20100325-Stossel-[Congressional Ponzi].Fox Business.CF.avi

STOSSEL - The Biggest Rip-Off - Fox Business
2010, March 25, Thursday

Xvid/MP3 AVI - encoded from clean, SD composite source video

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Madoff, forget him! If you want a real Ponzi scheme, you'll need look no further than the Social Security statements your own US Government sends you each quarter.

"I.O.U.S.A.", an indie film, is excerpted for this show; the full film can be checked out here:


http://www.iousathemovie.com/about/

http://thepiratebay.org/torrent/4889131/

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[Excerpted from John Stossel's blog:]

March 25, 2010 10:00 AM EDT by John Stossel
Tonight's Show: The Biggest Rip-Off (FBN 8pm & 11pm ET)

Lost in the commotion over the CBO report on Obamacare this month was the "other" CBO report--this one on the president's budget. Some highlights:

* Trillion dollar deficits through 2011 and resuming in 2018
* By 2020, federal debt would rise to 90% of GDP.

And Congress continues the ignore the biggest debt: the $42 Trillion unfunded liability of Medicare and Social Security.

On tonight's show (Fox Business at 8pm & 11pm ET), I'll take a look at the burden that my generation is passing onto our children. We —the baby boomers-- are basically stealing from babies to pay our retirement benefits.

Rep. Paul Ryan (R-WI) and Mercatus Center economist Veronique de Rugy will talk about the financial picture we face. David Certner of the AARP will try to explain why this generational wealth transfer must continue. Author Joel Kotkin will explain how other countries have it worse (that’s actually good news—maybe we will learn something from places like Japan and Europe—where birth rates are lower—because their pension systems will explode first). Plus, I'll confront a lawyer who worsens the entitlement crisis by helping people hide assets so they can collect Medicaid benefits meant to go to the poor.