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

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

    Quote Originally Posted by The Prof View Post
    if you think about it, this republican demand, "dollar for dollar," does not really balance

    the 2.4T advanced to the govt is relatively NOW, borrowing to get us thru the next 18 months

    the 2.4 trillions cut are over ten years

    the math is one thing, ie, who cares

    except the little pair of inequalities above is starting to rumble thru a really disgusted house republican caucus
    I don't follow. They're concerned about the interest payments??? If we could advance 2.4T to cover the next 18 months by cutting over the next 18 months, we wouldn't need to be having a discussion on the debt ceiling.

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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
    Your argument is that ~$1500B in government spending is all that keeps the US from turning into Mexico, complete with food riots?
    I cannot -possibly- laugh any louder.


    Somehow I knew your response would be nothing more than a smartassed comment. Now for reality ask yourself how many military families would be unable to eat, then ask yourself how many seniors and disabled would be unable to eat. Then ask yourself how many people it takes to start a riot.

    Your proposal to simply cut 43% across the board is completely with any basis in reality.

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

    When talking about reducing debt (versus deficit), it might be good to remember only (can/should I use that word?) about 37% is owed to foreign nations. Seems to me a sensible approach would be to prioritize actually paying down principal on those debts first, while maintaining interest payments on the remainder. I would start with those nations deemed "unfriendly" to our long term interests (China and Oil Producing States).
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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Quote Originally Posted by Polotick View Post
    Somehow I knew your response would be nothing more than a smartassed comment.
    It was entirely appropriate, given the inanity of your argument.
    You REALLY beleive that the US will collapse if the government doesn't spend $1500B?

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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
    The second condition isn't a default, as the term is used to describe a failure to pay our debt service.

    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.
    Social Security and Medicare are entitlement programs. I called it a quasi-default because that's how markets would view it: a failure to make good on our obligations. Just because we nominally make our interest payments doesn't mean that bondholders will be fooled that easily; they'll be able to see what is happening. Failure to pay our bills as promised (whether to bondholders or senior citizens) would cause a decline in our credit rating, a rise in our interest rates, and at least some of our debt to not be rolled over.

    Yup. Cut everythng 43%. Live within our means.
    Like I said, that isn't going to happen for any sustained length of time. The voters won't tolerate it, and any politician who supports it will be absolutely skewered by his/her political opponents.
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    Re: Obama says he cannot guarantee Social Security checks will go out on August 3

    Quote Originally Posted by MrVicchio View Post
    Obama says he cannot guarantee Social Security checks will go out on August 3 - Political Hotsheet - CBS News



    The Good President will have to let Old People, Disabled people STARVE because of the damned dirty GOP.




    Starve you hear, STARVE.
    Hussein Obama and scare tactics nothing more nothing less...
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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
    Urging an unyielding theological line of no compromise whatsoever is exactly a championing of a failure to reach agreement. One cannot separate the consequences from the choice. Choices have consequences. Mr. Levin knows full well that a complete refusal to compromise will lead to a failed negotiation.
    If you truly believe that, I'm curious why you're not castigating Obama for his "championing a failure in negotiations."

    He's also staked out "an unyielding theological line of no compromise whatsoever" in refusing any deal that doesn't include a tax increase.

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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
    It was entirely appropriate, given the inanity of your argument.
    You REALLY beleive that the US will collapse if the government doesn't spend $1500B?

    I'm going to go troll smelly Pagans, they are brighter than you, and more fun.

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

    Quote Originally Posted by Kandahar View Post
    Social Security and Medicare are entitlement programs. I called it a quasi-default because that's how markets would view it: a failure to make good on our obligations.
    We define these obligations as we choose. Change the definition to one that's 43% less, and the obligations are met.
    Deciding to lower you kids' allowance won't do anyting to the interest rate on your credit card; your argument here is unsound.

    Just because we nominally make our interest payments doesn't mean that bondholders will be fooled that easily; they'll be able to see what is happening.
    Whcih is... we're paying our current debt service and cutting spending so we do not take on more debt.
    Seems pretty darned responsible to me - how, exactly, would this cause interest rates to rise?

    Like I said, that isn't going to happen for any sustained length of time. The voters won't tolerate it
    Well, we -do- get the government we deserve... If the people decide they'd rather have out-of-control debt that will eventually lead to a fiscal, then economic, and then societal collapse, as opposed to the perceived 'pain' caused by forcing the government to spend $1500B less, there's no much anyone can do about it.
    Enjoy your future. Hope you have plenty of ammunition.
    Last edited by PzKfW IVe; 07-13-11 at 03:20 PM.

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

    Quote Originally Posted by Polotick View Post
    I'm going to go troll smelly Pagans, they are brighter than you, and more fun.
    The ad hom, final refuge of those with nothing worth listening to.

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