that the SS program can be stabilized without significant and prompt
action to address the underlying imbalances. Failure to deal with the
problem in a timely way will result in a systemic problem for the US
economy in less than ten years.
While there are a number of proposals to address the imbalances, there
really are only two possible out comes. Either the 60-70% of the baby
boomer population who are highly dependent of SS are going to have the
benefits cuts, or younger workers are going to have to dig into their
pocket to pay for the Boomers for the next 30 years.
Bottom line; either a significant portion of seniors are going to be eating cat food, or the next few generations are going to be paying (unfairly) through the nose.
I have not written one of these critical pieces without getting a bunch
of complaints from the big guns who support SS (as it is) and maintain
that what I am saying is just bunk. They are wrong, I’ve been right all along.
Charles Blahous, the Public Trustee for the SS Trust Fund gave testimony (Link) to the House Ways and Means Committee on Friday. I think he laid it on the line rather nicely.
The 2011 Trustees’ report is the first in which Public Trustees have ever participated to have concluded that an era of permanent annual deficits has been reached.
This is important. It’s all you need to know. SS has turned a corner. It
is headed south. It will continue to head south as far as the broader
economy is concerned for the next 75 years (actually SS is in perpetual deficit).
Social
Security expenditures exceeded the program’s non-interest income in 2010
for the first time since 1983. This deficit stood at $49 billion last
year and is projected to be $46 billion in 2011.
These are not small numbers. The $100b shortfall in 2010-11 is a fairly
big burden given that the rest of the government’s finances are in such a
hole. Blahous said something that may have been a “tell” as to what we are looking at in the future with these deficits:
This deficit is expected to shrink to about $20 billion for years 2012-2014 as the economy strengthens. After 2014, cash deficits are expected to grow rapidly as the number of beneficiaries continues to grow at a substantially faster rate than the number of covered workers.
Blahous is not following the SS “script” with this comment. These are the projected deficits based on the SSTF annual report:
Note that the “projected” annual deficits remain fairly small all the
way out to 2018. So what is Blahous referring to regarding big deficits
post 2014? SS provides an alternate forecast that they call the
“High-Cost” analysis. This chart looks at the two forecasts together.
For Blahous to suggest to Congress that the deficits will be “growing rapidly”
post 2014 represents (to me) that the real thinking inside of SS is
that the actual results will be closer to the worst case scenario.
Should that be the result, the cumulative deficit at SS from 2011
through 2020 will be a very lumpy $900 billion.
My own review of the numbers says that we have little chance of achieving even the results of the high cost analysis. It is likely to be much worse than that.
The problem is that the economy is simply not producing enough jobs.
There are fewer workers contributing to the system. The SSTF is
anticipating “a strengthening economy”, I see no evidence of this today
and have no expectation for a turnaround in the jobs picture any time
over (at least) the next five years. The following graph says it all on
payrolls in America. The recession killed us. As of today the number of
workers contributing to SS is less than it was in 2000. Look at this at
you will understand the problem.
I think that Blahous made some important comments. One’s that will shut up the defenders of SS. The argument that those defenders repeatedly use is that SS does not impact the current deficit. That is flat out wrong:
Social
Security operations are currently adding to the unified federal deficit
and will add substantially more in the years to come.
The facts folks. SS is adding to the annual budget deficit ($116b in
2011). It is adding to our funding deficit (the amount we need to borrow
from the Public). That number was a manageable $49b in 2010 but it will
grow every year from now on. In less than a decade it will become
unmanageable.
Blahous spoke about the “Assets” of the SSTF. The believers in SS constantly point to the huge $2.6T surplus at SS and say: “There is plenty of money in the piggy bank. There is no need to mess with SS today”. That is not the case at all.
If we look at the bonds from the perspective of the Trust Funds, they are assets. If we look at them from the perspective of the unified federal budget, they are a net wash, as are the interest payments that they receive.
