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That definition makes sense, although why shouldn't it be compound interest?

OK compund interest


Your first sentence here seems to be disconnected from the rest of your statement. People were too stupid to save for their retirement, or at least had too many eggs in one basket (wall street and the bank) when the market collapsed in 1929, which is also stupid (although seemingly less stupid).

Government didn't cause the stock market to crash in 1929, the private market did that. One could argue rationally that the FED, which was set up 15 years earlier failed to PREVENT the failure, but that is different than CAUSING the failure. The stock market has nothing to do with retirement, but I can see why the government says the people are to stupid to save for retirement. Through your working life you put money away and you put it in many different places to spread your risk, if anyone even today has all their money strictly in the stock market their why the government is right, people are to stupid to save for their own retirement.

Ultimately the government is what the people make it. Obviously if government fails, it means we the people have failed, we're a democratic republic after all. I didn't vote for Obama

SS will be completely solvent through 2037, which is more than 100 years since it was started, and will be able to pay out funds until 2084. Not many private endeavors do that well do they? Yes, there are problems with SS, but they are surmountable.

7 Ways to Make Social Security Solvent - TheStreet You must grow your own pot.

My biggest gripe is that people whine about government entitlements, but then the very same people are the first in line demanding their entitlements. Conservatives whine about the system being a failure, yet they want to do nothing to save it, and they still want their handout that they feel they have coming. They can't have their cake and eat it too. Either they have to be willing to sacrifice some of their entitled benefits, or pay more taxes, or abolish the system and declare all benefits null-and-void, even the ones they think are rightfully 'theirs'. Wow, have you been watching your Dem's at work, I mean they are really attacking the budget these days, yet it's the Pubs that are making all the cuts and it's the Dem's trying to stop them. You liberals make up crap that I just a big belly laugh out of.

Right NOW is the time to make minor adjustments. SS insolvency is like a meteorite that's going to hit the earth. Nudge it early and you stave off disaster. Wait until it enters the atmosphere and the world's combined nukes can't stop it. Yep when you got your own pot plants you can stay in a daze. 14+ trillion in debt is nothing to worry about. Last month we had the largest deficit in US History and that equals 1.5 trillion more added to the national debts. But heck the US is not broke, SS is riding high on cash, and Medicare is also flush with money. Medicaid is a state problem and all the states are flush, with plenty in the bank. You must have some really good shit your smoking.