co...

Methinks that Hoi Polloi are going to get mighty worked up when they find out that the politicians have changed both the Keys and the Combination to the "Social Security Lock Box" into which said parties have been stashing their cash for 30+ years. The real anger will not erupt until said parties are informed that they will not even be able to obtain a bare dollar-for-dollar return (sans interest) of the funds they have "invested" in their future retirement.

http://en.wikipedia.org/wiki/Hoi_polloi

Not to worry, though, a select group of the Proletariat (a critical mass of voters, perhaps?") will continue to be given access to the Lock Box so they can withdraw far more SS funds than they ever contributed.

http://en.wikipedia.org/wiki/Proletariat

There are implicit dangers in utilizing social/political strategies which pit one group of society against another. Somehow, there always tend to be unintended consequences.

:-o
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