Hey, that’s the way the US Govt handles the Social Security fund. Money in from “investors” is paid out to those who started “investing” long ago. The soc sec fund should have been invested since its inception, just like any other pension fund. But if it had been, then Congress couldn’t have spent the fund for everything from rubber bands to F-16s. So Congress said no to investment.
Spooky D Cat over 12 years ago
Hey, that’s the way the US Govt handles the Social Security fund. Money in from “investors” is paid out to those who started “investing” long ago. The soc sec fund should have been invested since its inception, just like any other pension fund. But if it had been, then Congress couldn’t have spent the fund for everything from rubber bands to F-16s. So Congress said no to investment.