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Thread: Obama says he cannot guarantee Social Security checks will go out on August 3

  1. #161
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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Quote Originally Posted by PzKfW IVe View Post
    Reduce the spending on everything by 43%.
    SocSec - cut benefits 43%...
    So, you want to cut the SS checks by 43%?

    How do you expect these people to survive if you do such a stupid thing?

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Quote Originally Posted by Texmex View Post
    So, you want to cut the SS checks by 43%?
    How do you expect these people to survive if you do such a stupid thing?
    Irrelevant. If the debt ceiling is not raised, then spending -must- be cut to match revenue.
    No program, no entitlement - nothing is above being cut.
    Last edited by PzKfW IVe; 07-13-11 at 10:37 AM.

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    IMO, some of the comments about the debt ceiling, especially among radio hosts such as Mark Levin (who is openly championing a failure of negotiations), are surreal. The political denial in Washington is also quite surreal.

    Major fiscal consolidation is necessary and inevitable. Indeed, one fund manager argued that a U.S. default is a matter of time.

    Increasingly, the only real question is whether the U.S. fiscal consolidation program will be something the U.S. has latitude to shape when market conditions remain relatively benign/interest rates abnormally low or something that will essentially be imposed when a crisis is imminent or underway. The former approach would allow for a transition to mitigate the macroeconomic and social pain. The latter would require wrenching choices and little or no transition. The former could be feasible with smaller sacrifices. The latter would require much larger ones, due to higher interest rates/reduced long-term growth prospects, and prevailing negative psychology. The sooner credible action is undertaken, the less likely a crisis would be. Little or no credible action over the next few years could well provide the invitation to a crisis.

    Finally, if I were evaluating U.S. credit risk (and it's probably a good thing that I'm not), I would probably put the U.S. under review for a possible ratings downgrade if no debt ceiling deal is reached in the next 7-10 days. Then, beyond a debt ceiling-modest fiscal consolidation agreement, in order to preserve the AAA rating, I would be looking for progress with respect to two criteria over the next 6-12 months:

    1. Construction of a balanced and credible fiscal consolidation strategy, with a credible upfront component. Mandatory spending and Tax Code changes would both be needed for the longer-term. Spending-driven consolidation should, consistent with empirical literature on successful consolidation efforts, exceed revenue measures by a > 2-to-1 margin. Moreover, tax measures should be focused broadly not narrowly.

    2. Evidence that the U.S. is undertaking steps to address what is now a political dysfunctionality problem.

    Failure to begin laying out a credible fiscal consolidation strategy would leave the nation on its present unsustainable fiscal course. Failure to begin addressing the political dysfunctionality problem would raise questions about the credibility of U.S. fiscal commitments and the capacity to shape/implement/sustain a fiscal consolidation strategy.

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Quote Originally Posted by PzKfW IVe View Post
    Irrelevant. If the debt ceiling is not raised, then spending -must- be cut to match revenue.
    No program, no entitlement - nothing is above being cut.
    As you called for all spending to be slashed by 43%, that would mean cutting soldiers' salaries for 43%, among many other things. That's not a viable approach. The budget cannot instantaneously be balanced without inflicting severe harm. A transition toward balance and then later debt reduction will be needed.

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    We've been kicking this can down the road long enough. It's time to show fiscal responsibility. I can't stand when liberals say "well we've raised it a half million different times in the past, why not this time?" That is irresponsible, immature and completely clueless behavior/attitude. And what's worse, is saying that republicans have raised it in the past. Ok, so what? If McCain would be in office right now I'd still stand behind not raising the debt ceiling. We can't keep this up, if we don't cap our debt, we will collapse as a nation owing a lot more than we owe now. As it is, we can't pay our debts off if we wanted to. Our unsecured debt is more than all of the money in the world. How the hell do we pay that off? Who cares if our credit rating goes down a step? We're still the strongest economy in the world and investors around the world STILL run to the dollar when they get scared. If America gets downgraded to AA status from AAA, then AA will be the new AAA. Simple as that.

    No, it's time for fiscal conservatives to behave according to why they were voted in in November. Liberals don't like to admit it, but the ass whopping they took in November was in direct response to Obama's poor handling of the economy. Republicans were elected to fix this mess and stop the madness. I agree with Sean Hannity, any republican that votes in favor of raising the debt ceiling is committing political suicide. They weren't voted in to continue business as usual, like the democrats want to happen so badly. No, they were voted in to actually DO something, and I'll be damn, they're doing something. I've never been more proud to be a libertarian who is actually supportive of the right at this moment in time with regards to this issue. Stand firm and stand your ground. We can't keep going like this, its going to hurt a little now or a lot later. I vote for a little now.
    Last edited by dontworrybehappy; 07-13-11 at 11:12 AM.

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    What a dirtbag move by the POTUS... Scare and fear tactics...... These checks will go out, and Obama should be ashamed of himself threatening seniors and Veterans.
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Quote Originally Posted by donsutherland1 View Post
    As you called for all spending to be slashed by 43%, that would mean cutting soldiers' salaries for 43%
    It would require cutting defense spending by 43%. The details of how those cuts are applied are determined elsewhere - and so, it is not at all necessary that soldiers' pay will drop 43%.

    That's not a viable approach.
    Sure it is. It's not an -easy- approach. But, at this point, nothing is easy.
    Last edited by PzKfW IVe; 07-13-11 at 11:27 AM.

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Social Security is an important things for all social life. So we need social security all times.

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Quote Originally Posted by Kal'Stang View Post
    You gotta admit though...it was kind of obvious that he would.
    yeah. but it's always sad to see a President of the United States debase the office.

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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Quote Originally Posted by ReverendHellh0und View Post
    What a dirtbag move by the POTUS... Scare and fear tactics...... These checks will go out, and Obama should be ashamed of himself threatening seniors and Veterans.
    Does this really shock you? They have no accomplishments to run on, so they scare the **** out of people to make them support the dems.

    It's been their modus operendi for decades.

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