Friday, October 16, 2009

Social Security "broke"?

There are a couple of guys that do a 5 minute daily each weekday morning. They're very entertaining and anyway I've been acquainted with them for several months now exchanging questions and comments via email mostly. Today's video can be viewed here http://bit.ly/zfzJg via @addthis . 2 minutes into it I had to stop because anytime someone says "Social Security is broke" or "insolvent" it's like fingernails on a chalkboard!

Below is my response that I just emailed them.

Stop the tape! You're talking nonsense! Social Security "broke"?
Okay. Imagine we're playing Monopoly and we start out with 6 players and a regular Monopoly board. Once all the property is purchased, we've all upgraded homes to hotels and we're having so much fun we decide to add more players so we add a surfing or a MOTORCYCLE :) theme Monopoly game and 6 more players but only 1 at a time. We're growing our player population gradually, say every 2 passes on go we'll add another player – whatever. We could continue on indefinitely with this game. We could start printing money off our HP printer right? We could print it on demand OR, we could make a law that we can only print enough to facilitate one more game board-no more and no less and by decree it has to be printed all at one time. It’s our game and our rules are based on our desire to allow the game to grow and thrive. Does it really matter what Parker Bros has to say about it? Are we “bad” because we’ve modified the game adding and even changing rules to accommodate the goal a productive make believe game that can go on infinitely? We could even incorporating SS benefits if we wanted. If we did could those checks ever bounce? No because the only constraint is our own WILLINGNESS to HONOR our promise to pay. Certainly we could decide to stop adding Monopoly money to the game but assuming each player is thriving and wants to continue playing......... see?
Notice it doesn't matter how much colored currency the "banker" has in reserve unless we make a rule to apply restraints. Notice we are not constrained by the taxes we collect!
Fact: If you decided to pay your income taxes in cash you'd go down to the U.S. Treasury, they'd take your cash, give you a receipt then the cash you brought is shredded. How does that pay for anything?
Seriously! I mean, what else are they going to do with it. Put it in a cash register?

I await their response with much anticipation.