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Thread: House bans welfare recipients' money from strip clubs, liquor stores

  1. #351
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    Quote Originally Posted by Catawba View Post
    SS has been so successful, it has a surplus of 2.6 trillion dollars,
    In IOUs.

    enough for full payments through 2036.
    As long as FedGov can borrow more to pay them. Obama and Geithner have both admitted that we need to use debt to cover SS payouts. There's no real "trust fund," Catawba. It's time to accept the reality of the situation.

    Now its time to pay back the money borrowed from SS by cutting our excessive military spending and eliminating the tax cuts for the rich.
    That doesn't provide us with extra cash. We're already running trillion dollar deficits. There is no money left to pay back borrowed money just by cutting the couple things you dislike and hiking taxes. You have to cut deeper than that.

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    Re: House bans welfare recipients' money from strip clubs, liquor stores

    Quote Originally Posted by Catawba View Post
    Yes, you do that.

    "Assets grew from about $47 billion at the end of December 1986 to about $2,609 billion ($2.6 trillion) by the end of December 2010."
    Social Security Trust Funds
    To bad the Social Security Administration's rosy outlook didn't last very long:

    Social Security

    Social Security expenditures exceeded the program’s non-interest income in 2010 for the first time since 1983. The $49 billion deficit last year (excluding interest income) and $46 billion projected deficit in 2011 are in large part due to the weakened economy and to downward income adjustments that correct for excess payroll tax revenue credited to the trust funds in earlier years. 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. Through 2022, the annual cash deficits will be made up by redeeming trust fund assets from the General Fund of the Treasury. Because these redemptions will be less than interest earnings, trust fund balances will continue to grow. After 2022, trust fund assets will be redeemed in amounts that exceed interest earnings until trust fund reserves are exhausted in 2036, one year earlier than was projected last year. Thereafter, tax income would be sufficient to pay only about three-quarters of scheduled benefits through 2085.
    Trustees Report Summary

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: House bans welfare recipients' money from strip clubs, liquor stores

    Food for thought: get rid of federal food stamps because it is unconstitutional.

    This is so annoying to me. There will always be those people that abuse welfare state programs at the expense of society. The problem is that the number is growing. It is completely unjust.

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    Re: House bans welfare recipients' money from strip clubs, liquor stores

    Quote Originally Posted by Catawba View Post
    SS has been so successful, it has a surplus of 2.6 trillion dollars, enough for full payments through 2036. The general fund used this surplus to reduce the debt caused by a needless war in Iraq and tax cuts for the wealthy. Now its time to pay back the money borrowed from SS by cutting our excessive military spending and eliminating the tax cuts for the rich.
    Now this is just funny right here.

  5. #355
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    Re: House bans welfare recipients' money from strip clubs, liquor stores

    Quote Originally Posted by Neomalthusian View Post
    In IOUs.
    In Treasury Bonds. The safest investment there is. The US has never in its history failed to honor its Treasury Bonds.


    As long as FedGov can borrow more to pay them.
    There is no need to borrow more to pay them, just eliminate the tax cuts on the rich that prevents the US from paying its debts.


    Obama and Geithner have both admitted that we need to use debt to cover SS payouts. There's no real "trust fund," Catawba. It's time to accept the reality of the situation.
    The general fund has a debt problem. SS has a 2.6 trillion dollar surplus.



    That doesn't provide us with extra cash. We're already running trillion dollar deficits. There is no money left to pay back borrowed money just by cutting the couple things you dislike and hiking taxes. You have to cut deeper than that.
    Than we have to once again start acting responsible and cut our excessive military spending and tax cuts to the wealthy that created the debt to SS and start paying it back.

    When did people start thinking that it wasn't irresponsible to just walk away from your debts???
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: House bans welfare recipients' money from strip clubs, liquor stores

    Quote Originally Posted by Gill View Post
    To bad the Social Security Administration's rosy outlook didn't last very long:


    Trustees Report Summary
    You posted it without reading it?


    What does this say from your quoted post above?



    "trust fund reserves are exhausted in 2036"
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: House bans welfare recipients' money from strip clubs, liquor stores

    Quote Originally Posted by Catawba View Post
    In Treasury Bonds. The safest investment there is. The US has never in its history failed to honor its Treasury Bonds.
    They are still IOUs.


    There is no need to borrow more to pay them, just eliminate the tax cuts on the rich that prevents the US from paying its debts.
    If we taxed the "rich" at 100%, it wouldn't come close to paying Obama's blooming debt.

    The general fund has a debt problem. SS has a 2.6 trillion dollar surplus.
    Don't believe the SS Trust Fund Trustees, eh?



    Than we have to once again start acting responsible and cut our excessive military spending and tax cuts to the wealthy that created the debt to SS and start paying it back.

    When did people start thinking that it wasn't irresponsible to just walk away from your debts???
    Tax cuts are a drop in the bucket compared to of SS and Medicare.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: House bans welfare recipients' money from strip clubs, liquor stores

    Quote Originally Posted by bennymac5151 View Post
    Food for thought: get rid of federal food stamps because it is unconstitutional.

    This is so annoying to me. There will always be those people that abuse welfare state programs at the expense of society. The problem is that the number is growing. It is completely unjust.

    Here's food for thought, pay people enough for full time work so they don't need food stamps.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: House bans welfare recipients' money from strip clubs, liquor stores

    Quote Originally Posted by Catawba View Post
    You posted it without reading it?


    What does this say from your quoted post above?



    "trust fund reserves are exhausted in 2036"
    Nope, read every bit of it. Where do you think those funds are coming from ??? The U.S. has to borrow money to pay back the trust fund, so it is robbing Peter to pay Paul.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: House bans welfare recipients' money from strip clubs, liquor stores

    Quote Originally Posted by Gill View Post
    They are still IOUs.

    From your source:



    "trust fund reserves are exhausted in 2036"
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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