Quote:
Originally Posted by Honus
I understand all that, although I don't agree that individual finances are analogous to government finances. Governments should run deficits from time to time.
If you will recall, I mentioned the United States' creditworthiness in response to your hypothetical situation where I would give you my social security payments, you would buy a refrigerator with the money, and give me an IOU. You said that is like Social Security. I said it's not like Social Security because, AFAIK, you are not the United States. |
Define "time to time". If you mean that every now and then, it runs a break even or surplus WITH NO ACCOUNTING TRICKS, fair enough. Lets look on the last few decades and see their recent history, shall we?
IOW, a true Ponzi scheme is only when someone else besides the govt runs it?