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The Next Stop In Obama's Political Suicide Tour: Announcing Social Security Cuts During State Of The Union Address
Obama's latest quid-pro-quo with the republican party over a doubling down on fiscal stimulus in the form of mutual back scratching, funding by yet another trillion in debt, may have well be the start of his toxic spiral to the the bottom of political insignificance. According to Politico, "The tax deal negotiated by President Barack Obama and Senate Republican leader Mitch McConnell of Kentucky is just the first part of a multistage drama that is likely to further divide and weaken Democrats." Next up on the path of what many see as the terminal alienation of the president from his liberal constituency, will occur during the next State of the Union Address, when the teleprompter in chief is expected to announce cuts in Social Security, according to Politico which quotes "well-placed sources." Why will the president pretend to espouse even an ounce of fiscal prudence? Because, around that time the discussion over the US debt ceiling will be in full heat: we expect total US debt to be about $14.1 trillion by the end of January: just a $200 billion buffer from the debt ceiling breach. Therefore, as Robert Kuttner of politico speculates: "The idea is to
pre-empt an even more draconian set of budget cuts likely to be proposed
by the incoming House Budget Committee chairman, Rep. Paul Ryan
(R-Wis.), as a condition of extending the debt ceiling. This is expected
to hit in April." And as Kuttner once again phrases it best: "How to put this politely? For a Democratic president, this approach is bad economics and worse politics."
More from Politico:
For starters, cutting Social Security as part of a deficit reduction deal is needless — since Social Security is in surplus for the next 27 years. The move also gives away the single most potent distinction between Democrats and Republicans — Democrats defend your Social Security, and Republicans keep trying to undermine it.
If you think the Democratic base feels betrayed by Obama’s tax-cut deal, just imagine the mayhem when Obama proposes to cut the Democrats’ signature program.
Sen. Al Franken (D-Minn.) compared Obama’s tax deal to punting on first down. A pre-emptive cut in Social Security is forfeiting the game before kickoff.
Obama is already in trouble with older voters. Republicans have succeeded in convincing seniors that the health care reform bill diverted money from Medicare.
With his recent tax extension compromise Obama has effectively checkmated himself into a corner from which not even his delightful onscreen charm can extricate him:
Consider what the right will do when Obama moves to cut Social Security. Republicans, with no sense of contradiction or hypocrisy, will whack Obama once for not being sufficiently serious about deficit reduction — then whack him again for cutting Social Security.
As for what next steps are, it may just get a whole lot more interesting to all those who follow the MOVE index:
As for the Republicans’ leverage on raising the debt ceiling, a more resolute president would dare the Republicans to jeopardize government bonds, just as President Bill Clinton dared Speaker Newt Gingrich to shut down the government. One hopes that Clinton, in his recent visit to the White House, reminded Obama that Gingrich blinked first. But Obama’s trademark is that he blinks first.
There was brief talk in the House Democratic Caucus on Tuesday night of tying an extension of the debt ceiling to the tax deal, to deprive the Republicans of that leverage. But that support crumbled in the face of White House lobbying and overwhelming Senate support for the deal. Obama, who gives in repeatedly to Republicans, turns out to be highly skilled at isolating Democrats.
And another observation, which has to do with not only decision making in the beltway, but the increasing incursion by Wall Street into both the fiscal and monetary decision process in Washington: now that Obama has no economic advisors left aside from Geithner, it is up to Tim to call up Jan Hatzius daily and get his thoughts on what should be done. Of course, the end result is one that is in Goldman's best interest, and in America's worst:
Beltway Washington —
the editorial writers, columnists, centrist policy organizations, Blue
Dogs and, of course, the Obama administration and its Wall Street
advisers — has become an echo chamber of bad advice.
End result: no second term for Obama, as his shallow rhetoric is exposed for all to see that it is nothing but a deflection from the fact that his entire platform is falling asunder:
Obama is finally getting the bipartisanship he craved — but entirely on Republican terms.
Republicans win three ways. They have a Democratic president doing their work for them, destroying the Democratic capacity to use affirmative government to address dire national problems and annihilating his own party.
