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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 Catawba View Post
    The surplus is guaranteed by the full faith and credit of the US. It helped finance the GOP war in Iraq.
    Yeah, along with Santa Claus and the Easter Bunny.

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    Re: The results are in on social security

    Quote Originally Posted by Catawba View Post
    The surplus is guaranteed by the full faith and credit of the US.
    the full faith and credit of the United States is not what backs those notes - all that backs them is a promise from Congress to make good on them.

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    Re: The results are in on social security

    Quote Originally Posted by cpwill View Post
    the full faith and credit of the United States is not what backs those notes - all that backs them is a promise from Congress to make good on them.
    Thanks for your opinion internet guy:

    "Far from being "worthless IOUs," the investments held by the trust funds are backed by the full faith and credit of the U. S. Government. The government has always repaid Social Security, with interest. The special-issue securities are, therefore, just as safe as U.S. Savings Bonds or other financial instruments of the Federal government."
    Trust Fund FAQs
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    Re: The results are in on social security

    Quote Originally Posted by Catawba View Post
    Thanks for your opinion internet guy:

    "Far from being "worthless IOUs," the investments held by the trust funds are backed by the full faith and credit of the U. S. Government. The government has always repaid Social Security, with interest. The special-issue securities are, therefore, just as safe as U.S. Savings Bonds or other financial instruments of the Federal government."
    Trust Fund FAQs
    Can you imagine buying T-Bills and at maturity being told they are worthless IOU's?


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    Re: The results are in on social security

    To help clear up the misconceptions by many regarding Social Security ~

    Top 5 Social Security Myths -

    Myth: Social Security is going broke.
    Reality: There is no Social Security crisis. By 2023, Social Security will have a $4.3 trillion surplus (yes, trillion with a ‘T’). It can pay out all scheduled benefits for the next quarter-century with no changes whatsoever.1 After 2037, it’ll still be able to pay out 75% of scheduled benefits–and again, that’s without any changes. The program started preparing for the Baby Boomers retirement decades ago.2 Anyone who insists Social Security is broke probably wants to break it themselves.

    Myth: We have to raise the retirement age because people are living longer.
    Reality: This is a red-herring to trick you into agreeing to benefit cuts. Retirees are living about the same amount of time as they were in the 1930s. The reason average life expectancy is higher is mostly because many fewer people die as children than did 70 years ago.3 What’s more, what gains there have been are distributed very unevenly–since 1972, life expectancy increased by 6.5 years for workers in the top half of the income brackets, but by less than 2 years for those in the bottom half.4 But those intent on cutting Social Security love this argument because raising the retirement age is the same as an across-the-board benefit cut.

    Myth: Benefit cuts are the only way to fix Social Security.
    Reality: Social Security doesn’t need to be fixed. But if we want to strengthen it, here’s a better way: Make the rich pay their fair share. If the very rich paid taxes on all of their income, Social Security would be sustainable for decades to come.5 Right now, high earners only pay Social Security taxes on the first $106,000 of their income.6 But conservatives insist benefit cuts are the only way because they want to protect the super-rich from paying their fair share.

    Myth: The Social Security Trust Fund has been raided and is full of IOUs
    Reality: Not even close to true. The Social Security Trust Fund isn’t full of IOUs, it’s full of U.S. Treasury Bonds. And those bonds are backed by the full faith and credit of the United States.7 The reason Social Security holds only treasury bonds is the same reason many Americans do: The federal government has never missed a single interest payment on its debts. President Bush wanted to put Social Security funds in the stock market–which would have been disastrous–but luckily, he failed. So the trillions of dollars in the Social Security Trust Fund, which are separate from the regular budget, are as safe as can be.

    Myth: Social Security adds to the deficit
    Reality: It’s not just wrong — it’s impossible! By law, Social Security funds are separate from the budget, and it must pay its own way. That means that Social Security can’t add one penny to the deficit"

    Social Security Under Attack Again | Veterans Today
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    Re: The results are in on social security

    Nothing would destroy the faith of the American people in their government more than a reneging on the Social Security promises made to them while they worked their entire adult lives.

    Now, don't you think the Cato Institute knows that?

    Don't you think the Club for Growth knows that?

    Don't you think ALEC knows that?

    Don't you think Ron Paul and Rand Paul know that?

    Don't you think every right leaning libertarian think tank and pundit knows that?

    So if you despise government, no greater weapon is available to you than to do everything you can to undermine Social Security.
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    Re: The results are in on social security

    Quote Originally Posted by haymarket View Post
    Nothing would destroy the faith of the American people in their government more than a reneging on the Social Security promises made to them while they worked their entire adult lives.

    Now, don't you think the Cato Institute knows that?

    Don't you think the Club for Growth knows that?

    Don't you think ALEC knows that?

    Don't you think Ron Paul and Rand Paul know that?

    Don't you think every right leaning libertarian think tank and pundit knows that?

    So if you despise government, no greater weapon is available to you than to do everything you can to undermine Social Security.
    Yeah, if you despise government. I think only the anarchists despise government.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    Re: The results are in on social security

    so. how is the general fund going to come up with those huge surpluses?

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    Re: The results are in on social security

    Quote Originally Posted by cpwill View Post
    so. how is the general fund going to come up with those huge surpluses?
    Increase taxes and cut spending on general programs
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    Re: The results are in on social security

    Quote Originally Posted by Lord Tammerlain View Post
    Increase taxes and cut spending on general programs
    right. and then because that won't get you enough (literally, it won't get you enough), what do you do after that?


    there is only one way that we could fully fund Social Security. We would have to virtually get rid of Medicare. that's the only pile of costs big enough to cover that gap. have a good time choosing, boomers! I suspect you will F*$& this up the same way you have F*$&'d up everything else you have touched .

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