Government Integrity and Ethics
The Government has promised benefits that they cannot possibly honor. The total net worth of the entire country (the country's total assets less liabilities) is slightly above $50 trillion.
If the Government confiscated everything in this country, the two programs would still be $50 trillion short, and the Government would still be insolvent and incapable of honoring its obligations. Furthermore, all companies and individuals would have been stripped of every asset they owned.
Perhaps Albert J. Nock was correct when he wrote:
"Taking the State wherever found, striking into its history at any point, one sees no way to differentiate the activities of its founders, administrators and beneficiaries from those of a professional-criminal class."
Regardless, our government, when it comes to Ponzi schemes, makes Bernie Madoff look like Mother Theresa.
Monty Pelerin www.economicnoise.com