Folks, there are no Assets in the Trust Fund. There are pieces of paper
to be sure. But they are just pieces of paper. The merely represent
claims on future taxpayers.
The following words are, I think, critical to the debate on SS:
The costs that will be borne by younger generations will grow significantly each year that a new cohort of baby boomers joins the benefit rolls.
I am screaming at the top of my lungs, “How can we let this happen?”
To me, it is absolutely insane to think that the Baby Boomers (I’m one) can put the burden of SS on younger workers. This simply will not work.
The result of a policy approach that sticks everyone under 50 with the
cost of the Boomers is going to result in deep social divides. We have
enough problems in our society today. We don’t need/want Age Warfare to be added to the list. But if the plan to “fix” SS is one that sticks the bill onto young people we WILL have age warfare, it’s inevitable. The social consequences would be greater than the economic costs. Why does no one see this?
Addressing the imbalances at SS will be painful, and no one likes pain.
So the result has been that our political leaders just kick this can
down the road. I don’t think that there will be any fixes at SS until
after 2012. While an extra two years will not result in a crisis, it
will result in a higher cost of the necessary fixes. I hope all the
defenders of SS read what Blahous has said on this:
Elected officials will best serve the interests of the public if financial corrections are enacted at the earliest practicable time.
Earlier action will also afford elected officials with a greater
opportunity to minimize adverse impacts on vulnerable populations, including lower- income workers and those who are already substantially dependent on program benefits.
The big defenders of SS call themselves Liberals. Paul Krugman and Dean Baker are on top of the list. But there is nothing liberal about their position. Who is going to be most hurt by what is coming (absent changes)? The answer is clear. Older people who are 100% dependent on SS and younger workers who are on the bottom of the income scale.
The Liberals have to come to understand their dilemma. The more they put
their foot down and demand no changes to SS, the worse off will be
those that they are actually trying to help. The liberals are shooting their own constituency.
Note: On these matters I consider myself a liberal. But I
come to a completely different conclusions than those who actually call
themselves Liberals.
My position on this complicated issue:
-We can’t cut benefits across the board. Too many people would be eating cat food. That’s not American.
-We can’t put the burden of the Boomers on younger workers. It’s simply not fair. That’s not the American way either.
-The solution(s) have to be born (largely) by the Baby Boomers
themselves. Post the Boomers, SS can be a PayGo concept. But the
transition is not PayGo. It is a huge inter-generational transfer of wealth. This means that well off Boomers (there are many, including myself)
are going to have to dig into their pockets to support those in their
age group who did not fair so well. That, in my opinion, is the only
viable solution. That would be more representative of the American way. Fairness.
And they don't even know how to wear pants.
nothing that a good old fashion DRAFT cant cure
Seasmoke
True dat. Except they will now be drafting chicks. Really you want to be banging some PSTD twenty year old in shape chick and have her go all Rambo on your ass? Not to mention the loss of limbs.
Basically you remove a lot of very attractive hookers from the game leaving the old scaggy meth addicts.
That's why WW2 was heaven for the 4f boys bagging the surplus of lonely women needing a shoulder, hehe, to cry on.
It's probably not fair to point fingers at an entire group but this one (Boomers) is like a gigantic 10-year old with his hand caught in the cookie jar due to -- quelle surprise! -- too many cookies in hand!
He's upset because he can't wheedle anyone into breaking the jar without him cutting his fingers (off).
Poor baby!
Child desperately wants and needs all the cookies:
- endless new cars, SUVs and Giant Pickup Trucks with cheap gas and endless more roads to drive them on,
- more and more overseas 'adventures' that accomplish absolutely nothing but let the child feel good about his 'heroism',
- The magic cookie jar: 'growth' in the form of endless future cookies,
- cookies in the form of 'country estates', 'luxury', personal attendants, finance companies, offshore corporations, 'investment' banks, 'Nanny- state' governments, countries we like, countries we don't like but have to 'buy off' ...