And for an economy, in which the market has become nothing but a policy tool, we believe that the rising temperature in DC, is about to manifest itself in a surge in market volatility, which on Friday hit a near record 2010 low, although not only in stocks, but across all asset classes, as we have been demonstrating patiently over the past month. Should that vol enter bonds, and just a few days ago we had a 6 sigma event in the 2s5s30s, which we will describe shortly, this would mean some very painful derisking in that most important of asset classes, and a rapid test of just how accurate Jim O'Neill's prediction that surging bonds rates are really nothing but a boon to the economy.
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Barry is just pulling a Liebermann--nahhh, I'm sorry, but Anti-Christ seems fair at this point.
Find out just what any people will quietly submit to and you have the exact measure of the injustice and wrong which will be imposed on them.
Frederick Douglass
“America is false to the past, false to the present, and solemnly binds herself to be false to the future.” - F.D.
There is no constituency for austerity.
I know what my old friend Tom the Commercial Fisherman would say about Obummer:
"He's a worthless cock sucker..."
Now I know why I find myself visiting ZH less and less. ZH has really created a following of screw the Disabled, Old and sick. As long as I don't have to pay 50 bucks out of my pay check so I can buy more crap or an ounce of Silver. Yea lets follow the Bankster and Gov't in every man for himself. Fuck you and hooray for me attitude.
Social Secuity is the Biggest Fake crisis in the history of this country. I thought every body understood this. It is the Gov't who stole the money to create this problem. Remember it is a "TRUST FUND", not a general fund. Anyway it is NOT a hand out, it's money YOU and I contributed for ones retirement. It's NO Different then your 401k,IRA,etc. Why does every body consider this a handout. Is it to go along with the theme here at ZH? And, oh yeah, who cares if our parents are on the street, as long as we don't have to pay.
Your disappointment understood, but you really ought to read more closely if you continue to visit ZH: Your values are just as avidly and frequently expressed here as the ones you comdemn.
Say hi to everybody over at dailykos for me!!!
Blow it out your anti semetic ass lib. sodomy
I don't have anything against Arabs.
I agree that "It is the Gov't who stole the money to create this problem." But, you fail to realize that they stole it from every individual by FORCING us to pay into "Social Security". It is stolen money to begin with.
That's a load of crap. The gov't hasn't yet put a gun to my head, threaten me with time in a gubmint rape cage, to force me to pay into a 401K or IRA. These ELECTIVE funds, while I have personally elected to liquidate mine to buy physical gold, silver and lead, are not stolen money like Social Security.
It is most pathetic to witness slaves whine about how the money that was stolen from them is spent by the crooks they voted for. You thought it was a "TRUST FUND"? Well, surprise, surprise, surprise... sucker.
First of all the trust fund was meant to state it was set up so it couldn't be touch. Second of all, you seem like the type that would thought your parent in the street if SS was gone so you could by Gold, Silver and LEAD.
Yea Lead for the Doom and Gloom of Armageddon. Look out behind you, thier coming to get you. Quick, Pull that six shooter!!!!!!!!
Ha ha ha... Actually, I believe in charity and take care of those around me. It is easy to behave generously when it's being done without a gun being put to your head.
I personally do not care what happens with the stolen money. It has been stolen. There are the leeches who wish to fight over it. But, I don't have a dog in the fight.
"Doom and Gloom"? Is that what you collectivists are calling "Freedom" these days. I'm not surprised.
Collectivism is any philosophic, political, economic or social outlook that emphasizes the interdependence of every human in some collective group and the priority of group goals over individual goals. Collectivists usually focus on community, society or nation.
So that makes you, RAMBO. Couldn't fit you any better.
You communists are malevolent pieces of shit no matter what you call yourselves.
Well, I actually do have a pretty nifty Rambo-like knife I take on camping trips. And, I would like to have a Rambo bow with exploding arrows, but I think the free market has been stifled there. But, I don't think anyone who knows me would ever classify me as Rambo - especially with his military experience. No desrespect to those who did time in the military... I'm sure there are many who tried to do the right thing for the right reasons. But, to say the least, wearing a costume and training to kill brown people who live on top of oil reserves doesn't really float my boat. Sorry to dissapoint your Rambo fantasy.
