The difference between Belize and the USA/Escape from the zombie food court

[deadserious]

The corruption that irks me the most in Belize is the way judges can be bought, and "legal" judgements given that bear no relation to reality.  Yes, the corrupt mockery of the legal system the British left behind, where there is just a shell and what is inside it is manipulated by the rich and powerful to their own ends.

Well, "rick and powerful" means something different in Belize than in the US or UK. 

[clover]

The difference between Belize and the US when it comes to social security....is....surprise.....the same.

So what has the Treasury done with the money? Well, the federal government has spent it on its daily consumption: education, loan guarantees, wars, etc. In other words, the government has already spent the money it received in exchange for the IOUs. The most recent projections say that, beginning in 2014, the program will begin permanently paying out more in benefits than it collects in taxes. At that point, the program will start redeeming the IOUs in the trust fund and use them to pay benefits to current seniors until they run out. But remember, the money is not there anymore. So then what? In order to repay the program so it can continue to pay out benefits at the promised levels, the federal government will have to borrow more money, increase taxes to get more revenue, or print more dollars.

The only way Social Security payments to seniors won’t increase future deficits is if the federal government prints more money or taxes the American people a second time to pay back the money it owes to the trust fund. My guess is that the government will borrow more money.

http://reason.com/archives/2011/05/20/the-facts-about-social-securit