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Wait..the boomers are just starting to turn 65 this year. So how are they greedy and depleted the fund if they are JUST STARTING to receive the benefits ?
No, it's not the greedy boomers you want, it's the greedy government who "borrowed" that money and spent it somewhere else.
And if you don't like the Heritage Foundation there are plenty of liberal think tanks that have much the same thing.
No there aren't, because the Heritage Foundation is lying. Since when are US Treasury securities a bunch of worthless IOU's? What did all those shocked and stunned equity market players run to in a "flight to safety" in September 2008? To US Treasury securities, that's where. They are the safest and most secure investment vehicle in the history of the world. Not a single penny's worth of principal or interest has ever been defaulted upon in well over 200 years. They are the standard against which the security of every other investment vehicle in the world is measured. Worthless IOU's. What a bunch of right-wing hokum...
Baby boomers weren't born yet to create SS. LOL We got SS foisted upon us and being stuck with it we are trying to survive. These are how ponzi schemes work though. The government is the biggest scammers around and only Madoff was sent to prison doing it.
Ponzi scheme? How does SS differ from any other insurance operation, can you explain that? They all pay current claims benefits out of current premium receipts, and then salt an increment away to serve as reserves against extraordinary claims in the future. Is that what Charles Ponzi did??? Hmmm???
I know... You cant, thanks for sharing... I ignored the rest of your babble because of your non stop "Blame Bush" bs and because it is simply a repeat of what I already said.. I know all about SS being backed by the US Govt, that doesnt mean that the fund isnt full of IOU's due to government deficits..
That's pretty weak, even as concession speeches go.
By the way, another day off for Fed workers in the DC area tomorrow. Hope you went long on Orville Reddenbacher last week.
Last edited by saganista; 02-10-2010 at 08:57 PM..
That's the CBOE interest rate index value. Like to convert that to a CMT yield?
The 8%+ cap on GSA investments is a yearly yield.. Is there a reason why the 10 year note rates are relevant to the topic, other than to show that they are up 40% from a year ago?
Ponzi scheme? How does SS differ from any other insurance operation, can you explain that? They all pay current claims benefits out of current premium receipts, and then salt an increment away to serve as reserves against extraordinary claims the future. Is that what Charles Ponzi did??? Hmmm???
Because other insurance companies hold hard assets, real assets, which provide accounts receivables to pay claims..
There isnt an insurance company alive on the planet which could operate by claiming their assets are held at another company, also controlled by them, with the other company being broke and in debt trillions of dollars..
Does this concern any of you or does it not come as a surprise?
Uh, Social Security and Medicare is what you Conservatives like to call "Socialism" if anything, we would be building it up. You can't have it both ways.
because other insurance companies hold hard assets, real assets, which provide accounts receivables to pay claims..
There isnt an insurance company alive on the planet which could operate by claiming their assets are held at another company, also controlled by them, with the other company being broke and in debt trillions of dollars..
+1
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