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Guest Post: Obama Jobs Plan - "Screw Future Generations"

Tyler Durden's picture




 

Submitted by Jim Quinn of The Burning Platform

Obama Jobs Plan - "Screw Future Generations"

Friday morning the Schuykill Expressway was jammed again due to an overturned car at Belmont Avenue. My first thought was how anyone could turn their car over at the usual 25 mph speeds on the Schuykill Expressway. My second thought was that I was damned to having to take the route from 69th Street in Upper Darby down Chestnut Street (aka The 30 Blocks of Squalor) to work. I was still steamed by Obama’s $450 billion “JOBS” plan. His new plan was touted as an infrastructure plan when it is nothing but a “screw future generations” plan. Do these politicians have no shame?

Obama and his minions will tell you that Social Security is a fantastic program. It should not be touched. They declare that it is self funding. That is a bold faced lie. The Social Security Trust Fund has a $17.5 trillion unfunded liability. This is why:

“A male average earner who retired at age 65 in 2010 paid out $345,000 in total Social Security and Medicare taxes, but will receive $417,000 in total lifetime benefits ($464,000 for a woman).

A much bigger disparity in taxes versus benefits occurs for couples. In the case of a household with only one wage earner, the taxes paid out were $345,000, but the benefits received by both parties will be $778,000. For two-earner couples where one earned the average wage and the other earned a low wage ($19,400), tax payout was $500,000, but benefits will be $800,000.

Those who retired in decades past saw much bigger returns for their payroll tax investment. But clearly this situation is not sustainable. It’s like putting all your expenses on a credit card knowing full well you don’t have the means to pay it back.” – Bankrate.com

We have 10,000 people every day turning 65 years old for the next 19 years. These people will be taking $70,000 to $150,000, on average, more out of the Social Security Trust Fund than they put in. This worked just fine when there were 16 workers contributing for every 1 retiree in 1950. It doesn’t work so well when there is only 3 workers for every 1 retiree, as there is today.

The twits that present themselves as journalists in the MSM have been foaming at the mouth over the description of Social Security as a ponzi scheme by Rick Perry. How could this man tell the truth about FDR’s beloved legacy? After trying to poke holes in Perry’s truthful assessment of this bankrupt program, the pundits declare it isn’t a ponzi scheme because Social Security isn’t voluntary, and a ponzi scheme is. These morons are right. Social Security is a ponzi scheme with a gun pointed at your head by Federal Government thugs. That is a much more accurate description.

The party that presents Social Security as a well run outstanding example of government at its finest has decided the best way to create jobs is to double down on you paying even less in payroll taxes than you did this year. We know for a fact the average person will get between 25% and 125% more than they paid into Social Security. The Obama plan last year and again this year is to drastically reduce the amount paid into the Trust fund, so you can have the privilege of consuming the same amount of food and energy at a much higher price. Brilliant plan! It is amazing how liberals and Keynesians can have such disregard and scorn for future generations who will be handed this bill with no means to pay.

The Republicans went along with the 2011 payroll tax cut of 2%. They will go along with the 3.1% payroll tax cut. You see, this is how politics works. Since the payroll tax was “temporarily” cut, whoever lets the payroll tax cut expire will be declared a tax hiker. Therefore, the “temporary” payroll tax cut will be extended indefinitely, further impoverishing future generations. Meanwhile, how many jobs did the first payroll tax cut create? How many will the extended and increased payroll tax cut create? None! Obama is using the George Bush tax rebate check method of destroying the country. Both decided to address a government spending problem by reducing revenues. This is par for the course and explains why the economy is teetering on the verge of collapse.

The Obama plan consists of $225 billion to screw future generations so we can spend today. It also includes $62 billion to pay people who aren’t employed for 99 more weeks, even though Federal Reserve studies have proven that extending unemployment keeps the unemployment rate 1% higher. Paying people for almost two years while they are not employed is somehow supposed to “create” jobs. Then we have the traditional $70 billion transfer from our Chinese lenders to Timmy Geithner and then into the pockets of state government union workers across the land. Obama needs those votes in 2012. Why should states be required to adapt their budgets to reality when their sugar daddy can keep supplying the candy?

The last chunk of change in the Obama stimulus plan will be $100 billion for some more shovel ready infrastructure jobs. This line was used to snow the American public back in January 2009 when Obama’s $800 billion porkulus bill was rammed through with no Republican votes in the House and only two RINO votes in the Senate. I’m sure you’ve benefitted greatly from the first round of shovel ready jobs. I know the $300,000 funneled to my township to double the size of a parking lot at our local park, which will be utilized on possibly 3 days per year, created a huge boom as the multiplier effect promised by Keynesians revitalized our local economy. 

As I drove down Chestnut Street through West Philadelphia on Friday I observed the result of Obama’s previous infrastructure stimulus plan. Prior to Obama’s 2009 stimulus, Chestnut Street between 69th and 39th (30 Blocks of Squalor) was pocked  with potholes and the sidewalks were crumbling, uneven and littered with trash. This entire stretch of highway was repaved with a thin layer of blacktop in the spring of 2010. Wheel chair ramps were built on every corner of these thirty blocks. Another example of government at its finest, as the Americans with Disabilities Act was only passed twenty years prior. The insanity of installing wheel chair ramps on every corner without repairing the lopsided, crumbling, trash strewn sidewalks leading to the wheel chair ramps is lost on the government drones.  

A little over one year since this fine example of Obama infrastructure spending I was able to make some revealing observations that can be applied to our country in general. I counted the number of holes that had been dug in the newly paved street as I slowly proceeded down this 30 Blocks of Squalor. I was able to do this because the City of Philadelphia government drones are incapable of properly timing the green lights to allow for a smooth flow of traffic.

In the space of 30 blocks there were 20 holes that had been dug and refilled. It seems you can make a highway appear shiny and new by putting a thin veneer of blacktop on the surface but below the street you still have rotting water pipes and decaying sewer systems. This symbolizes the thin veneer of big government solutions for America’s deeply rooted fiscal problems. Short-term Keynesian ephemeral stimulus injections are chosen over long term structural fixes. The result is the true infrastructure of this country continues to deteriorate, spring leaks and rupture at the most inopportune times.

The politicians will continue to try and give the appearance of fixing the structural problems in this country, while putting nothing but useless patches on broken systems and using hype and misinformation to sell their glossy veneer of deception as solutions. Obama has chosen to screw future generations in order to try and get re-elected in 2012. What a great American visionary leader he has proven to be.      

 

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Sun, 09/11/2011 - 17:25 | 1657332 Noah Vail
Noah Vail's picture

I hate to tell you this Mr. Quinn, but we don't need to worry about future generations,  even the present ones are going to witness the end of SS before their days are out and probably much sooner. I see a zero change that my kids will ever get SS and about a 10% chance that I will.

