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Thread: Boehner, Obama Remarks on Budget Deal

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    Re: Boehner, Obama Remarks on Budget Deal

    Surely you people aren't claiming that there is no unfunded liability estimate. The SSA estimates 75 year projections. The projection models a $107 TRILLION shortfall. It is basic business practice to estimate the financial health projections of your company. The same is true of the government. Unless benefits are seriously curtailed, payroll taxes alone will be 37%. Income taxes will fall on top of that. Mother****ers who passed this stinking pile of **** in 1937.

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    Re: Boehner, Obama Remarks on Budget Deal

    Quote Originally Posted by Deuce View Post
    Which, again, is completely meaningless because you can infinitely extend the time frame and claim whatever number you like. If you extrapolate out to the year infinity, our unfunded liability is INFINITY DOLLARS!!!
    Excellent point. This is all smoke and mirrors and more right wing think tank scare tactics.
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    Re: Boehner, Obama Remarks on Budget Deal

    Quote Originally Posted by reefedjib View Post
    Surely you people aren't claiming that there is no unfunded liability estimate. The SSA estimates 75 year projections. The projection models a $107 TRILLION shortfall. It is basic business practice to estimate the financial health projections of your company. The same is true of the government. Unless benefits are seriously curtailed, payroll taxes alone will be 37%. Income taxes will fall on top of that. Mother****ers who passed this stinking pile of **** in 1937.
    It's still a meaningless term. There's no "funded liability." There's "liabilities we expect to fund" and "liabilities we still haven't figured out how to fund yet"
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
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    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Boehner, Obama Remarks on Budget Deal

    Quote Originally Posted by Deuce View Post
    It's still a meaningless term. There's no "funded liability." There's "liabilities we expect to fund" and "liabilities we still haven't figured out how to fund yet"
    Whatever, dude. They are popularly called unfunded liabilities. The freaking "THE 2010 ANNUAL REPORT OF THE BOARD OF TRUSTEES OF THE FEDERAL OLD-AGE AND SURVIVORS INSURANCE AND FEDERAL DISABILITY INSURANCE TRUST FUNDS", from the SSA, calls them unfunded obligations. Same ****ing difference. Take it up with the SSA.

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    Re: Boehner, Obama Remarks on Budget Deal

    Did John start crying?

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    Re: Boehner, Obama Remarks on Budget Deal

    Quote Originally Posted by Deuce View Post
    Unfunded liability is essentially a meaningless term, since it indicates there's a "funded liability" that is somehow superior.
    um. a funded liability (that is to say, money you will have to pay out in the future, but which you have on hand already) IS superior.

    and as for "figuring out how to pay for it", there isn't a way to do so. the CBO modeling computers refuse to take the entitlement system as it is today past 2037 because they cannot come up with any set of economic data that allows us to have an economy past that point.

    we will either reform our entitlements on purpose and as we want to, our our creditors will do it for us at a time and manner of their choosing. Those are our options at this point.

    The debt ceiling is far more serious than even the partial shutdown we just avoided. The GOP is going to do about the same as they did this time: make a bunch of noise to please the base and then raise the debt ceiling because they have to.
    they don't have to. they probably will in return for something pretty serious.

    but it's going to have to be pretty serious in order to get them on board.
    Last edited by cpwill; 04-09-11 at 10:24 PM.

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    Re: Boehner, Obama Remarks on Budget Deal

    Quote Originally Posted by Deuce View Post
    Those funded and unfunded liabilities you mentioned are both backed by the same thing, though. The US treasury. Nothing is "allocated" until it's actually paid. Because whose to say the "allocated" funds will actually exist when the time comes?
    What hogwash.

    Funded liability is liability for which the taxes have been collected and the funds set aside for use paying that debt. Under no circumstances can any nation foolish enough to run trillion dollar annual deficits have anything resembling funded liabilities.

    Thank you, Msrs Obama and Bush and Reid and the rest of the corrupt gang of leftists who've managed to con their way to Washington, thank you for putting slave collars on the Mayor's grandchildren.

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    Re: Boehner, Obama Remarks on Budget Deal

    Quote Originally Posted by sameerkale View Post
    What people dont realize is that to tackle the budget problem we need both spending cuts and higher taxes. Yes, we will be paying more taxes for less services. But that is better than either (a) cutting most important services, or (b) raising taxes to ridiculous levels.
    No, we don't need higher taxes, we need tar and feathers for the politicians who want to raise taxes, period, and those who refuse to cut spending need a double dose.

    What needs to be done is, not a fight over the budget, but a real discussion about, as a country, what is most important to spend on.
    It's absolutely impossible to have a real discussion about the budget when the Democrats proposed four billion dollars in cuts from a four thousand billion budget, and were convinced they were cutting to the bone.

    Once people are elected who are serious about ending deficit SPENDING, the next part of the discussion will not be where to cut, but which unconstitutional programs are cut first, which are cut later.

    The final part of the budget repair process will be trimming the Constitutional spending to sane limits that meet sane national objectives.

    As a hint, none of the following are allowed by the Constitution:

    Education.
    Health.
    Welfare.
    Corporate subsidies, including paying stupid farmers to not grow things.
    Bells on the toes programs like NPR and the NEA.
    Almost all pork.

    Pay attention to the Constitution.

    It means something.

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    Re: Boehner, Obama Remarks on Budget Deal

    Quote Originally Posted by Deuce View Post
    Which, again, is completely meaningless because you can infinitely extend the time frame and claim whatever number you like. If you extrapolate out to the year infinity, our unfunded liability is INFINITY DOLLARS!!!
    This is your response?

    Your beloved government, which can do no wrong in your eyes unless it's defending the nation, you're now saying it's wrong when it projects the liability people ALIVE TODAY will have to pay if no actions are taken to alter the course of events? You're claiming that's an irrational baseless extrapolation?

    And...you're one of the people crapping their pants over the ridiculous claims by the IPCC about global warming, too.

    The Mayor supposes that you only accept extrapolations when they promote your world view. The truth means nothing to you, apparently.

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    Re: Boehner, Obama Remarks on Budget Deal

    Quote Originally Posted by reefedjib View Post
    Surely you people aren't claiming that there is no unfunded liability estimate. The SSA estimates 75 year projections. The projection models a $107 TRILLION shortfall. It is basic business practice to estimate the financial health projections of your company. The same is true of the government. Unless benefits are seriously curtailed, payroll taxes alone will be 37%. Income taxes will fall on top of that. Mother****ers who passed this stinking pile of **** in 1937.
    While you can blame them, and rightly so, when SS was passed, only the rare person lived to collect, and they only lived for a few years, typically.

    The mofo's you should be upset with are every retiree who threatened his congressman if they ever did anything sensible lile raising the retirement age, means testing the system, or restricting eligibility in other ways to keep costs down.

    You can especially blame those mofo's who declared wino's and drug addicts were "disabled" and eligible for SS Disability benefits, and all the other nonsensical expansions of payouts to garner more votes.

    This is the natural course of societies who discover they can vote themselves bread from the treasury if they only violate the Constitution first.

    And, naturally, the people at the top of the pyramid made out quite well.

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