Correction to my previous statement: I said "I don't care what happens to the stolen money." Actually, I believe every penny of SS stolen money should be returned, adjusted for true inflation, to those who it was stolen from. Obviously, in a corrupt world with collectivist suckers like you that think voting for free shit will continue forever and you'll never run out of other people's money, the return of stolen booty is entirely unrealistic. So, again, I don't have a dog in the fight. But, I truly hope you enjoy the battle over who gets the stolen money. It should be a fun and rewarding use of your time <chuckle/>
it's a shame you 2 choose to slap each other silly cuz
a) it seems to me you're making the very same argument from polar opposite viewpoints.
b) if you were to combine your argument together, you might have a very effective tactical weapon on how to wake up more of the so-called 'sheeple', regardless of their ideology.
hint: it's all in the word 'TRUST' and the utter hypocrisy contained therein.
Once that bulb gets a bit brighter you'll discover "life is a bitch" and "life isn't fair".
Deal with it.
Please drive thru.
Check out these video(s):
http://reason.com/blog/2008/10/24/saving-social-security-episode
Then examine your premises.
More from Politico:
For starters, cutting Social Security as part of a deficit reduction deal is needless — since Social Security is in surplus for the next 27 years.
Wow. Somebody at Politico can't do math and hasn't checked with the Congressional Budget Office lately.
Right on.
I wonder why all other commenters completely ignore that sprout of farcism.
The premis of the article is that Democrats are incompetent - or borderline negligent - and being run out of town on a rail with the help of the party's leader.
I don't buy it. The Democrats cannot possibly be that incompetent and the President that bumbling.
The real truth is that the Republicans and Democrats are 2 branches of the party of 1, to use the language of Gore Vidal.
And if so, and why not, then politics is nothing more than scripted theatre and real democracy has faded into the illusion of a memory past.
It's very simple really, and once the reality is grasped there is no longer a need for disappointment.
Call it an inside the beltway power sharing arrnangement that circumvents the voter, but maintains the facade, institutions and the impression of the democracy.......for now.
Obama is the most gutless politician I have ever seen. And I mean jaw dropping gutless. Just goes to show you that he was under qualified for the presidency.
He's an amateur politician trying to compete with professionals.
no argument.... but you have to understand all's he was doin' was adding a spot to his resume for his interview with GS.....
i would say it's more heart than gut he's missing.
heart and/or soul.
This is probably what Rahm Emanuel planned all along: disenfranchisement of the liberal wing of the Democratic Party. Rahm calls "liberalism" as a mental disease as in being retarded. This is probably a result of disillusionment of Jewish ex-liberals who found themselves circled by progressives enamored with Palestinians rights.
I find it rather amusing watching/listening to most people discuss the idea of liberalism.
Liberalism is defined by:
1) Individual freedoms
2) Property rights
3) Protection from excessive government
I know that the illiterate will junk me because of their Ann Coulter inspired definitions of liberalism.
If you agree with any of the above three points, you are a liberal. Do not let people who know nothing distort the meaning of the word. Liberalism is NOT socialism, communism or fascism as many, particularly "right wing" American conservatives like to spout.
Learn your terms before you use them otherwise you make yourself look rather... dumb.
Family is the perfect free market alternative to SS. If you choose to be a greedy, self centered asshole your whole life, and raise hell spawn for kids, the consequences will come back to haunt you. That more than anything else, is why baby boomers are scared about losing their benefits.
Very good point.
I have always been a firm believer that there is plenty of justice to be found in this world.
The boomers will be getting "theirs" in spades. Soon.
I'm at the tail end of the boomers, and swim amongst them. All the ones I know don't think like that at all. We don't count on SS, or even think SS it will be there, even for us. We knew it was a Ponzi scheme and going to come to this 30 years ago.
We worry for future generations that have been sold down the river to the greedy banksters. The boomer's life savings are already being bled out by debasement of the currency and being redistributed to the Goldman Sack and the JP Morgue.
I didn't catch his name a week or so ago, but a German industrialist was being interviewed on CNBC and stated that he had no problem paying taxes that, in Germany, are far higher than he would pay in the USA. The somewhat stunned interviewer asked why. "I do not want to be a rich man in a poor country."was his reply.