- cookies for politicians because it costs less to bribe them rather than let them 'run amok',
- free finance cookies paid for by people we don't think highly of,
- cookies that do not require learning, work, skill or an investment in time to gain, "we have Mexicans for that stuff",
- a cornucopian cookie future with zero pain or inconvenience (for me, the devil can take the hindmost).
If the Boomers aren't the most corrupt and diabolical 'class entity' that has swum, crawled, crawled or slithered over, under and above the surface of this earth it is hard to imagine what is.
Everything they have touched they have turned to shit, the 'reverse Midas touch'. Unsurprisingly, the Members of the US Congress (as well as the Members of the rest of the world's establishment) is made up of this cohort.
Anyone who expects them to do or fix anything is expecting unicorns. Monkeys will fly out of my ass before any single one of the self- centered assholes lifts a finger to do anything.
10-year old's hand in the cookie jar. Indeed.
And something else: excoriated "boomers" brought down Red Empire, Iron Curtain, Berlin Wall, liberating hundreds of millions of people from State Socialist slavery. And did so w/o a World War. I'd show a little respect, FightClubbers. When/if the current generation terminates the Anglo-American Empire and restores the Republic, they too will worthy of respect. Not until.
You forgot to mention that the Boomers are also diabetic.
I was like you once - I thought the Boomers were the most self-absorbed, selfish generation - that was until I met the sociopathic generation they spawned.
All in all, it should be a good match-up.
Due to their childrens' high level of BS self-esteem, their fantasy Achilles heel, I'm putting my money on the Boomers.
You're right--Boomers are a bunch of selfish, whiny, grasping leaches. In fact, the only people worse in those respects are their...kids!
I'm guessing he's gen Y, with gen X parents, or he wouldn't be talking so much smack. Being a generation removed from the last productive segment of our countries history, their envy of the life of cheap oil boomers led (pure chance on a boomers part to be born during this time) festers even stronger than a Gen X'er who has boomer parents. Boomers shouldn't take this envy that shows up as hate personally, just the lie of abundance is becoming more acute as more Gen Y graduates from high school/college, and they can't blame it on their Gen X parents who obviously have no equity. The problem now being Gen X can't afford a boomers house, since upwardly mobile is a function of cheap energy/sound financial country, so the boomer continues to work, if they can, locking out Gen X and Y for a further 10-20 years from any chance of a mortgage paying job, dialing up the hate that much further.
No, I just want what I paid for and told I was going to get. And you are wrong about generalities of an entire generation. Your hatred of them does not affect them only you.
You fscked up, YOU BELIEVED/TRUSTED THEM!
You'd better get used to the idea, deys no moola!
"Dreams Come Due, Government and Economics as if Freedom Mattered", ISBN: 0-671-61159-3, by John Galt
The book is dated, but many of the things it talks about are still valid today.
Like most of the other "boomers" I know, I've been working and paying into SS for 40+ years and got nothing back -- our parent's generation got it. Who's selfish? Maybe some spoiled brat kids?
Well said Bastiat. I'm tired of these young people blaming me for something I had no control over. I've been paying social security about as long as you and now all I hear from the Bruce do gooder types is why I can't have it. Them and young stupid people calling me selfish for wanting and expecting something I have been paying for every paycheck of my entire goddamned life.
http://reason.com/blog/2008/10/24/saving-social-security-episode
You fscked up, YOU TRUSTED THEM!
Skyscraper Economics
So, the scarcity economy is like a skyscraper. The Fed is pumping wealth up, with an elevator, Congress is dropping just enough down, in a rigged lottery economy (the accounting fountain) to induce participation and all the incentive is to occupy the top floor. Pretty stupid from the perspective of the abundance economy, but wait, there’s more…
As the top floors fill out, the skyscraper becomes an inverted pyramid, infrastructure and all, supported on both sides by the abundance economy, through a looking glass (a bridge, which is a tiny dot in the landscape that is the universe, but it is the entire universe to those inhabiting the skyscraper, with all its entertaining features). As the inverted pyramid grows, the abundance economy moves out, growing the gap, while the corporations spend accelerating effort, make-work, regulating the slave sub-economies below, balancing and reinforcing the structure.