As the economy continues to decline, tax revenues will too. We will see the deficit going from $1.5 to $2.0, $2.5 . . .  and then BANG, like Greece, the US gets cut off as the world pukes at the mere mention of a T-bill/bond, which by the way is all that is left of the so-called trust fund.

If SS lasts another five years it will be a miracle.

Sun, 09/11/2011 - 17:26 | 1657353 Construct
Construct's picture

Not that I do not agree with you. But if that is the case then why should they pay any taxes at all?

Sun, 09/11/2011 - 17:30 | 1657376 maxmad
maxmad's picture

They shouldn't....  If life were fair.  Obama would come out tomorrow and declare that Social Security is a bust and bankrupt and that the government will pay back to each and every person how much they have put into the system (minus anything they have taken out) over the next 10 years, and then that's it the system will be done after that....

Sun, 09/11/2011 - 17:35 | 1657390 malikai
malikai's picture

It's not that they shouldn't. It's that they won't. I also agree. This talk of future generations paying the price misses the reality which is that we will pay the price. The bill is due now.

Sun, 09/11/2011 - 17:36 | 1657394 maxmad
maxmad's picture

but SS wont even be around in 2013

Sun, 09/11/2011 - 17:47 | 1657431 Fish Gone Bad
Fish Gone Bad's picture

Politics is about having your cake, and eating it too.  Spend today and let someone else pay for it.  Not to admonish anyone here, but even little kids know how to be politicians.

Sun, 09/11/2011 - 17:50 | 1657441 knukles
knukles's picture

And politicians know how to be little kids, unfortunately.

Sun, 09/11/2011 - 18:30 | 1657598 maxmad
maxmad's picture

Dont be too sure on that... Even RP will get rid of SS if elected.. Obama wants whatever money is left in there for bowling night.... so no, nothing left in there <tipping over the coffee can>

Sun, 09/11/2011 - 21:39 | 1658198 Chuck Walla
Chuck Walla's picture

You mean spending future taxes not yet collected. Politicians are proficient at it and the abortionist made sure the pyramid would get smaller. The unintended consquences of eugenics has caught up.

Sun, 09/11/2011 - 21:44 | 1658224 Bicycle Repairman
Bicycle Repairman's picture

OK sheep.  See if you can get a chant going: Ponzi ! Ponzi ! Ponzi ! Ponzi ! Ponzi ! Ponzi ! Ponzi ! Ponzi !!!!!!!!!!!

Sun, 09/11/2011 - 17:50 | 1657438 X.inf.capt
X.inf.capt's picture

or will that check have any value, after inflation and taxes....

Sun, 09/11/2011 - 18:27 | 1657588 maxmad
maxmad's picture

agreed abolish SS now.. Give back what everyone has put in today, and demolitish it like number 7!

Sun, 09/11/2011 - 17:49 | 1657436 Bobbyrib
Bobbyrib's picture

Most of the Boomers wouldn't be able to retire if they declared SS bankrupt. You should check out the polls that were taken on the average amount they saved for retirement. I'm fairly young and have more saved than the median.

Sun, 09/11/2011 - 17:51 | 1657445 WestVillageIdiot
WestVillageIdiot's picture

Many of the boomers I know have not only saved nothing but are so far in the hole that I have no idea what they will do when they are older. 

Sun, 09/11/2011 - 17:51 | 1657447 Iriestx
Iriestx's picture

That fiat savings will net you a few loaves of bread when Benny and Barry are finished devaluaing the dollar.

Sun, 09/11/2011 - 18:13 | 1657526 Bobbyrib
Bobbyrib's picture

Not if you invest it properly. They do have IRA accounts where you can invest in gold coins. Sure the fees are ridiculous, but it's better than investing in stocks.

Mon, 09/12/2011 - 06:36 | 1658831 Confused
Confused's picture

It seems to me, investing in Gold coins through an IRA, defeats the purpose of investing in gold at all. 

 

Not disagreeing with your statement about PM's over stocks. 

Mon, 09/12/2011 - 07:36 | 1658879 Vendetta
Vendetta's picture

I agree.  I took 1/2 my 401k out some time ago out and bought physical PMs,  now up  almost 300%. 30% penalty is a small price to pay to be free of financial assclowns.

Sun, 09/11/2011 - 18:31 | 1657605 maxmad
maxmad's picture

Yeah but its all in worthless dollars...just sayin..

Sun, 09/11/2011 - 17:31 | 1657378 russki standart
russki standart's picture

The Fed can always print into infinity. All payments will be honored, but the income streams will buy much less. Welcome to third world reality.

Sun, 09/11/2011 - 19:51 | 1657903 LetThemEatRand
LetThemEatRand's picture

Exactly.  Rick Perry (a giant tool) is correct that SS is a ponzi scheme, but he forgot the detail that the operator of the Ponzi in this case has the ability 1) to force future collections to pay for future distributions, and 2) to print to meet future distributions if for any reasons collections become insufficient.   Bernie Madoff would not be in prison if he had either ability.

Sun, 09/11/2011 - 21:16 | 1658151 Marco
Marco's picture

Also unlike in ponzi schemes the bottom of the pyramid doesn't keep growing indefinitely either ... the population is ageing, but there is a limit to the ratio of people on social security to the working population. Also government has the ability to reduce social security pay outs if necessary.

It's just like a Ponzi scheme except for the fact that it's not ... it's just a government wellfare program.

Sun, 09/11/2011 - 17:41 | 1657407 DoChenRollingBearing
DoChenRollingBearing's picture

@ Noah

I'm not even qualified for SS (not enough quarters working for the "right people").  So good riddance.  Not my problem, I am happy that I have saved.

I have already told my kid to not expect anything from .gov.  Except to be taxed.  Nothing else.

Sun, 09/11/2011 - 17:44 | 1657419 Hulk
Hulk's picture

We burned through $500 billion in a little over a month and a week...5 and 6 trillion dollar deficits are right around the corner...

Mon, 09/12/2011 - 07:38 | 1658888 Vendetta
Vendetta's picture

yea!  Its working, its working .... 

Sun, 09/11/2011 - 17:47 | 1657429 Bobbyrib
Bobbyrib's picture

I hate to tell you this Mr. Quinn, but we don't need to worry about future generations,  even the present ones are going to witness the end of SS before their days are out and probably much sooner. I see a zero change that my kids will ever get SS and about a 10% chance that I will.