Stop the rants about Social Security, folks. Your privileged ignorance is showing. You've never lived in world without social security and you're behaving as if everyone is smart like you when the average IQ will always be 100. If you can handle your retirement, fine. I retired 14 years ago, at age 43, thanks to my own efforts and the good luck of knowing where the right place was and then going there and waiting for the right time. I paid a hellahuge IRS bill when I sold my companies. So what? I kept plenty. I'd rather have that tax money I payed ensure a better standard of living for my neighbors than buy another dozen or two Hellfire missiles... even if you do day trade their manufacturer.
wow, a communist on cnbs? Wonder how THAT slipped past the screeners.
Communist? Not at all. A realist, even in Germany, where shotguns are commonly owned. Shotguns are not expensive. The difference in the USA is the "cash out" mentality of my generation - you can't start a business or grow one without the vitally important exit strategy for your investors. High yields with a fast IPO or sale must be part of any startup or mezzanine package. (Bill Gates might not be a lot of thing, but he did survive his VCs...) The US is a short-term nation, historically and economically. It's empire isn't 70 years old. The poor, on the other hand, will always be with you, and we're making more of them every day. Knowing this, the rich obviously have an exit strategy for that reality, too. They'll bail, believing their investments will spare their gene pool and that they won't be tracked down eventually by their own short-term, self-centered mindset. The German fellow simply stated that he'd prefer to live where he lives and continue to work rather than live life on the run.
They should kick out all the blacks and muslims who have no business in Germany and save themselves some euros while cleaing up their cities at the same time.
Don't feed the trolls.
Many of us who have retired early share your sentiments but not your solution to continue to pay into a discredited system that only prolongs more suffering and steals future opportunity from other individuals and our Republic.
Socialism is theft of private property, and so is social security and medicare. Humanitarianism and social justice have always been the marxist marketing tool to tell gullible people what they want to hear, which is to tell people they deserve something for nothing. That intelligent people still fall for such things shows how effective steady propaganda can be.
There is no SS trust fund, it was stolen long ago, and few of the thousands of government programs that exist actually work, or, work better than a private sector alternative. The effect of socialist programs is fraud and abuse that prevents real help getting to where it is needed. The sound and fury coming from Washington these days is merely the protestations of the lies and liars finally getting sussed out.
Friedman showed that the economy and the average person is far better off privatizing entitlement programs. Only common sense is required to know that when money is run through government far less always comes out the other end, and the needless suffering is the difference they take, which is enormous.
As far as I can tell, there is a Trust Fund, though the real-time cash flow has been used to pay present obligations and the receipts for those funds are US Treasury notes. Are you saying the US Treasury will default? Really? Well, if and when it does, a lot more than Social Security will have problems.
I had no problem paying my taxes when I sold my companies. (See my earlier comment about exit strategy - a sale was part of the plan :( I've lived my life, as have you, taking great advantage of the commons an organized government provides. A percentage of my wealth paid for that privilege. I kept a much larger percentage. If one is living in a place, using the commons without payment, one is simply a freeloader, not smarter than everybody else.
That's all nice and fine, but you must also accept reality that SS in its current form is unsustainable. So make proposals to get it sustainable again instead of accusing others of ranting.
Peak Oil, Bitchez. Nothing of today's economy is sustainable. That's why the guys with the research departments, who used to make long term loans to people, have looted their neighborhood. There is no long term future for an oil-fired economy. That is no reason to hand the looters your countrymen's old age pensions before the system implodes.
In 1933, few lived much beyond 65; so the whole idea was really theft. Now medical advances let many live to mid 80's. Those 15 to 20 years are a big reason for the insovency but even more is the fact that there are so few true payers anymore as a % of the population. Half the working age population doesn't pay diddley on April 15th; they actually get a refund. Socialism at its worst.
The money stolen from each check by roosenveldt the jewish communist traitor was never meant to be paid out. This is the fly in the ointment.
The lessen from Europe is that socialism still doesn't work, and it never will. It only helps the banks get richer and run shadow governments through crony capitalism and debt. Ask the Irish. How smart can Obamao be if he never got that memo from the 20th century? He's another player and sell out like the rest.
