Biggest Ponzi Scheme Ever

002 - His 401k - Ponzi SchemeFor 39 of the past 40 years the US government was allowed deficit spending. Our federal government is providing us with more services than we are paying for. The difference (the deficit) is made up by the US selling more Government Bonds that will be paid in the future by later tax payers.

By definition, a Ponzi scheme is an operation that pays returns to current investors (tax payers) from the money paid by subsequent investors (our kids and grandkids). It usually offers returns that other investments cannot guarantee (living above our means).

The 2008 deficit was:

  • $12 Trillion current liabilities
  • $ 7 Trillion unfunded Social Security obligations
  • $34 Trillion unfunded Medicare obligations
  • $ 1 Trillion miscellaneous (federal insurance, loan guarantees, leases)

$53 trillion is what the Federal Government currently owes and translates to:

  • $184,000 per person living in the US
  • $435,000 per full-time worker
  • $483,000 per household

Just for perspective a trillion is 1,000,000,000,000 or one million million

To get a better perspective go to

Or rent the CD “I.O.U.S.A”

It is all very sobering!

About the author

Michael Chamberlain, CFP®

Hello. My name is Michael Chamberlain CFP®, the principal of Chamberlain Financial Planning and Wealth Management. Our firm is “fee-only” with offices in Sacramento, Campbell and Santa Cruz California. “Serving clients from the mountains to the sea.”

Our mission is to help clients realize their full potential today while planning for an abundant tomorrow through comprehensive financial planning and collaborative decision-making.

As an experienced investment and planning professional, I have had the privilege of being interviewed by and contributing to hundreds of articles in such publications as Money Magazine, Financial Planning Magazine,,, Nerdwallet,, Yahoo Finance and more.

I hope that you spend some time at the FiGuide site and learn more about the financial matters important to you. To learn more about our firm, visit our website or give us a call at 800-347-1340.

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