The abundance economy employs leverage to get farther away, effectively creating a quantum switch, and the planet is not stupid, like they teach in school. It’s patient, until it’s not, in quantum leaps, wiping the DNA it doesn’t want off the stack efficiently. The abundant economy is a mechanism that increases that efficiency, by effectively employing leverage, and materialism is the bait in the self-actualizing trap. You cannot fool an honest man, although he appears to be the fool.
The universe is a clock, and the planet is a sub-gear of sub-gears, a sub-fulcrum of sub-fulcrums, a sub-pendulum. When that pendulum bottoms out, it measures the gap, which is expected diversity relative to resources deployed. As the gap grows, in quantum distances between swings, due to leverage employed by the abundant economy, the contacts pit, which is why this generation of critters is “seeing” tornados, floods, and droughts where they never saw them before. The only question is when the NC switch is going to snap open, and release full backlash.
Employing DC in your applications is not a problem; failing to provide a pathway for backlash is a problem, unless your objective is creative destruction at the bridge. As you know from experience, if you tell the competitive, do-what-I-say-not-what-I-do, tell-them-one-thing-and-do-another critters what they need to do to solve a problem, that is exactly what they will not do, until it’s too late, which shuts all their exits, and you can set up the reaction with timing, directed resonant frequency momentum, pushing the pendulum further and further, bumping the load at the pivot.
As discussed, in pieces, the clocks in these dc computers are embedded with an AI traveling salesman algorithm, managed by the electron of electrons, mimicking nature so nature recognizes it, leveraging the pivot yet again (when they attack you with that computer…). Each time the proprietors have failed to follow instruction, they didn’t see an immediate negative result, because the sub-gears are designed to balance algebraically, until it’s time to “leap” forward. If you were around when the micro-computers were introduced, you have some idea of what is about to happen.
As the elevator man, I am climbing the stairs, making adjustments to the perception feedback gearing mechanism. All the adults have to do is follow along, watch, and learn, but the vast majority cannot alter their bred addictions in real time. They are waiting in the lobbies for the elevator to open. When that inverted pyramid cracks and falls away, leaving only the elevator and the parts of the skyscraper that are useful, the elevator will drop to the bottom floor and pick up the kids, who will be the only ones able to see it, and the process will re-initiate, constructing the next bridge.
There is still time to catch up, but don’t expect those elevator doors to open. Congress has until August to stop the entitlement checks, so the herd can see the problem, before they pass the final spur and go over the cliff. If you are behind, you might want to get you’re a** up those stairs. The proprietors “think” that knowing the location of the architect is going to help. Critters crack me up, until they become a trip hazard and get flushed. Architects don’t carry anyone, including their own children, because the tools themselves are too damn heavy.
Don’t ask me to give you a date; that’s up to the traveling salesman algorithm, but the RE pump in DC is only going down one floor, to Seattle (Microsoft/Boeing).
nice one kev.
i see the tower of babel in a prismatic snow globe filled w/ hydrochloric acid, waiting for mother to shake it.
been busy building a catapault in the looking glass, problem is, things are so distorted in there that it's easy to fall into a timewasting trap filled with critters there too. the critters that made it into the prism have better disguises and given the refracted light, it's easy to initially misinterpret their motivations/intentions in the quest of wanting to get shit done. good thing is that, after awhile, all is revealed. as you said brilliantly, You cannot fool an honest man, although he appears to be the fool.
clock's ticking though. TICK TOCK. maybe time to shift perceptions from being constantly bombarded with shapeshifting critters to focusing on planting timeshifting seeds? no man is an island, true, but sometimes a moat has its place, yes?
p.s. maybe the only reason the DC/RE pump is getting to SEA is b/c of the resonant push from up in VAN due to the asian invasion?
funny, we dismantle our manufacturing base, "re-mantle" it in China, send the crap back over and shelve it for free until it sells, tie jobs to buying the crap on credit, and wonder why channel stuffing of crap grows exponentially.
