Page 23 of 59 FirstFirst ... 13212223242533 ... LastLast
Results 221 to 230 of 586

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

  1. #221
    Banned
    Join Date
    May 2011
    Last Seen
    10-16-11 @ 03:14 PM
    Gender
    Lean
    Very Conservative
    Posts
    1,845

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

    Quote Originally Posted by Kandahar View Post
    But you are overlooking that the debt ceiling WILL be raised.
    The consequences you listed were predicated on the idea that it would not be raised.
    That's what I responded to; your post is inaccurate because of the reasons I listed.
    Last edited by PzKfW IVe; 07-13-11 at 02:33 PM.

  2. #222
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

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

    it certainly sounds to me like something the great one, mark levin, would say

    most informed americans agree with him, by the way, according to gallup, today

    be all that what it may

    it appears the egghead economists have A LOT more explaining to do

    they better hurry up

    however, it's very simple, informed moms and pops see clear

    the prez wants 2.4 to get thru next november

    the knuckle dragging neanderthals led by michelle bachmann who, if not a slut is certainly a nut, insist on d4d, dollar for dollar

    they WERE in agreement on about 1.7 as of about sunday

    except everything's kinda blown up since then

    one thing underlying all of this, bigtime---which few remark upon---is the seething personal hatred the parties feel towards each other personally, both sides

    we'll all know soon

    patience

  3. #223
    Advisor Polotick's Avatar
    Join Date
    Jul 2011
    Last Seen
    08-17-11 @ 10:46 AM
    Gender
    Lean
    Undisclosed
    Posts
    374

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

    U.S. Foreign Aid as of 2009. There is some real money here folks.

    http://www.census.gov/compendia/stat...es/11s1296.pdf

    http://www.census.gov/compendia/stat...es/11s1298.pdf

    Perhaps it's time to pull back and fix our personal problem instead of playing big brother to the world.

  4. #224
    Sage

    Join Date
    Oct 2007
    Location
    New York
    Last Seen
    11-28-17 @ 04:47 PM
    Gender
    Lean
    Centrist
    Posts
    11,690

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

    For those who want to examine the impact of a failure to raise the debt ceiling in August, Bloomberg.com has a tool. Users can make their own choices. Afterward, one can have an idea what programs they did not fund.

    August Invoices Show U.S. Treasury

    NOTE: The tool does not consider a scenario where some of the debt is not rolled over and principal payments need to be made. Under such a scenario, even less cash would be available, assuming the U.S. seeks to avoid a debt default. The tool also assumes that all of each spending category is funded e.g., all Social Security payments are made, instead of partial funding.

  5. #225
    Enemy Combatant
    Kandahar's Avatar
    Join Date
    Jul 2005
    Location
    Washington, DC
    Last Seen
    10-15-13 @ 08:47 PM
    Gender
    Lean
    Liberal
    Posts
    20,688

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

    Quote Originally Posted by PzKfW IVe View Post
    The consequences you listed were predicated on the idea that it would not be raised.
    That's what I responded to; your post is inaccurate because of the reasons I listed.
    I am concerned that it will not be raised in time to avert default...whether an actual default (i.e. we stop servicing our debt) or a quasi-default (i.e. we direct our remaining resources toward debt servicing, but fail to make good on something else). Either of these would be very bad for the credit rating of the US, which would cause our interest rate to spike. Meanwhile, we'll be faced with an immediate 43% reduction in government spending.

    On the other hand, I am not at all concerned that the government will fail to raise the debt ceiling for any permanent-ish length of time. It's just not politically possible...people will start screaming bloody murder after the first social security check is missed, the first soldier goes unpaid, or the first doctor isn't compensated by Medicare. Congress will absolutely relent and raise the debt ceiling (even now, McConnell and Boehner have both given public assurances that they plan to raise the debt ceiling and regard not doing so as an unthinkable option). The main question is do we raise it now...or AFTER our credit rating falls, interest payments go up, and a good chunk of those spending cuts are negated?
    Are you coming to bed?
    I can't. This is important.
    What?
    Someone is WRONG on the internet! -XKCD

  6. #226
    Banned
    Join Date
    May 2011
    Last Seen
    10-16-11 @ 03:14 PM
    Gender
    Lean
    Very Conservative
    Posts
    1,845

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

    Quote Originally Posted by donsutherland1 View Post
    For those who want to examine the impact of a failure to raise the debt ceiling in August, Bloomberg.com has a tool. Users can make their own choices. Afterward, one can have an idea what programs they did not fund.