 

I was thinking the same thing the whole time I was reading his article. He calls Social Security a Ponzi Scheme, but when the government doesn't fund the Ponzi Scheme he gets annoyed. I am a fan of any tax cut that lets me keep 2% more of my money, while weakening SS and allowing it to finally collapse. Perhaps we should fully fund SS and raise the retirement age to 70 for my generation to save our parents' generation's retirement (how much did they save in private accounts?). From the generation that speaks more and more about individual responsibility, they certainly don't save any money for their own retirement.

The only thing I agreed with was tearing apart the Porkulus Package that flushed $800B down the toilet. I didn't bother to watch the speech, because I knew it would be a series of empty promises from a BS artist. I like how the author points out that if unemployment benefits weren't extended, the unemployment rate would be an entire 1% lower. What would happen to the other people on Unemployment who couldn't get jobs after the benefits are cut after the 1% accepts those opening at McDonald's? Would we bring back Hoovervilles to an even larger extent? A better solution would be to scrutinize who receives unemployment insurance more effectively. If someone is offered a job they applied for then don't accept it, because they their UEI was extended and they would receive more "compensation" from UEI then cut those people off. Make whoever can work, work. This may prove tricky and would involve bureaucrats to think more (which is not their strong point), but in the end it is a more effective solution, IMHO.

I didn't really care for this article. I don't think a lot of thought was put into it.

 

 

 

Mon, 09/12/2011 - 07:45 | 1658916 Vendetta
Vendetta's picture

I agree with the first part of your comment complete however when 978,000 people apply for 50,000 job openings at McDonalds ... a thinking person might question the second part.  I have a co-worker who works his butt off after a couple of stints in Iraq and has 4 sons all over the age of 18 up to age 29, all living at home because .... the jobs are simply not there to enable them to move out.  I know him well enough to know, he wouldn't stand for them hanging at home if it wasn't the case.

Sun, 09/11/2011 - 18:30 | 1657601 MFL8240
MFL8240's picture

You want to limit this discussion to Social Security?

Sun, 09/11/2011 - 18:30 | 1657603 max2205
max2205's picture

Keep dreaming the fuck on, BAC and uspo may blow up but thy will TARP soc sec. Don't be stupid. Under 50? Better start saving and you'll be paying more and get money at 70-75 if you live that long

Sun, 09/11/2011 - 18:51 | 1657701 PD Quig
PD Quig's picture

Right on, Noah. SS payments are just going to be made out of the general fund as always--and financed via borrowing. There's no money for future generations. There's no money for CURRENT generations. 1/3 of current spending is borrowed. What the fuck difference does it make that we lower payroll taxes when we're already tapped out? It's a really stupid, specious argument.

Sun, 09/11/2011 - 19:39 | 1657872 myne
myne's picture

SS will last right up to the day the US dollar collapses. Now that the Euro's collapsing at a much faster rate, the pressure's off the dollar. That''ll buy you another 3-4 years. Just long enough for Obama to save his reputation.

He probably figures it worked for Hoover, why not him?

Plus if it fails, he gets to laugh so very hard when everything collapses completely on the Republican's watch.

Sun, 09/11/2011 - 21:33 | 1658185 r101958
r101958's picture

“A male average earner who retired at age 65 in 2010 paid out $345,000 in total Social Security and Medicare taxes, but will receive $417,000 in total lifetime benefits ($464,000 for a woman)."

A male earner that retired at 65 in 2010 started contributing to SS in 1965 (maybe earlier). Let's just make it real easy here......how much, in today's dollars, would $345k from say 1985 (half way between 1965 and 2005)be worth? I would venture to say.....a great deal more than 417k. Plus, if that individual had just put that money into any investment in 1985 returning say a paltry 3.5% then that $345k would be worth 690k today....so, I am not sure that the average Joe is getting all that great of a deal.

 

Sun, 09/11/2011 - 22:52 | 1658360 marsdefIAnCe
marsdefIAnCe's picture

Right - police state & foreign interventionism are bankrupt, not SS.  Hard to call a program bankrupt that has received trillions more than paid out, and that's before adjusting to real terms.

Sun, 09/11/2011 - 17:23 | 1657334 ??
??'s picture

What a great American visionary leader he has proven to be.

what do you expect from a country that twice elected the Bush, twice elected Clinton

 

Sun, 09/11/2011 - 17:54 | 1657457 gtb
gtb's picture

As bad as Bush proved to be, what choices did the voters have?  Gore and Kerry?  Gimme a break.  Even with the advantage of hindsight, I'd choose Bush over those two useless assholes.

Sun, 09/11/2011 - 17:58 | 1657474 malikai
malikai's picture

Law 31 Control the options: get others to play with the cards you deal.

http://en.wikipedia.org/wiki/The_48_Laws_of_Power

Sun, 09/11/2011 - 18:25 | 1657578 gtb
gtb's picture

That's helpful...especially all these years later.  How are the "Laws" working out for you?  Is everybody playing with the cards you dealt?  Didn't think so...

Sun, 09/11/2011 - 18:44 | 1657672 malikai
malikai's picture

You appear to have missed the point of my post. That is unfortunate. Try to think outside of your personal life and on a macro level.

Sun, 09/11/2011 - 19:21 | 1657806 Religion Explained
Religion Explained's picture

You appear to be a pompous self serving fool. Try to think inside the context of this thread/article and on the specific question of electing the best candidate AVAILABLE. (Or you can elaborate on the point of your post, on second thought, don't.)

Sun, 09/11/2011 - 19:36 | 1657865 malikai
malikai's picture

You just made me lol. Thanks for that.

Sun, 09/11/2011 - 21:38 | 1658203 gtb
gtb's picture

Religion - Couldn't have said it better.  Well done.  Seems the fool is rather self absorbed and didn't understand your plainly spoken rebuttal.

Sun, 09/11/2011 - 22:54 | 1658366 SteveOoooo
SteveOoooo's picture

You are the one who does not understand.

I agree though, clearly you cannot say anything better. 

Disapointing, and LOL indeed.

Sun, 09/11/2011 - 23:18 | 1658412 defender
defender's picture

Sigh, since you don't seem to be picking up the very relevant info that he posted, let me explain it in a little more relevant way.  You are saying that you did the best with what you had to work with.  In this instant, I tend to agree.  However, this is a straw man arguement as you can vote for anyone that your little heart desires.  What was suggested is that you should have realized that your choices were being restricted in such a way that you would be harmed by accepting either of the choices presented. You should have then worked to change this fact.

You are responsible for your own well being, as no one will go out of their way to improve your life at their detriment.  If you are going to put someone in power over you, you had better make sure that they benefit from the same things that you do.

Sun, 09/11/2011 - 21:28 | 1658179 Sgt.Sausage
Sgt.Sausage's picture

Woosh!

That went COMPLETELY over your head, didn't it?

