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This doesn't make much sense, the money is in refining certainly not retail. Unless their refineries are dated?
They seem to be spinning everything off. A couple months ago they shed their chemical research arm, which I would think would be a potential gold mine.
I agree it's a Ponzi scheme. But that wouldn't balance the budget, just get rid of one of the biggest things that's headed toward going belly up. Or maybe you're saying to keep the social security payments, but just not have them go into social security, but rather into the general budget? Oh, wait, that's what we already have been doing for many years, and the reason Social Security is sitting on nothing more than a huge pile of IOUs. I'm with you, but just don't see it fixing things all the way.
I haven't seen an analysis of how stopping Social Security payments, while continuing to take in revenues, would balance the budget. So, color me skeptical. And of course it'll never happen, as AARP and company would never remotely let such a thing happen, until maybe it's bankrupted and there's no money to pay out. But, as usual, we as a nation will wait until disaster is about 3 inches in front of our nose before making any sort of tough decisions.
Nuance Scooby, nuance. It depends on how much would stop going out, how much would continue coming in, and how out of whack the total budget is. I don't know what those numbers are, and I won't jump to the conclusion you apparently have.
Simply put, the difference is that a Ponzi scheme is designed to eventually screw over the investors after it's no longer possible to get more investors, it depends entirely on being able to get more and more. SS always has new investors. So unless no children are born or people stop paying in, it's impossible for it to be a Ponzi scheme. In fact by trying to get it changed so SS is privatized republicans are trying to make it into a Ponzi scheme.