The private sector is restructuring and deleveraging and it's way past time for government at all levels to do the same thing on an effective basis. Milton Friedman showed that the economy and the people would be better off SS and Medicare were privatized.
Unfortunately, the real prize now is for the politicians to grab your IRAs and 401Ks for the banksters. Democrat talk of tweaking entitlement programs is just a foot in the door to raid private pensions. There will be a another "debt crises" so they can do it. They are just putting it on the table to be carved up later.
http://www.youtube.com/watch?v=sJeFrqBJF6E
B'Rock O'Bottom is showing himself to be the political whore he always was .........and always will be. Bending over for the bankers, and screwing the taxpayers. What a POS this man really is.
Stimulus is just another Orwellian term.
Stimulus = pay raise for CONgrifters
Stimulus = no cola for SS
Stimulus = SS cuts
Stimulus is a car battery applied to your genitals -- stimulating? Yes -- pleasurable? Not so much!
Ah, yes. The thrill that ran up Chris Matthews' leg. I always thought that guy was a perv.
Tax cut extensions for the horders, social security cuts for the elderly. Great. Now that obama has broken the trust of the social security fund, we can cut it. What a fascist fuck he is. Social security, a great deal for the american public, is on its way to history. Good luck having this in 'money' instead of 'trust'. I'm sure they won't steal it 1/1000th as fast as everything else.
Barack 'the limp chicken cock' NerObummer, a fascist fuck, who will bow to the fascist tea party and republicans. Fascism isn't just on the march, it's in power on both sides, completely and utterly. Which shouldn't be anything new, but now it's just going to be all out in front of us from this point onward.
Rand Paul and Barack Obama, two fascist fucks who will continue to piss America away. One's an austrian, the other's a Keynes/austrian flip flopper depending on which BANKSTER MONETARIST FASICST side gets him to blink first. But both are bankster whores willing to sell you out. Both spout nothing but anti-american ideals, just guise them to their bases. Both sides bases, are dumbfuck to believe they are patriots, instead of just selling out their country to the lowest fiat dollar bidder.
Pucker up, it's the fascist austrians turn now. Watch how clueless takes on a whole new level now. Austerity, cuts to the public, all under the guise of bullshit right wing ideals that are a fantasy in insane minds, that in practice reveal their evil foisted upon everyone.
But the austrians want their chance at destroying the monetary system, now's their chance. It won't be long before people think austrian is even stupider the keynes. Not that it matters. Both are bullshit, and now the president has joined the other side. Fascism, enjoy the republican ideal, as if the prior 40 years hadn't swayed you it was bullshit, here comes the most left-leaning liberal senator in the senate, being a right fascist winger.
I seriously don't know why a republican wants to get rid of the guy, he's behaving almost perfectly fascist for them. Are queers really that important? It wasn't the right wing fascist think tank version of healthcare was it?
The idiots still haven't figure out that Nero hasn't governed anything BUT right wing fascist whore. Put Nero up to Reagan and he makes Reagan look like Bernie Sanders. But what's reality in today's anything but the company line out of the banksters is 'liberal'. Bankster tax cuts, Bankster social security cuts, and no TRUE patriot, supports either. But those that do are in retarded monetary world, and think in terms of a monetarist about all spending and tax issues. Which means they are a fool. Enjoy your fascists. At least Nero was a liar, the right is openly fascist. But the right has a mandate now to be fascist, and they will be fascist. Idiot public.
If he does this, he won't be the dems nomination in 2012. 0 percent chance. See ya later Nero, have a good retirement. When this finally implodes on the idiot fascist tea party, and they are exposed for the idiots they are, it will be quite a day of reckoning. Small business is screwed for good now. Only MNC's now. Bankster and tea party approved. They got a friend in the white house. People better believed that the 'change that happened'. The left never took back shit, only the idiots think otherwise. Which happens to be most of the left, since most believed they had taken back power. Nope. Just fascist dems, replaced because of acting fascist, by more fascist people. Do the people really think anything other than fascism will happen with fascist tea party and republicans in charge? More of what you voted against, brought to YOU by the tea and republican partieslk, with a little nero help.
I can't wait for the nero/center/republican/tea party sham to unravel and show you that the above are all being controlled by the same fascist monetarist side.