Mon, 09/12/2011 - 07:51 | 1658944 Vendetta
Vendetta's picture

No one but globalist scum get nominated

Sun, 09/11/2011 - 17:22 | 1657338 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

You can't stimulate people who don't wanna work. USA = sloth nation with an entitlement attitude. I'll save my tears for the poor b**tards in the far east pulling 18 hours shifts for a $1.

Sun, 09/11/2011 - 17:42 | 1657414 DoChenRollingBearing
DoChenRollingBearing's picture

Tough guy FunkyMonkeyBoy makes a great point here.

Sun, 09/11/2011 - 17:58 | 1657473 SRV - ES339
SRV - ES339's picture

Hope you can save a bit of the vitriol for the fat cat leaches that "really" got us into this mess!

Yeah, it's those lazy bums on welfare... such easy targets for smug, intellectually challenged know it all's...

Sun, 09/11/2011 - 18:06 | 1657496 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Takes acquiescence. Evil triumphs while good men do nothing, and american sheeple have proven definitively in recently years that they are masters of doing a whole lot of nothing. 

Sun, 09/11/2011 - 18:08 | 1657506 jdelano
jdelano's picture

It's both. The whole country has been tacitly complicit in the banker's charade since day one, spending the windfall on cheap flat screens and taking on mortgages they knew they couldn't afford. I'm with funky monkey-- this country has forgotten how to build sweat equity and we're all in for a rude awakening, from top to bottom.

Sun, 09/11/2011 - 21:23 | 1658165 Marco
Marco's picture

Yes, poor maintenance on roads and airports will play havoc with the supply of truffels and oysters ... the top is going to face a rude awakening indeed.

Sun, 09/11/2011 - 20:03 | 1657946 escargot
escargot's picture

Yeah, it's a vast welfare-recipient conspiracy to crash the economy.  The noble bankers and corporate elites are fighting fiercely to stop the organized poor from dragging the middle class into debt, but to no avail.  The glamorous lure of a freeloader existence defined by Ramen Noodles, pre-paid cellular plans and empty wallets is far too tempting for most people, and soon they will bleed the hard working elites and the unsuspecting middle minions dry.  Damn the unemployed!  They must be stopped!  But how do we get through to them?  Who'd want a JOB once they've tasted the forbidden BLISS of mounting debt, harassing phone calls, social stigma, and constantly probing seat cushions for lost change? 

I can't wait till some of these self-congratulatory pontificating "blame the unemployed" malcontents find themselves getting shafted by this system.  They think they're above hard times?  The justice is going to swift, sweet, and brutal...

Sun, 09/11/2011 - 22:50 | 1658355 jdelano
jdelano's picture

My neighbor is a real estate guy. Started his own plumbing company when he was 22, worked 70-80 hour weeks until he was thirty and had amassed enough of a bankroll to start buying multi-families and apt complexes. Few weeks ago I went with him to one of his section 8 props. While we were rebuilding a stair bannister an 18 year old girl came up to my friend and told him "good news mr. R, I'm pregnant--I'll be getting my checks soon so I can finally move put of my parents and get my own apartment! Are there any openings coming up?"
This is not apocryphal. There are a lot of people out there with good work ethics that have fallen on hard times, I don't doubt that. But there are also a LOT of useless freeloading losers raised in a culture of entitlement--the corruption goes all the way through the system, from the bankers on down to the welfare milkers. There won't be any justice not like you're thinking. There will be indiscriminate misery, that affects the good and bad alike because we've All OF US let the country go to shit. See you in hell bud, I'll be the guy in the corner laughing maniacally.

Sun, 09/11/2011 - 19:22 | 1657815 Religion Explained
Religion Explained's picture

Well, it was a move up from the rice fields, wasn't it?

Sun, 09/11/2011 - 20:52 | 1658106 Hulk
Hulk's picture

100 million of us are obese...

Sun, 09/11/2011 - 21:06 | 1658134 Bicycle Repairman
Bicycle Repairman's picture

FunkyMonkeyBoy,  you recommend Americans pull 18 hour shifts for $1?

Sun, 09/11/2011 - 21:15 | 1658148 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

No, i recommend Americans remove the obvious evil within before they are forced to work 18 hour days for $1.

Sun, 09/11/2011 - 21:43 | 1658219 Bicycle Repairman
Bicycle Repairman's picture

OK.  I thought someone hacked your account.

Sun, 09/11/2011 - 17:22 | 1657339 ben_bernanke
ben_bernanke's picture

I thought Greece was supposed to default this weekend. Another bear fail. Oh, there's always that terrorist attack that might pan out.

Sun, 09/11/2011 - 17:27 | 1657359 Noah Vail
Noah Vail's picture

Names please? Who said that, other than yourself?

Sun, 09/11/2011 - 17:33 | 1657388 maxmad
maxmad's picture

Dont play with Bennie, he'll throw you out of the helicopter

Sun, 09/11/2011 - 17:38 | 1657399 nonclaim
nonclaim's picture

I thought Greece was supposed to default this weekend.

The formal announcement may never come... ponder that for a moment.

Sun, 09/11/2011 - 17:53 | 1657455 cossack55
cossack55's picture

Cool. So if it is not declared, it is not a fact.  I love this increasingly surrealistic planet.

Sun, 09/11/2011 - 18:16 | 1657536 nonclaim
nonclaim's picture

Pure insanity. The New Drachma will be announced as something great just like getting into the Euro was fantastic, never mind the lies and cooked books. And most will be relieved that the great crash was "averted".

Yes, you are broke but on the bright side you can start again from zero. See, fell better now don't you?

Mon, 09/12/2011 - 10:28 | 1659469 I did it by Occident
I did it by Occident's picture

Man, if I bought CDS on Greek bonds, then I would be pissed.  They are de facto defaulted, but since it is never formally declared, then the CDS won't pay off but be in some kind of limbo.  Seems like that would create even more uncertainty.

Sun, 09/11/2011 - 17:41 | 1657408 WestVillageIdiot
WestVillageIdiot's picture

Hey fuckface, the bullshit about a terrorist attack was from the bull(shit) camp.  Or does Bloomberg constitute a ZH'er?  Shouldn't you go back to fucking your neighbor's Labrador? 

You should go back to trolling at the Pink Parrot.

Sun, 09/11/2011 - 17:59 | 1657479 jdelano
jdelano's picture

You have no idea how consoling it is to me to know that there are still so many mindless bulls like you out there, ready to put your hand on the stove over and over again. I worry sometimes that eventually you guys will get smart--but it's a baseless fear. I'm gonna be able to keep trucking your money out of the market and buying gold with it all the way to he bottom!