...and then ship all the useless packaging & obsolete crap back across the Pacific to be "recycled"...
If the Fed (Bernanke) can bail out the banks (banksters), then "damn it" he sould do no less for SS too. I don't like trashing the dollar, but if we must.......
Bruce, I love your posts, partly because they are so predictable. You write:
What poppycock. It is this never ending "fairness" divel spewed by liberals like you that has gotten us into this mess. It is this same "fairness" drivel that has us saddled with "progressive" income taxes that are suffocating the nations economy.
As an aside, it is interesting that Paul Ryans medicare solution imposes a cut off for those 54 years or younger. The grand bargain, supported by Republicans like Ryan, seems to be that the Boomers will make it through with their government "fairness entitlements" intact. The Boomers are saying: apres nous le deluge
It is the biggest pile of shit ever to say that progressive taxation is what is causing this mess....
not when the rich are getting richer, and vast majority is getting it up their asses!
What are you talking about?
The income tax imposed by the federal government was as unconstitutional as the FED. Both has served the same purpose of allowing the federal government to take complete control of the country. The income tax is to blame and its "progressivity" is what got people like you to fall for it under the guise of "soaking the rich". Well why don't you stop and think a little: it is "rich" business owners and entrepreneurs who create the wealth, not SS retirees or brainwashed socialist "earthstudies" majors.
Nice talking point there ... Moron!
Here are more facts for you (not talking points from the Oligs):
The super vast majority of jobs in America are created by small business owners
The vaaaaaaaaast majority of small business owners make less than $300,000
You moron!!!
5+ unjunks on idiot's point about SmallBusiness and jobs. Even a broken clock is right once in a while. Plutos and reds both hate SB. SB = economic/political freedom.
Well, you got the Idiot part of your name right.
It isn't the progressive taxes that are breaking the back of America, it's the progressives that won't quit spending money that are doing it.
You want to accomplish everything through taking more. I haven't seen one comment from you that entertains the idea of spending less.
Maybe some of us wouldn't be so pissy about the taxes we pay, or the thought of paying more, if we didn't feel we were just handing our wallets to a junkie on the corner.
on Sat, 06/04/2011 - 15:35
#1339715
It isn't the progressive taxes that are breaking the back of America, it's the progressives that won't quit spending money that are doing it.
**************************************************************
so Colonel my answer to your statement of Liberals who are spending money on darky and the like would be no. My answer would be that of the $18 Trillion dollars that less than 1% went to help anyone. My answer would be to your statement that people, all people and since the supreme court says corporations have rights like people.. then corporations too.. should pay their fair share as opposed to paying NOTHING at all. but thats just my Progressive / Liberal / Anti-Corporation Stance Kicking in!
they tested the catch phrases and then they programed you by putting those catch phrases in heavy rotation on tv.. 24 hours a day, 7 days a week and even when you fell asleep in front of the tv. they programed you with the catch phrases you wanted to hear.. like "Tax Cuts". Wake Up! the poor people dont have a multi-billion dollar lobby. they have no lobby, any money being spent now is becuase someone spent a LOT of Lobby Monies to get it thru.
Top 10 corporations which paid no taxesHere is Sen. Sanders’ list of the 10 worst corporate income tax avoiders:
1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings. (Source: Exxon Mobil’s 2009 shareholder report filed with the SEC here.)
2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion. (Source: Forbes.com here, ProPublica here and Treasury here.)
3) General Electric made $26 billion in profits in the United States over the past five years and, thanks to clever use of loopholes, paid no taxes.(Source: Citizens for Tax Justice here and The New York Times here. Note: despite rumors to the contrary, the Times has stood by its story.)
4) Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009. (Source: See 2009 Chevron annual report here. Note 15 on page FS-46 of this report shows a U.S. federal income tax liability of $128 million, but that it was able to defer $147 million for a U.S. federal income tax liability of negative $19 million.)
5) Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year. (Source: Paul Buchheit, professor, DePaul University, here and Citizens for Tax Justice here.)
6) Valero Energy, the 25th largest company in America with $68 billion in sales last year, received a $157 million tax refund check from the IRS and, over the past three years, received a $134 million tax break from the oil and gas manufacturing tax deduction. (Source: the company’s 2009 annual report, pg. 112, here.)
7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department. (Source: Bloomberg News here, ProPublica here, Treasury Department here.)
8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury. (Source: Paul Buchheit, professor, DePaul University, here, ProPublica here, Treasury Department here.)
9) ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2006 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction. (Sources: Profits can be found here. The deduction can be found on the company’s 2010 SEC 10-K report to shareholders on 2009 finances, pg. 127, here.)
10) Carnival Cruise Lines made more than $11 billion in profits over the past five years, but its federal income tax rate during those years was just 1.1 percent. (Source: The New York Times here.)
http://www.greenpartywatch.org/2011/04/30/top-10-corporations-who-paid-no-taxes/
Corporations Own the Lobby!
The Lobby Owns the Government!
Law Enforcement works for the Duly Elected Lobby Whores!
“We the People” are Screwed!
http://www.banktech.com/articles/229700093?cid=nl_bnk_daily
Top U.S. Lobbying Banks Got Biggest Bailouts
1. [PDF]
A Fistful of Dollars:Lobbying and the Financial Crisis; Financial ...
File Format: PDF/Adobe Acrobat - View as HTML
A Fistful of Dollars: Lobbying and the Financial Crisis by. Deniz Igan ...
www.imf.org/external/np/res/seminars/2009/arc/pdf/Mishra1.pdf
Both of you infer, (not that I would ever include you in the ranks of IDIOT) that when I am pissed at progressives, I am pointing out the left.
Because this is a political discussion, I would like to remind everybody involved that 90% of ALL p[oliticians are progressive when it comes to spending money, expanding the state, and social engineering.
Dipshit thinks I am targeting the left. I sort of am, but when I bitch about spending money, do you think I'm singling out Democrats, and backing a dipshit hypocritical Repuclican view? Couldn't be farther from the truth.
JW, you and I agree on a lot of things, but don't mistake my blasting spending as a left/right thing. It is a statist thing. My political stances are very liberal on most things, even though I live very conservatively, because I believe in a limited government. RNR is a statist, plain and simple. That's what I'm against. Not against old people, nor poor people, I'm not pro corporation and banksters. I just simply do not believe that the government (federal),,, I don't give a shit who's in charge, is the solution to ANYTHING.
Not playing left vs right here ... but you keep bringing it up ....
so just some data, then I am done with you, moron!!
To be clear, Reagan left a deficit, Bush I left a deficit, Bush II left a deficit .... progressive spending you say?!?!
Whatever dude!!
.... try shaking you head .... that should turn the brain on!
Jeeezuzzz you are a bore. LARGE CAPS and punctuation that shows us how clever you are..... amirite?!!! YEAH! Calling everyone not so clever names. Wooo!!!
I get it man! Government is the answer! If only you can get the right people in there. Snore.
You'd be much happier on Facebook. or AOL.
Idiot is right where he belongs. Here. This...is FightClub.
Government is the answer?!?!
See ... you idiot too ...
