Social Security - What Happened, Why It Matters (will we fall for this one too?)

This is a great summary of how SS has become what it is. Short version - politicians promised to they would hold your money if you asked them to and save it for you if you think you are not smart enough to manage your own money.

Phase 2 - politicians change their mind, and decide to take your money at gun point for your own good, but really, it's for your own good and you'll get it all back - "WE PROMISE!!!"

Phase 3 - a bean counter figures out what a good deal it would be if - instead of holding the social security money that was extracted from the 'free citizens' of this country (at gun point) to give back to them later - the social security trust fund loaned money to the US Treasury, for a very competitive rate no doubt, so that politicians could spent that money to get themselves re-elected. A true WIN-WIN situation! We get interest, politicians spend our money for self promotion! And what could possibly go wrong - SS has brought in more money in revenue than has been required to pay back in obligations every year since inception, surely that will continue forever.

Phase 4 - People live longer, people have fewer children, and now instead of 34 workers for each beneficiary, there are only 3.

Phase 5 - Everyone in the planet with an IQ above room temperature realizes this can't possibly work. The rubber meets the road in 2016 when payments in no longer equal or exceed payments out and the money will have to be removed from the general treasury; or promised benefits will have to be reduced.

Phase 6 - The folks who made the decisions that we are all paying for are dead - no one to blame but us for letting them get away with it.

Phase 7 - Politicians desperately seek a solution to the problem that will not cost them their jobs - finding none, they kick the can down the road.

Phase 8 - We stand back and watch while the politicians promise us they'll do a better job with our health care ... before they fix medicare and medicaid which are - by a 2-1 margin - even more in the red than SS ... will we fall for it this time?