Patriots they are not.
Fascists they are.
Idiots about the constitution (yes Ron Paul is....again anyone viewing the consitution from a monetarist viewpoint, is and idiot and uncapable of understanding the spirit of it. Austrians do that EVERYTIME.)
The Hapsburg way of thing, is antithetical to the U.S. Constitution. Yet now we have the austerity kings for bogus debt brigade in charge. Forget party lines. They don't matter, especially when both parties are fascist right wingers. All monetarist schools of thought, are just that, monetarist schools of thought. The Constitution was all about anti-monetarism. So trust the fascist Pauls as far as you can throw them. Them & Obama, the enablers of our destruction, and only the idiots don't clearly, VERY CLEARLY, see it.
Check out these video(s):
http://reason.com/blog/2008/10/24/saving-social-security-episode
Reality ain't what you "Think" it is -- deal with it.
Don't let it piss you off, man. The bankruptcy of the states means the end of what has been commonly understood as "law enforcement" in this country.
Anyone properly motivated will get what he wants or die trying. Just hang in there for another year or two and you'll be able to sell hoarder-pelts on the innerwebz for gum money.
Wow. The whole thing is just outrageous.....the typical social security recipient has paid into it for most of their working years & now in a time of rising food & energy costs, real estate losses, stock market losses, no interest to be earned on their savings accounts, no jobs for the average 50 - 70 year old & the government wants to do what !!?? Target the most vulnerable & innocent among us........ the older / the elderly.
You know, if I didn't know better, I'd think there was a hidden agenda (policy) coming out of both Washington D.C. & Wall St. that is DELIBERATELY trying to conveniently rid the country of the boomer generation & starve the older generation to death ! They wouldn't deliberately do this now would they ? You see, older people remember a time when a bank was a place for savings & earning interest on that savings account. The older generation remembers a time when there were good paying jobs in this country & we prospered & raised families. The older generation remembers a time in this country when the FEDERAL GOVERNMENT didn't seem to dominate our lives....... well, hell, in the 1950's we didn't even know who was in WASHINGTON ! WASHINGTON D.C. has become an absolute circus of clowns / complicit with WALL ST. / FEDERAL RESERVE / LOOTING OF THIS COUNTRY ....... WHERE'S THE REVOLUTION, PEOPLE ! WHERE'S THE OUTRAGE !! WHERE ARE THE PITCHFORKS !! .......... WHERE'S THE GUTS !! ? .......... IF NOT FOR OURSELVES, THEN, FOR OUR KIDS & GRANDKIDS !!
END THE FEDERAL RESERVE BANK.
Tell that to the "In the long run we're all dead" crowd.
You forgot "where's the remote?"
I've been long bananas since he became president
Funny...
Flag as <NO-JUNK> for themosmitsos...
Repubs lean towards socialism for large corporations. Palin shoots wolves from helicopters when she's bored.
Dems lean towards socialism for individuals. Obama is the incumbent. I have seen enough unpopular incumbents re-elected to know that Palin is not going to beat him.
Best bet is if you don't want him to be the president, find a worthy replacement and go volunteer to have him/her elected instead of whining on zero hedge.
I lean towards ventilated foreheads and stretched necks.
LOL! I quite agree!
yes, continue voting in your own slavery via the demo-thug party!
that's really going to work
wake up, and realize these freaks are out to Kill us
then act accordingly
The once great site seems ever more increasingly co-opted by the flock of Glenn Beck.
Can we at least be civilized to each other?
This is FIGHT CLUB!!
Most of the posters here apparently believe that SS is bankrupt. That would suggest that most people think of SS as having a balance sheet. It does not. Every penny in goes out, mostly to pay for current retirees. The balance is lent to the government in exchange for non-marketable securities. Ergo, the SS system has no assets it can sell.
On the other hand, this is not an unfixable problem. If we do nothing at all, the system will still be able to pay 70% of promised benefits. Small adjustments can make a huge difference over time. All Obama is suggesting is that today's retirees need to accept some sacrifice for the benefit of the next generation. Sounds prudent to me.