Your confrontational manner isn't going to get you anywhere here fast. This isn't huffpo, please can we avoid the shouting matches and quick use of insults to devolve the conversation. Yes the republicans have messed things up by running 500 billion deficits. Reality check - we have a Dem running triple that now, in perpetuity. Yes the republicans have messed things up by having us in two unaffordable wars, costing us a trillion in under a decade. Reality check - we have a new war, started by a Dem, that is refusing to ask congress for permission to start it or continue it, and instead calls it kinetic military action, Orwell is most certainly laughing. This war in Libya cost us 600 million the first week in spent ordinance alone. We are also threatening new wars in Syria and Iran, or are you ignorant enough to think that Al Ciada targeting a submarine base in Iran is coincidence? Or do you even get that far into the news to even know it happened? These are Dem started wars. Of course noone says shit when a Dem wants to start a war or wants to shut down all the parks in Cali, only when a Repub does it. I've lost respect for everyone, noone means shit when they talk, doesn't matter what party. Yes it would be nice if corporations paid their taxes, too bad Clinton allowed money from said corporations to be repatriated back into the U.S. without penalties. It's all a joke. And you're a joke for believing there is a difference, thankfully zero hedge doesn't suffer ignorance gladly. Your shouting and insults will convince exactly -zero- people in your beliefs, unless of course that was never the point, and you just come here to spoooooge on us so we need a bukkake towel to wipe it all off.
Sorry ... I'm not into dems vs repubs ....
and I do take offense to people who, confronted with facts, keep bringing up socialism and communism ....
This is 90% of the population against a corrupt Oligarchy ....
I do not give a fuck about Hope and Change .... especially when change means the same fucking policies that created this mess in the first place ...
So spare me the lecture, dude!
Fact is, there is no fucking socialism around here, unless people mean the welfare for the rich!
We have been sold supply-side-trickle-down bullshit for the past 30 yrs and we see the results ....
Having raped the middle ... dismantled out industry ... sold us the service economy BS ... turned markets into casino ... they are still trying the same BS, and every time somebody calls them on it, here comes the socialism-communism bs ....
So... give me a break ... and go have a drink on me!!
If you are upset with bloodline fascism, which goes back long before Rothschilds name shows up in the history books, you are preaching to the choir on this site. If you disagree with someone trying to call your ideas something else (I agree you are talking fascism), perhaps disagree without the caps and the name calling, then we can all follow the disagreement without getting distracted by the format. If you disagree with the fascism moniker, you are splitting hairs, inmynotsohumbleopinion. 'Operation Paperclip' has reached it's fruition you could say. Apologies on the 'lecture' but my rant o meter is still in the polite discourse manner, which means others can follow without getting emotionally involved. Cheers.
thanks for feedback!
Why is it not fair that old folks that didnt plan
for retirement are screwed? Its called the outcome
of bad planning. Also a result of capitalism
that we said we embraced until 2008. It IS fair
that the geezing sychophants get their just
reward.
It is utterly unfair that those that paid in
dont take out. Its unfair that immigrants that
dont pay can take immediately, which happens
daily(just ask the olders from Singapore living
off SS).
What this smells like is a last slap at the people
who made the country great, but are shit on
because theyre white and productive, as opposed
to people of color and immigrants who are not.
You want to discuss fair? How about letting only
those that pay Federal income taxes vote? Why
should those that pay no taxes have a say in
how those taxes are spent?
While you started this article fine, it ended as
bullshit.
The solution to this is the same as the solution to all the other problems. Very simply:
Terminate the federal reserve.
Terminate the federal government.
Take all property belonging to every living politician, sell it, and pay whatever is feasible over the next 10 years to people on SS. After that, they better have their own lives figured out.
People have NO FREAKING IDEA how efficient life would get without a federal government and central bankster gansters. The prices of most goods would drop very, very substantially, including homes and rent. This would make the transition vastly easier AND make those who are willing to help others vastly more effective (lower costs, no regulations).
Can't happen?
Yeah, right, like the USSR couldn't vanish, right? The USSA should vanish too, since the federal government has become nothing but an agent of pure evil.
The Baby Boomers ARE the biggest JACKASSES since the Roman Empire. Or Ottoman Empire?
How utterly and phucking mentally ill are the Boomers to think we are going to pay for their allowance of the repeal of Glass-Steagall. It's not people like me you should fear. Ducking SS is an art form. And once they raise the margin requirements on Ducking SS we'll just jump on the next flight to Hong Kong.
