Don’t get me wrong, Madoff deserves his sentence, but what about our government officials?????
Why did Bernie Madoff go to prison? To make it simple, he talked people into investing with him. Trouble was, he didn't invest their money. As time rolled on, he simply took the money from the new investors to pay off the old investors. Finally, there were too many old investors and not enough money from new investors coming in to keep the payments going. Next thing you know Madoff is one of the most hated men in America and he is off to jail.
Some of you know this. But not enough of you. Madoff did to his investors what the government has been doing to us for over 70 years with Social Security. There is no meaningful difference between the two schemes, except that one was operated by a private individual who is now in jail, and the other is operated by politicians who enjoy perks, privileges and status in spite of their actions.
Do you need a side-by-side comparison here? Well here's a nifty little chart.
BERNIE MADOFF Takes money from investors with the promise that the money will be invested and made available to them later.
SOCIAL SECURITY Takes money from wage earners with the promise that the money will be invested in a "Trust Fund" (Lock Box) and made available later.
BERNIE MADOFF Instead of investing the money Madoff spends it on nice homes in the Hamptons and yachts.
SOCIAL SECURITY Instead of depositing money in a Trust Fund the politicians transfer it to the General Revenue Fund and use it for general spending and vote buying.
BERNIE MADOFF When the time comes to pay the investors back Madoff simply uses some of the new funds from newer investors to pay back the older investors.
SOCIAL SECURITY When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the older geezers.
BERNIE MADOFF When Madoff's scheme is discovered all hell breaks loose. New investors won't give him any more cash.
SOCIAL SECURITY When Social Security runs out of money the politicians try to force the taxpayers to send them some more; or they cancel S/S to all those who paid into it.
Bernie Madoff is in jail.
Politicians remain in Washington with fat medical and retirement benefits.
I used to be indecisive. Now I'm not sure. I feel like I am diagonally parked in a parallel universe. 1968 400 convertible (Scarlet) 1976 T/A - 455 LE (No Burt) 1976 T/A New baby, starting full restoration. 1968 350 - 4 speed 'vert - 400 clone (the Beast!) 1968 350 convertible - Wife's car now- 400 clone (Aleutian Blue) (Blue Angel) 2008 Durango - DD 2008 GXP - New one from NH is AWESOME! 2017 Durango Citadel - Modern is nice! HEMI is amazing! 1998 Silverado Z71 - Father-daughter project 1968 400 coupe - R/A clone (Blue Pearl) (sold) 1967 326 convertible - Sold 1980 T/A SE Bandit - Sold
I've been saying this for a while. It's time to clean house and bring in new people on both sides of the political spectrum. Put in place term limits of four years, just like for the president. And when you're done serving your country, you go home and go back to what you were doing before. You don't get a hefty retirement or ridiculous medical benefits. It's time to bring in people with more than just a degree. We need leaders with actual knowledge of running a business.