Sun, 09/11/2011 - 17:28 | 1657364 cdevidal
cdevidal's picture

"Therefore, the 'temporary' payroll tax cut will be extended indefinitely, further impoverishing future generations."

 

You have a good point! Let's raise the taxes to 100%! Businesses will move to America by the thousands.

Sun, 09/11/2011 - 17:43 | 1657416 WestVillageIdiot
WestVillageIdiot's picture

I think the point is that the payroll tax funds Social Security.  They aren't cutting benefits now but they are cutting revenue streams.  Somebody will have to make up for that.  It sure isn't the over 80 crowd. 

Sun, 09/11/2011 - 17:45 | 1657421 cdevidal
cdevidal's picture

OK that makes sense. Too bad I can't remove my comment :-/

Sun, 09/11/2011 - 18:14 | 1657531 stirners_ghost
stirners_ghost's picture

Why would you want to remove it?

Look, a tax cut impoverishes no one. "Future generations" won't repay a dime of it. If Mr. Quinn thinks there's any way out of this mess besides default, he's delusional. The .gov's liabilities are an order of magnitude higher than they'll ever be able to afford, in the long run, barring some deus ex machina/cold fusion/rapture.

Sun, 09/11/2011 - 17:29 | 1657366 gwar5
gwar5's picture

Jobs plan is just doubling down on stupid, can't believe they'd try it again after the last one was such a disaster. It is a set up to make conservatives reject more stupid spending, so that Obama can try to shift blame for the economy going into the election. If anything superficially positive is going to happen it will come from Fed QE pumping up the illusion again.

 

 

Sun, 09/11/2011 - 17:31 | 1657373 gangland
gangland's picture

elite power in black face, they get him to slip in the velvet knife. $240 billion per year loss to SS, under the rubric of "stimulus" and "Job creation" and "tax cuts" who could argue against that? what the repugs could not do under chimp Bush, they get done by a Democrat gutting the democrat political legacy, all done in broad daylight and the people will love them for it. #occupywallstreet #Sept17

Sun, 09/11/2011 - 17:30 | 1657375 johnnymustardseed
johnnymustardseed's picture

We were screwed long before Obama did a thing

Sun, 09/11/2011 - 17:37 | 1657395 gangland
gangland's picture

ur dead on it's a culmination long time in coming

Sun, 09/11/2011 - 17:43 | 1657415 X.inf.capt
X.inf.capt's picture

yep, this die was cast long before we were even born.........

Sun, 09/11/2011 - 17:32 | 1657384 snowball777
snowball777's picture

Ssssh....don't tell the young of today or they'll turn their "gats" on the elderly!

Sun, 09/11/2011 - 17:35 | 1657392 WestVillageIdiot
WestVillageIdiot's picture

Obama is neither visionary nor a leader.  He is a politidcian.  He is a nutjob.  The man is dangerous because, in his narcissism, he actually thinks he is somebody.  And due to his race a bunch of racists also think he is somebody.  It is sad.

Sun, 09/11/2011 - 19:26 | 1657830 Religion Explained
Religion Explained's picture

Don't fret. Soon we will get another nut job to take his place.

Mon, 09/12/2011 - 07:56 | 1658962 Vendetta
Vendetta's picture

indeed.  Another globalist nut job

Sun, 09/11/2011 - 17:40 | 1657402 msmith
msmith's picture

Once again Obama is using his failed economic policy to ‘bailout’ special interest groups like teacher and road construction unions under the banner of creating jobs. Obama attempts to assume the new found un-constitutional role of job creator and chief. The fact is the president of the United States does not have the ability or perogative to create jobs.

Every time this guy opens his mouth the markets tank. Charting Obama's jobs speech : http://bit.ly/qvpX0e

Sun, 09/11/2011 - 17:45 | 1657423 WestVillageIdiot
WestVillageIdiot's picture

Every day George Bush looks a little better.  WTF?

Sun, 09/11/2011 - 17:55 | 1657463 cossack55
cossack55's picture

I'm not certain I would go that far.

Sun, 09/11/2011 - 19:28 | 1657837 Religion Explained
Religion Explained's picture

Bush > Noobama, even if 0.002 > 0.001.

Sun, 09/11/2011 - 17:40 | 1657405 Atomizer
Atomizer's picture
Where is the Rebuilding?

September 11, 2011 - 11:00 America/New_York -

This is 6 years ago, and still…

No comment needed. You will hear about busted budgets that the working class/Elite needs to fund. If we don't, they will create old school union terrorism funded by Big Sis.

Sun, 09/11/2011 - 17:40 | 1657406 Ben Bermonkey
Ben Bermonkey's picture

Trichet gave a second striking press conference, see this http://www.youtube.com/watch?v=jelCDnwpsxo               huuaahuauhuahua hahahahahaha.

How long does EUR survive in this form? 2 months, 2 weeks, 2 days?

Buy, eheem, what? NOK, SEK? SILV, GOLD? Stock-Puts? Land? Munition? Weapons? Gasoline?

There may be will be some ANTI-Rallye in the next few days?

Sun, 09/11/2011 - 17:42 | 1657412 digalert
digalert's picture

Hooked on green jobs

Hooked on stupid

Yah the Bamster has a jobs plan, dem green jobs. Hey Barama, how's the FBI's operation "clean as a whistle" over at Solyndra going? I understand the first you heard of the business was last week. Anymore of your pet projects about to blow that we oughta know about?

Sun, 09/11/2011 - 17:48 | 1657433 WestVillageIdiot
WestVillageIdiot's picture

"I didn't get elected to help some fat cat bankers."

That is correct.  He should have stated it differently.

"I didn't get elected to help some fat cat bankers.  I got elected to help some fat cat bankers, corrupt union officials, resource draining public unions, welfare recipients, the lazy, the stupid, the entitled, thuggish corporatists of all kinds, defense contractors and anybody else whose vote I could buy or could fill my campaign coffers."

 

 

Sun, 09/11/2011 - 18:20 | 1657564 nmewn
nmewn's picture

In speech littered with straw dogs...this one was good...

"I reject the idea that we need to ask people to choose between their jobs and their safety.

I reject the argument that says for the economy to grow, we have to roll back protections that ban hidden fees by credit card companies, or rules that keep our kids from being exposed to mercury, or laws that prevent the health insurance industry from shortchanging patients."

While all of that was simply delicious (my insurance is up 40% and banks now charge a myriad of different fees)...his advocating for and his administrations financial support of, the manufacturing those little curly light bulbs where you need to call out the fucking HAZMAT Team if you break one because of their mercury content was too much for me to bear...ROTFL!!!