Within 6 years there will be 1 contributor to every 5 recipients? It will be impossible to continue the Ponzi. It really is that simple...Medicare is in the exact same bankrupt boat. The baby boomers are coming in masses over the next 5 years and they will not be able to make payments. SSI is currently in the red for those who really want to know. There is no money put aside, just a bunch of IOU'S in some file cabinet in West Virginia. They are running the same Ponzi as Madoff did and are starting to feel like he did in the final days. As unemployment gets worse, and it will now that corporations have tasted the .30 cents per hour meat, the gap will widen and the ratio will be like 10/1. They can't keep changing the rules 3/4 of the way into the game, it's called robbery. With over 50% of America counting on SSI to survive, things will get very desperate as the govenment forcloses on their obligations.
Yeah, 70% now.
Then, 60% in 2012.
Then, 50% in 2015.
Then, 40% in 2018.
Then, 30% in 2021.
Then, 20% in 2024.
The entire system is fraud. Everyone over 60 needs to be given what they were promised out of general revenues, and everyone else must be allowed to opt-out and receive a 100% refund of everything they've ever paid in (adjusted to honest value, meaning payments long ago count for much more in 2010 dollars). Those who do not wish to opt-out must be willing to accept whatever payments can be made from the income generated by those who are still opted-in and still paying into SS. Everyone with less than $500,000 in total assets gets 100% of what they were promised, with a sliding scale down to the point where everyone with two million dollars of total assets gets 0% of what they were promised.
In other words, the only honest solution to any current problem is to make every government service voluntary, and the quantity and quality of services be limited to whatever funds are available from those who volunteered to pay-for and receive those services.
Government by predators must end.
Yes, that's pretty much in line with what I heard.
Don't count out the old folks on leading the revolution if Obama messes with Social Security.
http://www.youtube.com/watch?v=fdDj0Syzrn8
you mean leftico.com? (the left-wing propaganda site formerly known as politico.com?)
i'm making plans to just get off the grid / extricate myself from this system. everything is exactly as my Grandma Jo told me years ago & i didn't listen. Yea, I'm telling my "Grandma Jo" story again, here goes :
My Grandma Josephine (god rest her soul) was born in 1915. She went through the GREAT DEPRESSION & it shaped her lifestyle. Grandma Jo saved & saved, lived a very prudent lifestyle & NEVER took charity. When i was a teenager & young adult i remember Grandma Jo would rant & rant : NEVER TRUST THE GOVERNMENT & DO NOT GO INTO THE STOCK MARKET.
I never listened, until now ...... Grandma Jo was right .
Recall, if you will, Grandma Jo,
Who told you all you'd need to know.
But you didn't listen,
Now the rain comes a pissin',
And the storm is beginning to blow.
i'm making plans to just get off the grid / extricate myself from this system. everything is exactly as my Grandma Jo told me years ago & i didn't listen. Yea, I'm telling my "Grandma Jo" story again, here goes :
My Grandma Josephine (god rest her soul) was born in 1915. She went through the GREAT DEPRESSION & it shaped her lifestyle. Grandma Jo saved & saved, lived a very prudent lifestyle & NEVER took charity. When i was a teenager & young adult i remember Grandma Jo would rant & rant : NEVER TRUST THE GOVERNMENT & DO NOT GO INTO THE STOCK MARKET.
I never listened, until now ...... Grandma Jo was right .
I left the USA disgusted with the way things were going in the mid-1990's. I wouldn't come back if you paid me. For all the bitching, pissing and moaning Americans are doing, they did it to themselves! Fat, drunk Americans fixated on sports, or whoever is screwing who on the latest garbage on TeeVee. Letting the Satanic Tribe slowly get their hooks in government, finance and the media. The USA is in for a great bloodletting, maybe that's what it will take for Americans to find their spine and regrow their balls! Our grandfathers would have string up those bastards getting their $billion bonuses!
AMEN ! There......... that's what I'm talking about people ! GUTS ! this commentor has got GUTS !! & HE'S DAMN RIGHT, TOO !!! ......... SQUEXX ...... I do not know you, but I admire your guts . You are soooo right, our grandfathers would have strung them all up & used them for target practice . We're AMERICANS ! NOW ACT LIKE IT .
Do you live jew-free now? If so, pray tell, where?
