Bernard Madoff is now rotting in prison after pulling off one of the greatest private Ponzi schemes of all times. But like all Ponzi schemes--taking Peter's money to pay off Paul--Peter ran out of money and Madoff had to give up. Or as England's former Prime Minister Margaret Thatcher noted, "The trouble with socialism is that eventually you run out of other people's money." And now Social Security, the American government Ponzi scheme that makes Madoff's look like a game of Monopoly, is, as Kevin Williamson of NRO explains "officially broke." Analyzing the figures from the non partisan, and usually quite accurate Congressional Budget Office, Williamson notes [I]f you think that borrowing another $1 trillion from the bond market to shift money from one government account to another government account makes the nation $1 trillion richer, then everything's hunky-dory. But if you compare the program's tax income to its benefit outlays, without the...(Read Full Post)