I think I ruptured my spleen laughing...but I couldn't afford the medical bill to fix it ;-)

Sun, 09/11/2011 - 22:19 | 1658290 pods
pods's picture

Just don't crack a tooth.  Oh wait, when mercury is placed in your mouth is becomes harmless.

/sarc

pods

Sun, 09/11/2011 - 17:42 | 1657413 The Man in Room Five
The Man in Room Five's picture

Therefore, the “temporary” payroll tax cut will be extended indefinitely, further impoverishing future generations

It's funny to think that a payroll tax cut could be viewed as impoverishing future generations. Stealing less money from people is supposed to make their children poorer? It only makes sense under the assumption that spending will remain the same (or increase), and with the modern state it's easy to see why people make this assumption. But it really is bizarre how this assumption is standard operating procedure for the status quo.

Sun, 09/11/2011 - 17:49 | 1657437 WestVillageIdiot
WestVillageIdiot's picture

The tax cut only works if you also kill the other side of SS.  He is cutting revenues without cutting spending.  Do that in your own business and let us know how that works out for you.

Sun, 09/11/2011 - 21:01 | 1658124 Bicycle Repairman
Bicycle Repairman's picture

"He is cutting revenues without cutting spending."

That's right.  Obama isn't suicidal, and neither is Congress.  The checks will continue to go out and SS will be paid from the general fund.  Obama is borrowing the money.  Happy now?

Sun, 09/11/2011 - 17:45 | 1657420 Waffen
Waffen's picture

Actually Obama is doing us all a favor.  In fact I wish he had went for a 3 trillion dollar spending plan.

 

See if we are gonna have hyperinflation, lets get it on already.

Mon, 09/12/2011 - 00:16 | 1658526 X.inf.capt
X.inf.capt's picture

correct, waffen. BRING IT!

Sun, 09/11/2011 - 18:09 | 1657426 Hephasteus
Hephasteus's picture

Hey billy. Meet me behind the swings after school in 10 years. I'm going to kick your ass becasue I'm a time space pussy.

Haha. You can't vote you 8 year old little bitch. But I'm passing laws about you.......

Sun, 09/11/2011 - 17:52 | 1657450 deflator
deflator's picture

I have always viewed SSI as a Ponzi scheme but have had very little success in convincing others of it's lack of sustainability.

For a long time I expected SSI to eventually collapse, now I think they will inflate it away by eliminating the COLA adjustments.

Sun, 09/11/2011 - 21:20 | 1658158 Real Estate Geek
Real Estate Geek's picture

That's already in progress, thanks to BLS lies.

Sun, 09/11/2011 - 17:55 | 1657462 Mitch Comestein
Mitch Comestein's picture

I have to say that I agree with the author, but I don't care.  My reasoning is that,

1) The politicians will fuck it up anyway;

2) I might as well profit with a 6K tax cut. 

This is a HUGE tax cut on businesses.  I am self-employed, so it is a 6.2% tax cut.  Moreover, my employee compensation burden will be lessened by 3.1% times wages. 

I will probably buy gold or silver coins with the proceeds. I will buy select stocks if they look cheaper. 

I will not hire anymore employees.  I don't need one of them as it is.

I want to pay as little as possible into social security because I know that I will be screwed either way.  I am 36 YO.  How the hell am I going to get anything out of the system, even my principle back.  My best bet is to pay in as little as possible.  This stimulus allows me to do that. 

Sun, 09/11/2011 - 17:59 | 1657478 cossack55
cossack55's picture

You had better be careful applying logic to this situation. You could end up on "The List". 

Sun, 09/11/2011 - 18:01 | 1657488 TwelfthVulture
TwelfthVulture's picture

Bravo.  And I mean that sincerely.

Sun, 09/11/2011 - 18:07 | 1657501 DoChenRollingBearing
DoChenRollingBearing's picture

@ Mitch

Smart re not hiring.  Very burdensome.

But, I commend you for the guts to run a business here in the USA.  Best of luck.

Sun, 09/11/2011 - 18:22 | 1657569 topcallingtroll
topcallingtroll's picture

Actually if he is married he has a good chance of breaking even on social security even as a high earner and even including the opportunity cost of money that went to social security.

We business owners always have our wives working off the books. That is how we look like a married couple single earner family who will get the biggest subsidy.

I consider it my duty to help destroy socialism by minimizing taxes paid and hosing the government for as many benefits as possible. When I retire I will even look poor on paper. I will defeat means testing!

Buwahahahaha!

Sun, 09/11/2011 - 23:31 | 1658440 DoChenRollingBearing
DoChenRollingBearing's picture

The green was from me!

Sun, 09/11/2011 - 17:57 | 1657471 sunnyside
sunnyside's picture

I was granted a one on one face to face with my congressman not too long ago.  I asked several times for one and finally one of his aides called and asked if I could come to Washington to meet.  I said yes, name the date, and I will be there. 

I had anticipated that he would only give me about 5-15 minutes, but we talked straight for almost an hour.  Of the many items I brought up, I asked long term besides default or inflation, what was I missing as a possible fiscal end game?  He said that there were no other possibilities.  I was truly stunned when he said that out loud and without hesitation.  Regarding SS, I asked why I should keep paying into it when it was obvious it was insolvent.  His answer was I had to pay into it because it was the law.  

If any of you still think these people don't know what is going on, you are wrong.  They do and they are either trying to keep it going as long as possible until the crash, or they are trying to break it quicker to enact their idea of what government should be (right or wrong).

Sun, 09/11/2011 - 18:03 | 1657485 cossack55
cossack55's picture

You should have asked the dope if he had ever heard of Louis the XVI. 

Sun, 09/11/2011 - 18:09 | 1657512 DoChenRollingBearing
DoChenRollingBearing's picture

@ sunnyside

Good story, green for you.  Thanks for letting us know that these guys are more wicked than stupid.  Can't cure stupid.  Bad guys sometimes repent, not many though.

Sun, 09/11/2011 - 20:57 | 1658113 Bicycle Repairman
Bicycle Repairman's picture

You made this story up.  But your real congressman would be glad to tell you that you're paying. 

Know why? 

Because your congressman knows if the check isn't in the mail, he isn't going to be in office.

Sun, 09/11/2011 - 21:41 | 1658213 sunnyside
sunnyside's picture

No, I did not.  It really happened just as I wrote.  We talked about many other things too, including jobs, plant closings, breaking up the big banks (he was against it), and the bailouts.

He's a decent guy (Forbes-Va 4th), but I'm not sure that one can be around that much filth and not have some of it rub off.

 

Mon, 09/12/2011 - 12:54 | 1660029 FreedomGuy
FreedomGuy's picture

Seems to me he's telling you the Leviathan is too big to change or tame. We just have to let it fail.