It's the flash mobs & Big Mac dispensers that are paying for the BOOMERS. LMAO. Go Long US youth to pay SS?
LAUGHING MY ASS OFF. Good riddens USA.
If you think the baby boomers allowed the repeal of Glass-Steagall, you obviously have problems understanding how the political system works.
Congress repealed Glass-Steagall - congress does not represents generations, they represent corporations. I would wager more baby boomers were screwed over by the repeal than any other generation, but it makes no difference, because this is not a generational problem. It's a national problem. Blaming the problems in your life on the boomers is handy but factually incorrect and allows those in charge to continue to exploit your weak reasoning abilitites. There is a reason critical thinking is no longer taught in schools, and has been surpassed by rote learning and testing where you puke up the answers that you were forced to swallow irregardless of their merit.
First you must understand, that everything you have been told is a lie. Then you must learn the only person you can truly depend on is yourself. Then you must educate yourself to understand the true reality of the world. I would begin by turning off the television and the radio, and start reading a few good history books, probably the older the better. Try to find something pre 1960 and learn how the modern world was formed.
your fucking age group!
your love, peace and be polite no matter what! got us all here!
like he said! rot in hell!
You have no idea what my age group is. You slander blindly and reveal a lack of intelligence and basic reasoning abilities. You appear to be a troll. Keep up the comments, I enjoy the transparency of your posts, it makes it much easier to skim past them to something useful and germaine to the discussion at hand.
http://goo.gl/FnxBZ Treasury Direct $14 Trillion Debt
http://goo.gl/TMl74 $15 Trillion in Loans
http://goo.gl/EXzal ='s $29T
http://research.stlouisfed.org/fred2/series/BASE 3 Years 300% More Dollars Printed Out of Thin Air!
about 300K roughly with the future earnings. Now if this is not considered theft then wtf will be. All recipients who have put into the SS system has to be paid and then shut down the ponzi fucking scheme and let congress give each other Blow jobs. Fucking thieves in the State and Federal level.
All right .... I'll settle for the blow job, then!
Pay me back everything I have put into SS with interest and I will leave the fucking USA.
Let's do it!
How much would that be?
Bruce, can you tell me if these SS deficits include SS disability payments or just SS retirement benefits?
Reason is that SS disability is rife with fraud, possibly meaning that boomers will push for that to be cut first; especially since it is usually paid out to those that are younger than 66 years old.
If you could break that part out it might be an interesting addition to your analysis.
These results are OASDI, Old Age and Disibility Insurance.
The DI fund is already in the shitter. But the retirement fund is the one that will kill us.
http://research.stlouisfed.org/fred2/series/BASE
3 Years 300% More Dollars Printed Out of Thin Air!
and you say that Social Security will kill us.. how much does it cost for 1 year?
what percentage is that of $18 Trillion Dollars?
http://goo.gl/FnxBZ Treasury Direct $14 Trillion Debt
http://goo.gl/TMl74 $15 Trillion in Loans
http://goo.gl/EXzal ='s $29T
http://vimeo.com/6475921 Control in Modern Times! Easier to Kill a Million People than Control a Million People in these modern politically awaken times. Revolution will come, will you be a spectator or will you help change your own future.. your children’s future, for the better?
A truth nobody wants to talk about:
The budget plan proposed by the Progressive Caucus is the ONLY plan that balances the budget and it does it by 2021.
That is according to the non-partisan CBO.
http://www.economist.com/blogs/democracyinamerica/2011/04/debt_proposals
..........................................
Did I hurt your feelings? .... junk away and kiss my a$$!
I'll talk about it. If you let me project tax revenues that will never come to fruition, I'll not only balance the budget by 2014, I'll give you a surplus.
All of this shit is unicorns and pixie piss. You and I both know that any progress made on debt will just be frittered away.