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Saying the government has looted Social Security is another favorite falsehood perpetrated by the right wing. The SS fund is transferred into US Treasury Bills which, for those not aware, is the safest and most coveted financial instrument on the planet. Even with the world economy in it's present dire straits, the demand for US TBills has never been higher on the world markets. What did you expect them to do with the SS revenue? Shove it under the matress in the White House?
So, the lefties are lying when they say that we need a "lock box" for SS?
Saying the government has looted Social Security is another favorite falsehood perpetrated by the right wing. The SS fund is transferred into US Treasury Bills which, for those not aware, is the safest and most coveted financial instrument on the planet. Even with the world economy in it's present dire straits, the demand for US TBills has never been higher on the world markets. What did you expect them to do with the SS revenue? Shove it under the matress in the White House?
It's a "fund"??? Then why did 0bama tell us that he could not guarantee that SS checks would go out if the debt ceiling wasn't raised? What about the fund? Or was 0bama playing political games with senior citizens, and lying to us???
It's a "fund"??? Then why did 0bama tell us that he could not guarantee that SS checks would go out if the debt ceiling wasn't raised? What about the fund? Or was 0bama playing political games with senior citizens, and lying to us???
I won't say lying, but yes, he was playing the scare game. Most of us were bright enough not to fall for his tread, but there seemed to be some that actually believed our checks would not be in our bank accounts.
I won't say lying, but yes, he was playing the scare game. Most of us were bright enough not to fall for his tread, but there seemed to be some that actually believed our checks would not be in our bank accounts.
Nita
This is true and I agree with you on this. It was pure politics on his part.
FYI, noting the fact that Social Security is a Ponzi scheme has been a standard part of the GOP platform for many years. It's not in any way radical or new, and whatever elderly voters that might have scared off would have left the GOP years ago.
Everyone's favorite "moderate" Republican, John McCain, has been saying the exact same thing since at least back in 2008:
That is correct, and it does not make the statements made by the GOP any less true. When the Democrat controlled Congress put Social Security revenues into the General Fund in 1968 to pay for LBJ's "Great Society" and "War on Poverty", they fundamentally changed Social Security.
Every session of Congress, since President Nixon was first elected (Republicans and Democrats alike), has used Social Security revenues for discretionary spending. The Social Security Trust Fund currently accounts for $3 trillion of the National Debt. It has become nothing more than a ponzi scheme since 1968, and remains so to this day.
It's a "fund"??? Then why did 0bama tell us that he could not guarantee that SS checks would go out if the debt ceiling wasn't raised? What about the fund? Or was 0bama playing political games with senior citizens, and lying to us???
Quote:
Intragovernmental Holdings are Government Account Series securities held by Government trust funds, revolving funds, and special funds; and Federal Financing Bank securities. A small amount of marketable securities are held by government accounts.
The intragovernmental portion of the National Debt is currently $4.5 trillion, of which the Social Security Trust Fund accounts for $3 trillion, or two-thirds of the entire intragovernmental portion of the National Debt.
The first Congress that votes to weasel out of Social Security will be voted out the next election. This issue could trip up this otherwise strong candidate.
The first Congress that votes to weasel out of Social Security will be voted out the next election. This issue could trip up this otherwise strong candidate.
Unfortunately you are right. I am sure they all know ths, but it can be reconstucted with proper education and not even starting with those who have paid in since they were teens: I am referring to those who are say, 50 plus now. If changes were made, starting with those who are say, 35 (retirement is a long way away for them and they are hardly thinking of it) the program could be saved without putting the country into total bankruptcy or raising taxes on the entire country to support it.
Unfortunately you are right. I am sure they all know ths, but it can be reconstucted with proper education and not even starting with those who have paid in since they were teens: I am referring to those who are say, 50 plus now. If changes were made, starting with those who are say, 35 (retirement is a long way away for them and they are hardly thinking of it) the program could be saved without putting the country into total bankruptcy or raising taxes on the entire country to support it.
Nita
I like that thinking. I received mine the rest of you are screwed. I have been paying into social security for 30 years, but I would not be entitled to the same benefits that you receive. Fine, pay me what I put in and stop taking money out of my check to pay for your benefits.
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