Mon, 09/12/2011 - 08:08 | 1659010 Vendetta
Vendetta's picture

I happen to believe that.  It also follows along the Bix Weir theory of it all.  Though I'm sure many here either think he's a nut or don't know about him

Sun, 09/11/2011 - 18:00 | 1657481 TwelfthVulture
TwelfthVulture's picture

“A male average earner who retired at age 65 in 2010 paid out $345,000 in total Social Security and Medicare taxes, but will receive $417,000 in total lifetime benefits ($464,000 for a woman).

A much bigger disparity in taxes versus benefits occurs for couples. In the case of a household with only one wage earner, the taxes paid out were $345,000, but the benefits received by both parties will be $778,000. For two-earner couples where one earned the average wage and the other earned a low wage ($19,400), tax payout was $500,000, but benefits will be $800,000.

Those who retired in decades past saw much bigger returns for their payroll tax investment. But clearly this situation is not sustainable. It’s like putting all your expenses on a credit card knowing full well you don’t have the means to pay it back.” – Bankrate.

 

It is heartening, to say the least, that finally a stake is being driven into the heart of the myth that Social Security is only giving people back the money that they paid in.  Read that again and let it sink in.  Retirees receive out of the system MORE than they put in.

Sun, 09/11/2011 - 18:26 | 1657581 Arkadaba
Arkadaba's picture

Maybe I'm dense but just don't buy the argument that SS is insolvent because someone is taking out more than they put in (though it may be for other reasons). Isn't SS administered like any pension plan - namely they just don't take the money and put it under a mattress but they invest it? And they invest it because payouts will be greater than inputs due to inflation, etc. Compound interest - 30 dollars for 30 years at 2% interest = $54.34. I'm not saying it is not broken but equating money put in versus monies withdrawn without taking interest into account doesn't help me understand how/why it is broken.

Sun, 09/11/2011 - 18:36 | 1657622 TwelfthVulture
TwelfthVulture's picture

THERE IS NO INVESTMENT!  What don't people get about this?  It is a PONZI scheme, through and through.  Money that I pay today goes not into some account with my name on it, but instead gets sent to your neighbor's grandmother.  Broken?  It was never right in the first place.  Like Bernie Madoff's scheme, it only worked while the outgoing funds were less than the incoming funds.  Think of the rush of baby boomer retirements as the 2008 market crash, from here forward, the outgoing funds are going to swamp the incoming.

Sun, 09/11/2011 - 22:26 | 1658299 pods
pods's picture

Actually, it is worse than that.  Excess SS funds were loaned to the general fund via a special non- marketable treasury.  So, in order for CONgress to make good, they have to issue new treasuries to cover those in filing cabinet.

So, using newspeak, it is doubleplusgood!

pods

 

Sun, 09/11/2011 - 18:45 | 1657631 TwelfthVulture
TwelfthVulture's picture

I mean, honestly, people never bothered to question what and where the money was going and these FUCKERS VOTE????  If it wasn't for my rage, I would be incredulous.

 

And NO!  It wasn't, isn't, and won't be administered like a regular pension fund.  Fuck, it would be an improvement if they put it under a mattress.

 

IF YOU WORK, THE MONEY YOU SEND TODAY IS SENT AS A BENEFIT TO SOMEONE WHO RETIRED YESTERDAY!!!!!

 

AND IT'S NOT JUST SINCE LBJ, OR GORE'S LOCKBOX, OR ANY DAMN THING.  THIS IS THE WAY THE SYSTEM WAS DESIGNED FROM THE BEGINNING...

 

My ex-wife's grandfather told me the story of how when he was ready to retire, he stayed on for 6 extra months?  Why?  Because if he worked an extra 6 months he would pay into the Social Security sytem for ONE YEAR.  One year.  Then when he retired, he would be eligible for benefits.  Him and his wife.  He lived to be 102. 

 

Do you begin to see???????

Sun, 09/11/2011 - 18:53 | 1657706 Arkadaba
Arkadaba's picture

Just asking - I'm Canadian and our public retirement plan does invest:

http://www.cppib.ca/

Sun, 09/11/2011 - 19:17 | 1657799 TwelfthVulture
TwelfthVulture's picture

My apologies.  You're lucky.  Ours doesn't, hasn't, won't.  But, what can you expect, it was designed by the Roosevelts, Morgans, and Rockefellers.  It does what it was intended to do, pillage the middle class so that the upper class won't have to experience downward mobility.

Sun, 09/11/2011 - 18:37 | 1657630 LongBallsShortBrains
LongBallsShortBrains's picture

Even if they only got the money they paid in, what do you think it costs to pay every other expense of social insecurity?

The employees, the buildings, all the computers and paper and office supplies, software, etc etc etc.

People don't care what it costs as long as they get theirs.

Anybody that thinks a system like social security can be depended upon for their retirement had better have some very low quality of life expectations.

Come on! Everybody pay in.

Ask yourself this :

If we were to set up a retirement system to provide for the seniors when they can no longer work, without the involvement of the government.........

Would that new system look anything like social security?

Hahahahhaha

Bwahahaha

Sun, 09/11/2011 - 18:44 | 1657670 chubbar
chubbar's picture

Were those numbers adjusted for inflation over the 45 yrs or so that the person contributed and the 20 years he collected? I think the dollar has devalued on the order of 30% just since 2000, purchasing power is in a steep decline!

Sun, 09/11/2011 - 18:00 | 1657483 mfoste1
mfoste1's picture

this guy is a clown

Sun, 09/11/2011 - 18:01 | 1657487 holdbuysell
holdbuysell's picture

The point that we're maintaining SS and at the same time reducing the amount people are paying in doesn't make sense.

Are TPTB setting the system up for forced purchases of USTs from 401K contributions in lieu of contributing to the SS fund, which will slowly be put to rest?

Sun, 09/11/2011 - 18:03 | 1657492 slavador
slavador's picture

Non-union Canadian oil industry pays $26+/hr to start plus housing plus food plus overtime for males willing to work hard. It pays high taxes but still makes big profits.

These rich and often uneducated Canadian males in the oil patch are as numerous as rich finance workers in New York and Chicago. 

Non-union Texas oil industry pays $14/hr plus minimal benefits for males willing to work hard. It pays low taxes and is looking to pay less.

Food stamps are likely needed for these poor, uneducated and hardworking American's families from starvation.

If leadership in America was concerned about its citizens it would be easy to set up pockets of prosperity in every region.

Instead you have chosen to have just one (Wall Street) with wealth liberated from all regions to keep it fed. 

 

Sun, 09/11/2011 - 19:35 | 1657860 Reven
Reven's picture

Your definition of rich must differ from mine.  I don't consider earning $26/hr rich.  Depending on the cost of living, $26/hr could be a lot or a little, but Texas has a pretty low cost of living compared to other States.

