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Thread: The results are in on social security

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    Re: The results are in on social security

    Quote Originally Posted by donc View Post
    Fact one= Social Security has a $2.6-trillion surplus that is projected to grow to more than $4 trillion in 2023.

    Fact two= Social Security invests its surpluses, as it should, in U.S Treasury bonds, the safest interest-bearing securities in the world. The same paper that we sell to China, Japan and other wealthy investors.


    Anything you would like to add besides your opinion?
    No. There is no point. You are deluded. You want to be deluded. It is best for me to just get out of your way and let you destruct on your own.

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    Re: The results are in on social security

    Quote Originally Posted by Misterveritis View Post
    No. There is no point. You are deluded. You want to be deluded. It is best for me to just get out of your way and let you destruct on your own.
    Before you get out of my way, you could at least point out to me where i am deluded.That,s just awful,see a deluded ole man and not point out where the poor soul is deluded.Borders almost on cruelty,if a person did that to an animal they would be reported to the proper authorities and be fined.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: The results are in on social security

    Quote Originally Posted by Misterveritis View Post
    No. There is no point. You are deluded. You want to be deluded. It is best for me to just get out of your way and let you destruct on your own.
    is 'got out of your way' an expression meaning 'run from a debate which i have lost'?
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: The results are in on social security

    Quote Originally Posted by justabubba View Post
    is 'got out of your way' an expression meaning 'run from a debate which i have lost'?
    promises promises.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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    Re: The results are in on social security

    Quote Originally Posted by donc View Post
    Fact one= Social Security has a $2.6-trillion surplus that is projected to grow to more than $4 trillion in 2023.

    Fact two= Social Security invests its surpluses, as it should, in U.S Treasury bonds, the safest interest-bearing securities in the world. The same paper that we sell to China, Japan and other wealthy investors
    not really. the SS Fund takes a different kind of "security" from the Treasury. as the Office of Management and Budget puts it:

    ...These [Trust Fund] balances are available to finance future benefit payments and other Trust Fund expenditures – but only in a bookkeeping sense.... They do not consist of real economic assets that can be drawn down in the future to fund benefits. Instead, they are claims on the Treasury that, when redeemed, will have to be financed by raising taxes, borrowing from the public, or reducing benefits or other expenditures. The existence of large Trust Fund balances, therefore, does not, by itself, have any impact on the Government’s ability to pay benefits. (from FY 2000 Budget, Analytical Perspectives, p. 337)



    but hey, i mean, that's from the Clinton Administration. bunch of right-wing loons, those guys.

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    Re: The results are in on 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.
    Trustees Report Summary

    hey, it's all good

    it's in the lockbox

    LOL!

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    Re: The results are in on social security

    Quote Originally Posted by justabubba View Post
    is 'got out of your way' an expression meaning 'run from a debate which i have lost'?
    What makes you think anyone won or lost? Other than the American people, I mean. One of us thinks an IOU is something of value. The other of us thinks that the IOU no longer has value. Time will make clear to all which of us is right.

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    Re: The results are in on social security

    Quote Originally Posted by cpwill View Post
    not really. the SS Fund takes a different kind of "security" from the Treasury. as the Office of Management and Budget puts it:

    ...These [Trust Fund] balances are available to finance future benefit payments and other Trust Fund expenditures – but only in a bookkeeping sense.... They do not consist of real economic assets that can be drawn down in the future to fund benefits. Instead, they are claims on the Treasury that, when redeemed, will have to be financed by raising taxes, borrowing from the public, or reducing benefits or other expenditures. The existence of large Trust Fund balances, therefore, does not, by itself, have any impact on the Government’s ability to pay benefits. (from FY 2000 Budget, Analytical Perspectives, p. 337)



    but hey, i mean, that's from the Clinton Administration. bunch of right-wing loons, those guys.



    Here is the sentence from the paragraph that preceded your cherry pick post.


    <Almost all of these balances are invested in Treasury securities and earn interest. Therefore, they effectively represent the value, in current dollars, of taxes and user fees that have been paid in advance for future benefits and services. >


    Here is the sentence from the paragraph that followed your cherry pick post.


    <Instead, they are claims on the Treasury that, when redeemed, will have to be financed by raising taxes, borrowing from the public, or reducing benefits or other expenditures. The existence of large trust fund balances, therefore, does not, by itself, have any impact on the Government’s ability to pay benefits. >


    Here is the link to the PDF(592 pages) I suggest that you read the first part of page 337 and see how Reagan handled a similar problem.


    http://www.gpoaccess.gov/usbudget/fy00/pdf/spec.pdf
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: The results are in on social security

    .... you do realize the two sections you posted reinforce our point, that this "trust fund" is just smoke and mirrors?

    If I can pull out that last sentence in particular: The existence of large trust fund balances, therefore, does not, by itself, have any impact on the Government’s ability to pay benefits.

    The only way the "trust fund" get's "paid back" is if the general budget stops running Trillion dollar deficits and starts running massive surpluses. Do you see that happening any time soon? If so, there are some guys named Barack and John up in Washington right now that will be very interested in hearing what you have to suggest.
    Last edited by cpwill; 07-12-11 at 08:11 AM.

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    Re: The results are in on social security

    Quote Originally Posted by cpwill View Post
    .... you do realize the two sections you posted reinforce our point, that this "trust fund" is just smoke and mirrors?

    If I can pull out that last sentence in particular: The existence of large trust fund balances, therefore, does not, by itself, have any impact on the Government’s ability to pay benefits.

    The only way the "trust fund" get's "paid back" is if the general budget stops running Trillion dollar deficits and starts running massive surpluses. Do you see that happening any time soon? If so, there are some guys named Barack and John up in Washington right now that will be very interested in hearing what you have to suggest.

    We’ll let the readers decide if what you posted was taken out of context or not.

    The post of mine that you were responding to.


    Originally Posted by donc

    Fact one= Social Security has a $2.6-trillion surplus that is projected to grow to more than $4 trillion in 2023.

    Fact two= Social Security invests its surpluses, as it should, in U.S Treasury bonds, the safest interest-bearing securities in the world. The same paper that we sell to China, Japan and other wealthy investors.
    Your post.

    They do not consist of real economic assets that can be drawn down in the future to fund benefits. Instead, they are claims on the Treasury that, when redeemed, will have to be financed by raising taxes, borrowing from the public, or reducing benefits or other expenditures. The existence of large Trust Fund balances, therefore, does not, by itself, have any impact on the Government’s ability to pay benefits.
    Your post with the first sentence added.


    <Almost all of these balances are invested in Treasury securities and earn interest. Therefore, they effectively represent the value, in current dollars, of taxes and user fees that have been paid in advance for future benefits and services.>

    They do not consist of real economic assets that can be drawn down in the future to fund benefits. Instead, they are claims on the Treasury that, when redeemed, will have to be financed by raising taxes, borrowing from the public, or reducing benefits or other expenditures.

    now the following



    <Instead, they are claims on the Treasury that, when redeemed, will have to be financed by raising taxes, borrowing from the public, or reducing benefits or other expenditures. The existence of large trust fund balances, therefore, does not, by itself, have any impact on the Government’s ability to pay benefits. >


    Kinda looks to me like you were being just a teeney bit dishonest with that post.


    So tell me how your post has shown that United States Government issued Treasury bonds are smoke and mirrors.

    While your searching for that one, you might want to answer this question that i ask you in post #261.


    Show me where we don’t have to pay the holders of what Social Security invests its surpluses in? Treasury bonds.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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