The Social Security program is called a "pay-as-you-go" plan. What do you think that means? \?

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The Social Security program is called a "pay-as-you-go" plan. What do you think that means? \?

What problems can you foresee with such a system?

2006-11-21 08:15:34 · 2 answers · asked by jessiebabie824 2 in Social Science ➔ Economics

2 answers

easy. it means the people currently recieveing benefits under the social security program, are being supported by the people currently paying into it.

a problem? no, as long as my damn kids pay for it so i can collect benefits as well

2006-11-21 08:24:10 · answer #1 · answered by Mr. Kimmy Gibbler 2 · 1⤊ 0⤋

It's called a Ponzi Scheme.
Read all about it:
http://en.wikipedia.org/wiki/Ponzi_scheme

.

2006-11-21 08:33:01 · answer #2 · answered by Zak 5 · 0⤊ 0⤋