Sun, 09/11/2011 - 18:07 | 1657502 topcallingtroll
topcallingtroll's picture

So where is lynnybee and all the other selfish old people like bicycle repairman now? " I paid into social security all my life to the gubmint and dang nabbit you young people are going to pay me the benefits I earned"

Only stupid people think they are getting back from social security just what they earned. The rest of us would dearly love to give you only what you earned and nothing more, you welfare whores.

Sun, 09/11/2011 - 18:12 | 1657524 DoChenRollingBearing
DoChenRollingBearing's picture

Hey top,

I paid very little into Social Security, and so I will not be qualified for any (I worked for .gov for a while and started three businesses, two of which failed).  That's OK.  I have savings.

I will not shed tears for Social Security or Medicare.

Sun, 09/11/2011 - 18:27 | 1657587 topcallingtroll
topcallingtroll's picture

U r one of the nice boomers do chen.

If people are going to be greedy bastards they should at least be honest about it and not couch their entitlement demands in self rigjtous language.

When we are lining up all the boomers to gas them I promise to put in a good word for you.

Sun, 09/11/2011 - 18:31 | 1657606 TwelfthVulture
TwelfthVulture's picture

u r also one of the nice ones.  I for one will be reminding the lined up boomers that NOW you can finally ask what you can do for your country.

Sun, 09/11/2011 - 18:20 | 1657558 TwelfthVulture
TwelfthVulture's picture

They are searching the web for the Krugman piece which states that for every dollar paid into social security recipients only receive back $0.05.

Sun, 09/11/2011 - 20:02 | 1657940 LongBallsShortBrains
LongBallsShortBrains's picture

And the administration and looting of social security get the other .95

Sun, 09/11/2011 - 20:52 | 1658105 Bicycle Repairman
Bicycle Repairman's picture

Well you certainly are a troll.  If you don't like paying for SS, bend over.  You're paying.

Sun, 09/11/2011 - 18:16 | 1657543 buzzsaw99
buzzsaw99's picture

Obama's plan sounds fine to me. I'm sure whichever repug replaces him in 2012 will do much better. :roll:

Sun, 09/11/2011 - 18:33 | 1657608 thewhitelion
thewhitelion's picture

I enjoyed the wheelchair ramp show in my town.  In some places they were installed where there were NO SIDEWALKS.

Sun, 09/11/2011 - 18:39 | 1657644 Caviar Emptor
Caviar Emptor's picture

So maybe the country should not have gone into debt during ww2. Future generations, ya know. 

Sun, 09/11/2011 - 18:48 | 1657685 TwelfthVulture
TwelfthVulture's picture

Yeah I'm grateful that I was saved from fascism.

Fascism: government control of private property.

Sun, 09/11/2011 - 18:56 | 1657711 slavador
slavador's picture

That is an excellent point. If Germany had been left alone it would have likely kept Stalin from spreading his errors so the excesses of the cold war would not have been needed. It is difficult to know how much better it would be by now without American involvement in WW2. Likely there would be no debt at this time and Americans would be more prosperous per capita than the Swiss. Stealing the German rocket program would not have been possible though so the first man on the moon would have been German...

Sun, 09/11/2011 - 19:01 | 1657739 Burr's 2nd Shot
Burr&#039;s 2nd Shot's picture

Excellent non-sequitur.  Looking for the William Banzai depiction of a Social Security card with the caption "This weapon kills fascists".

Sun, 09/11/2011 - 18:55 | 1657717 Westcoastliberal
Westcoastliberal's picture

Your numbers are way way off.  What about the interest on the dollars paid in by retirees? That more than covers the outflow.  Too bad if the gov wants to borrow the money from the SS trust fund, but to be honest, let's include interest in the equation and you'll see a much different result.

Sun, 09/11/2011 - 19:10 | 1657776 Deadpool
Deadpool's picture

This is so odd as to be laughable...there is no interest on money that doesn't exist. The SS trust fund is chock full of government IOUs from a government that spends $1.40 on every $1 it takes in. Don't be fooled into thinking the ponzi scheme of SS and Medicare will be there for anyone alive next year....think Greek pensions or Egyptian universal health care. Ain't available, please call back.....and if you haven't noticed the 10 year is below 2% so no interest owed on no principal held = sinola for you.

Sun, 09/11/2011 - 20:05 | 1657949 LongBallsShortBrains
LongBallsShortBrains's picture

Interest?

Interest?

Never mind. I know better

Sun, 09/11/2011 - 19:25 | 1657827 American Sucker
American Sucker's picture

Honest to God, I have no idea why a smart man would drive the Schuylkill Expressway every day to work.  That road is a nightmare.  (pronounced SKOO-kuhl).  The trains run to Norristown and Paoli.  Drive to one and take the train in.  You're burning years off your life fighting that traffic every day, if it doesn't actually kill you outright.

Sun, 09/11/2011 - 20:36 | 1658026 grunk
grunk's picture

Aren't the lights from 69th Street down to 30th Street timed? How about East or West River Drive?

EVERYTHING overturns on the Schuykill, record albums, bacon, cardbord boxes, engine parts.

Sun, 09/11/2011 - 20:30 | 1658029 baldski
baldski's picture

mfoste1: I agree, this guy is a clown. I don't see anybody talking about taking off the cap. According to the actuaries at the SSC, it would fund SS through 2100. I don't hear any of these rightwingnuts talking about it.

Sun, 09/11/2011 - 20:46 | 1658086 geologyguy
geologyguy's picture

Reset

Sun, 09/11/2011 - 20:49 | 1658096 Bicycle Repairman
Bicycle Repairman's picture

Again the depth of ignorance regarding SS on ZH is staggering.  Feel free to quote any numbers you like.  The SS system is managed by actuaries who have forgotten more about SS than you'll ever know.  The system is fine and will continue operating.  In fact when the baby boomers move on, the system will be completely solvent even under adverse scenarios.  Your children and grandchildren will get benefits.

Sun, 09/11/2011 - 21:07 | 1658137 Hulk
Hulk's picture

Looks like Hamy hacked the BR account...

Sun, 09/11/2011 - 21:11 | 1658142 Bicycle Repairman
Bicycle Repairman's picture

No.  This isn't satire.

Sun, 09/11/2011 - 21:24 | 1658169 HellFish
HellFish's picture

I hope you forgot the /sarc tag.

Sun, 09/11/2011 - 21:39 | 1658208 Bicycle Repairman
Bicycle Repairman's picture

The SS actuary's report is public, I believe.  Take a look.

Do NOT follow this link or you will be banned from the site!