Why Social Security Is A Really Bad Idea!

Posted: 3/7/2015

Trigger

Just read “Aus der Rentenkasse Griechenland leiht sich selbst Geld Die griechische Regierung leiht sich Geld bei der Rentenkasse des Landes - und zahlt es angeblich auch pünktlich zurück. Die Zinsen sind niedriger als auf dem freien Markt.”.

The new, leftist Greek government just ‘borrowed’ money from the Greek retirement savings system promising to pay it back later and to borrow it only for 15 days. Reportedly, it is undisclosed how much money the Greek government borrows, but it is estimated at least 4-5 billion euros.

For anyone, who is not following the news the Greece has been bankrupt and has been extremely indebted.

The U.S. Social Security

The U.S. Congress has for decades appropriated the surpluses of Social Security to spend the money on God knows what instead of responsibly reinvesting the money so that one day this pay as you go system could be replaced by a capital saving system.

Better even Social Security should be phased out in favor of private, individual savings for retirement!