Washington, DC - Secretary of the Treasury Timothy Geithner called a press conference today regarding decades-old documents which have recently surfaced in one of the storage rooms in the basement of the Treasury.
"According to these documents, Social Security functions like a Ponzi scheme. People pay into it now to cover the expenses of others, banking on the fact that in the future there will be still more people paying into it. This should've been obvious, even to me."
President Obama had a slightly more relaxed outlook, saying, "Geithner, my man, chill out. You're the Secretary of the Treasury. You can just print more money. It'll be okay."
The dollar was down on the news.
"According to these documents, Social Security functions like a Ponzi scheme. People pay into it now to cover the expenses of others, banking on the fact that in the future there will be still more people paying into it. This should've been obvious, even to me."
President Obama had a slightly more relaxed outlook, saying, "Geithner, my man, chill out. You're the Secretary of the Treasury. You can just print more money. It'll be okay."
The dollar was down on the news.
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