    NOTE: The tool does not consider a scenario where some of the debt is not rolled over and principal payments need to be made. Under such a scenario, even less cash would be available, assuming the U.S. seeks to avoid a debt default. The tool also assumes that all of each spending category is funded e.g., all Social Security payments are made, instead of partial funding.
    Lookd to me like spendng on each item would need to be cut by the same 43% we've been discussing for some time now.

  7. #227
    Sage

    Join Date
    Oct 2007
    Location
    New York
    Last Seen
    11-28-17 @ 04:47 PM
    Gender
    Lean
    Centrist
    Posts
    11,690

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

    Quote Originally Posted by PzKfW IVe View Post
    If the debt ceiling is not raised, there cannot be a deficit as there will be nothing to spend once available revenue is gone.
    If interest rates go up, then our interest payemts will go up; revenue available for other spending will go down - but there will not be a deficit.
    So, there will not be more government spending, just more spending on interest.
    Until the debt ceiling would be raised, there would be no deficit. However, the impact of the rise in interest rates would be larger long-term imbalances due to slower macroeconomic growth (reduced revenue) and higher debt service costs (interest expense on the existing debt).

  8. #228
    Banned
    Join Date
    May 2011
    Last Seen
    10-16-11 @ 03:14 PM
    Gender
    Lean
    Very Conservative
    Posts
    1,845

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

    Quote Originally Posted by Kandahar View Post
    I am concerned that it will not be raised in time to avert default...whether an actual default (i.e. we stop servicing our debt) or a quasi-default (i.e. we direct our remaining resources toward debt servicing, but fail to make good on something else).
    The second condition isn't a default, as the term is used to describe a failure to pay our debt service.

    Either of these would be very bad for the credit rating of the US, which would cause our interest rate to spike.
    Not paying our debt service would do this - but then, no one has contemplated not paying our debt service.
    Not paying full SS benefits, or full medicare benefits, or full funding the US National Park system, et al, would not.

    Meanwhile, we'll be faced with an immediate 43% reduction in government spending.
    Yup. Cut everythng 43%. Live within our means.

  9. #229
    cookies crumble
    ARealConservative's Avatar
    Join Date
    Oct 2006
    Last Seen
    04-21-17 @ 09:41 PM
    Gender
    Lean
    Libertarian
    Posts
    14,518

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

    Quote Originally Posted by toddwv View Post
    It's not a threat, it's the truth. SS isn't in a lockbox, it has been dumped into the general fund for decades in order to mask out-of-control "defense" spending. Right now, some "contractor" in Iraq is using SS money to pay for a new 'Beamer.

    So, there is no guarantee that SS checks will go out. Those who are already receiving checks will most likely get them, those who are applying for new benefits probably won't.
    the Clinton surplus came about from raiding the trust, but I imagine partisan hacks will continue bragging about that phony surplus.

  10. #230
    Advisor Polotick's Avatar
    Join Date
    Jul 2011
    Last Seen
    08-17-11 @ 10:46 AM
    Gender
    Lean
    Undisclosed
    Posts
    374

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

    So, here we are in major financial crisis. Some propose cutting across the board cuts of 43%. This would include SS and military pay.

    Setting aside the human issues involved in this for the time being, look at the negative impact that would have at the retailers and grocers doors. This would also reduce sales tax income and so on.

    Welcome to the third world America.

    State and local governments would be forced to either shut down or scale back to most painful degrees.

    Now we have very angry, very hungry people on the streets and in all probability severely reduced police forces.

    Welcome to Anarchy America.

Page 23 of 59 FirstFirst ... 13212223242533 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •