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Bipartisan Plan Summary Charts Confirm Key Deficit "Cuts" Come From Imminent Social Security Pillage

Tyler Durden's picture





 

For those who are about to get cerebral hemorrhage trying to figure out the ensuing math, don't worry: it is all based on Marx to Myth.

Chart 1: Where we are

Chart 2: Marx to Myth appears:

Chart 3: Step 1: Find a chart and photoshop it; Step 2: ..... ; Step 3: Profit!

And the culprit, Chart 4: EXCLUDES SOCIAL SECURITY SAVINGS

That's right, the Senate "Bipartisan" committee just admitted that it will be cutting Social Security, purely as a function of the change of the CPI definition and locking in COLA to the deflation in iPads. What? You can't eat or live in an iPad?

Tough.

Source: A bunch of corrupt fat and very rich assholes

 

 


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Wed, 07/20/2011 - 17:32 | Link to Comment sschu
sschu's picture

This is all so predictable and difficult to comprehend.  Give trillions to GS and AIG and then cut Grandma's source of income.

I hope there is a special place in hell for the people who caused all this, because they deserve it.

sschu

Wed, 07/20/2011 - 17:43 | Link to Comment AchtungAffen
AchtungAffen's picture

I don't understand where Marx comes in here. Looks like ZH has a problem identifying its demons. They all are Marx now, but damn they do look more like ZHedgers than they do them Lumpen Proletariat...

Wed, 07/20/2011 - 17:57 | Link to Comment AGuy
AGuy's picture

I don't see how this fixes the problem. The problem isn't COLA, is the number of Boomers retiring and collecting benefits. Every day there are 10K new entitlement recipients. Fixing COLA is like keeping a single water tap flow at a constant rate will adding new taps everyday each with their own constant flow. Its pointless and ridiculous to believe this will change anything. It won't even slow down the crisis.

 

Thu, 07/21/2011 - 01:37 | Link to Comment StychoKiller
StychoKiller's picture

Well, guess they need to add more smoke & mirrors, then.

Wed, 07/20/2011 - 18:08 | Link to Comment citta vritti
citta vritti's picture

@Mr. Poon - well said. 

I guess Tyler’s excuse is that’s what a sensationalist, albeit sensational, blog writer does, foment froth and discussion, even if whichever Tyler wrote it fully understands that something must be done about social security and other entitlements and everything else. Of course deriding the latest nearly if not entirely DOA POS to spew forth from a political institution, even if it only begins to address issues that usually only second-term presidents or other politicians leaving office will touch, is way easier than offering specifics along the way about how to fix what is unfixable in current form. Or does Tyler think that it isn’t broke and therefore shouldn’t be fixed? 

Just imagine how snarky the comments would have been if social security changes weren’t being brought forward for discussion. 

Wed, 07/20/2011 - 18:38 | Link to Comment Robert Neville
Robert Neville's picture

Pillaging Social Security? I don't think you can pillage something that was pillaged years ago.

Wed, 07/20/2011 - 18:50 | Link to Comment Catullus
Catullus's picture

Did they leave out the part about the underpants gnomes?

Seriously, I've seen better presentations from drunken frat brothers in southern business schools.

Wed, 07/20/2011 - 19:11 | Link to Comment Jovil
Wed, 07/20/2011 - 21:28 | Link to Comment Buck Johnson
Buck Johnson's picture

They are planning to get rid of SS and Medicare, plan all along.  And the babyboomers are just now getting to use or tap these things, they are going to be in for a big disappointment.

Wed, 07/20/2011 - 21:35 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

My grandparents never trusted banks or government.

They could never figure out why anyone would.

Wed, 07/20/2011 - 21:34 | Link to Comment fearsomepirate
fearsomepirate's picture

You mean besides the theft of paying into a Ponzi all their lives and expecting it to be paid for by robbing their grandchildren?

Wed, 07/20/2011 - 22:55 | Link to Comment Bastiat
Bastiat's picture

How about a tax credit or at least a loss write off for all the money I've paid in to SS?  Why not offer a deal like that to  buy out the "rich."  Kind of a self-selected needs test.

Thu, 07/21/2011 - 01:37 | Link to Comment Pete15
Pete15's picture

this is great bravo, I pissed myself reading this 

Thu, 07/21/2011 - 10:22 | Link to Comment MichaelRivero
MichaelRivero's picture

All those payroll deductions for Social Security taken from your paycheck were invested in US Government debt. Social Security holds almost 20% of the total US Government debt, more than China and more than the Federal Reserve. And what the government has decided to do is that in order to not default to China, or the Federal Reserve, or to risk their credit ratings, they will stiff you, the taxpayer, you, the American people.

The claim that Social Security must be cut because it is unfunded is a lie. YOU funded it! You fund it with every single paycheck you receive. The government borrowed that money and now they cannot put it back. The US Government has embezzled your retirement, stolen your money to give to Wall Street, and is trying to find some way to trick you into believing this is acceptable behavior.

Thu, 07/21/2011 - 10:48 | Link to Comment tip e. canoe
tip e. canoe's picture

drupe

Thu, 07/21/2011 - 10:42 | Link to Comment tip e. canoe
tip e. canoe's picture

"The US Government has embezzled your retirement"

embezzled is a great word and should be used much more often when discussing this subject.

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