Bullshit. There is no Social Security surplus.
Just cut your loses, Obama. Say there's never been a surplus. It's just an intergovernmental IOU. Say the republicans raided it to pay for Iraq and Afghanistan and tax cuts for the rich and just end the program. End the tax and end payout. Seriously, you can pull an end-around on everyone.
agreed in principle, but just remember, obama is not (y)our friend.
he's just (y)our reflection, and the mirror, sooner or later, will crack.
if & when that happens, see ya in 7 years...
On the backs of those that already paid their dues. 50 years of Taxes and Contributions to SS and Medicare. Now they do not have as strong of a voice Obama wants to cut what they paid into for 50 years. As they already distributed the Money to the Bankers for their 2 year of record Bonuses. This year alone $144,000. Billion. No increase in SS for the last 2 years. But, an increase in the Bankers Bonses.
what's with the junkfest?
very funny
very funny. attention all would-be junkies...plan to get junked when you become partisan. afterall, we are all supposed to be libertarian here, and above that fray.
Read it and fucking weep for those who really give a shit. This is the very reason they jammed through the Health care bill without the Senate's vote...because they had to gut medicare by 500 billion and start the new taxes immediately even though the bill would not take effect until 2015... 4 years of money coming in along with immediate cuts to cover up the insolvency..Just like everything else, another game of kick the can.
http://www.washingtontimes.com/news/2010/mar/16/social-security-ious-stashed-away-in-wva/
The "bankruptcy" of SSI that so many like to talk about is a misrepresentation. It's true that SS has "sold" its funds to the Treasury in exchange for bonds, but the Fund does still hold those as assets. Just as other parties worldwide hold trillions of dollars in treasuries.
Payment of SS benefits under the current program model would be covered thru 2037 and then the program would be broke
Any failure to make payments before that would depend upon government repudiation of the Treasury Bonds held by the Trust.
Defaulting upon its obligation to return those invested funds for payment of SS benefits would be a strategic and deliberate default. I'd suggest that the gov would be well-advised to default on debt owed international creditors before welching on its own citizens' investment.
And if you delight in snorting in contempt about ponzies, entitlements and such, fine, but get honest about it: The SS Fund is in fact a large, $2.5T holder of formal US debt in actual bonds, bought and paid for. Investment grade securities, mother fuckers.
It would be nice to see people get their heads around that.
So the TBTF banks and the financial elite get bailed out and pay themselves multi-million dollar (Federal Reserve Note) bonuses while the elderly and disabled take a pay cut. Serfs up! Revolt against the Fed and the TBTF banks by buying and demanding physical gold and silver instead of Federal Reserve Notes!
Except most illegals don't get a paycheck. They work for cash.
My house
The title of the article hit the nail on the head. We NEED politicians who are willing to commit political suicide. The things that need to be done are going to make everybody mad - both left and right.
Just look at the comments on this board. Some are supportive of cuts to SS while others think everything else should be cut first. The truth is we need largescale cuts in every federal program and outright elimination of many. Very few people will accept that though. They want to scale back the government EXCEPT for the programs that affect them personally or emotionally.
The only way we can make progress is if we get politicians who aren't worried about lifetime appointments. They need to be willing to commit political suicide by publicly stating the cold, hard truth.
It will never happen though. The people will continue to elect those who make promises that can never be delivered. And that, my friends, is why we're all screwed.
Your mindset bothers me almost as much as the people who flippantly declare "life's not fair" as if it magically absolves their many sins.
Say the government had just 10 programs, and 9 of them run efficiently enough to save money, but the 10th just wastes the surplus and then some. After many years, there's a huge debt that 9 programs had absolutely no part in creating. Yet, people with your viewpoint think those 9 programs should agree to any and all degree of cuts because poor little program 10 can't be bothered to live within its means or the surplus of the other 9. You are deliberately rewarding failure while punishing the prudent and you wonder why this country is doomed?
Our way of life, 'capitalism', has its foundation in free land (stolen from the natives we murdered), free labor (from the Africans we also stole and murdered) and unlimited natural resources to plunder, without this trio, we like everyone else in the world, are nothing.
http://www.youtube.com/watch?v=jXesMkAYh44