When Does the US Government Become a Ponzi Scheme? (Micheal Burry) (opens in new tab)

I thought this was going to be about social security. Which is an actual Ponzi scheme in that the math relies on more young people working than retirees, which is quickly becoming untrue and unsustainable.

Everyone is worried about discretionary spending, but that's less than 1/3 of the US's budget.

I thought this was a settled issue: the date is August 15, 1971. This is the exact date the US Government became a Ponzi scheme. On August 15 1971 gold was $35 per troy ounce. Today it's 3342. Not to worry though, all other governments are Ponzi schemes, too. We do not need to run faster than the bear - only faster than the next guy.