Governor Rick Perry today told Chris Wallace on FOX News Sunday that Medicaid is such a Ponzi scheme that, “It would even make Mr. Ponzi feel bad if he were still alive today.”

 

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  1. Perhaps so, but Mr. Ponzi didn’t force his investors to invest. He didn’t take money out of pay checks before they were even issued. You can’t cheat an honest man, but you can rob him at gunpoint.

  2. Something else to remember: when social security first started and for many years afterwards most people did not live to collect social security, or if they did, they did not live long. My ex-husband’s grandmother had 12 brothers. All 13 of them paid into social security for many years but she was the only one who collected – and she collected on her husband’s account.

    All of the great strides that we have made in medicine – kidney transplants, liver transplants, all the heart surgeries and heart attack preventatives, new medicines for disease – especially penicillin – all of this has meant that we have many more people who live to be retirement age in the first place and then they often live much, much longer than was the case in 1940 or 1960.

    Yes, social security absolutely is a Ponzi scheme, but the originators figured that most of the time they would not have to pay out. They never figured on the little miracles that modern medicine has brought.

  3. Medicare, not Medicaid.

  4. #
    #3 November 21, 2010 at 3:30 pm
    ID commented:

    Medicare, not Medicaid.
    _______

    Yup – and Medicare is highway robbery. For starters, you cannot opt out and still collect your social security, even if you are covered by a spouse’s insurance or some other policy that you got with your retirement package from your employer.

    Secondly, there is no sliding scale that controls the amount that you pay for your “Medicare” benefits. People collecting at the bottom end of the SS scale can see virtually their entire check withheld for that Medicare.

    Third, the basic Medicare that you absolutely must pay for covers almost nothing. If you want to actually see a doctor, buy a prescription, take a test, get new glasses or hearing aids and so forth you must pay still more money for a different part or two of the Medicare “insurance.”

    Finally – and this is almost the worst: I’ve watched Medicare for 30 years or so and during that time I noticed something disturbing. Every year (until last year) Congress would award seniors a small (1 or 2%) cost of living increase in the amount they collected from Social Security. Invariably, year after year, those same Congressmen would come along a week or two or three later and raise the cost that seniors had to pay for that mandatory Medicare. Most years the increase in Medicare cost would about break even with the “cost of living” increase in Social Security, but there were at least a couple of times that my Dad ended up losing money.

  5. Here is the beauty part; Medicare becomes your primary provider, even if you have worked all your life and your union has negotiated for your retirement medical plan (deferred insurance benefits in lieu of salary). Don’t like that? Too damn bad; it’s federal law.

    And Granny is right, SS was never designed to be collected by the masses. As a matter of fact, FDR banked on it. The average life span of a white male in 1936 was 58, 60 for a white woman, and under 50 for a black male. People were not expected to live long enough to collect and that is why collection age was set at 65. But ironically, the very first woman to collect on her less than $25 paid into Social Security lives to be over 100 and collected 1,000 times what she paid in.

    But SS/MM is less a ponzi scheme than it is an airplane scheme. Just look up how the Airplane scam worked; just like Social Security.

  6. I agree with Governor Perry, but those that have robbed this fund need to be imprisoned. Just because they are politicians, does not make robbery any less criminal. Bank robbery can only be fixed if the criminal is arrested. In this case those bank robbers are the President of the United States(even if he is a Kenyan,) and Congress. They aren’t above the law, even though they act as though they are.

  7. #6 – two problems. The Social Security “Trust Fund” has been being robbed regularly for more than 20 years. We do not have a prison big enough to lock up all the Presidents and Congresscritters that have helped this along.

    Second, the President and the Congress are immune from prosecution for actions taken in connection with their duties during their term of tenure.

  8. Thank God for the “lock box”!!!!

  9. 20% of state budgets of all 50 states goes to support one program. That program is Medicaid…Now that Hussein and the democrats decided to support thirty or fifty million more more persons depending on the wildcard number of illegals, what will the new figure be??? Our country is being systematically given away by vote-buying politicians…They keeping writing checks that can’t possibly be cashed by the tens of trillions…

  10. 20% of state budgets of all 50 states goes to support one program. That program is Medicaid…Now that Hussein and the democrats decided to support thirty or fifty million more more persons depending on the wildcard number of illegals, what will the new figure be??? Our country is being systematically given away by vote-buying politicians…They keeping writing checks that can’t possibly be cashed by the tens of trillions…

  11. 20% of state budgets of all 50 states goes to support one program. That program is Medicaid…Now that Hussein and the democrats decided to support thirty or fifty million more more persons depending on the wildcard number of illegals, what will the new figure be??? Our country is being systematically given away by vote-buying politicians…They keeping writing checks that can’t possibly be cashed by the tens of trillions…

  12. I would like to see a President Perry and his VP Jim Demint





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