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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 washunut View Post
    The talk about taking social security funds to maintain tax cuts for the rich. Social security was dropped into the "unified" budget decades ago. Now I do consider it a theft, but the reason in my view was to sugarcoat deficits, not for any specific tax cut.
    Yes, it has been going on for years. That doesn't justify continuing to rob from it. In 2000, voters had the chance to choose between a presidential candidate that proposed locking the SS fund from general fund use. The voters instead chose the guy they would rather have a beer with. The rest, as they say is history:

    "Looted from the Inside Out

    Whatever Happened to the Social Security Trust Fund?


    "Your president, in his first State of the Union address (February 27, 2001), promised to make sure that no Social Security money was used for any other program. He specifically said: "To make sure the retirement savings of America's seniors are not diverted in any other program, my budget protects all $2.6 trillion of the Social Security surplus for Social Security, and for Social Security alone."

    Now that is what he said: "for Social Security alone." But it seems like your president left something out.

    And with that said and done, it seems like the same Bush went on to do something entirely different. No surprise there.

    What Bush did in his first fours years was he looted the sacred Social Security trust fund. Down to the last nickel and dime.

    In the Bush-Cheney first term the White House mob gleefully looted the entire $509 billion Social Security surplus. No surprise there again. And, at this very moment, Bush has his fingers in the same trust fund to the tune of $400 million or so a day.

    But you can look at it this way. It is for a good cause.

    Somebody has to pay for those tax cuts and the war in Iraq.

    And the Social Security trust fund does come in handy in these cases. Furthermore, and to rub it in, the shameless Bush now admits it. This is what he has been saying lately in his Social Security scare speeches. "The money-payroll taxes going into Social Security are spent. They're spent on benefits and they're spent on government programs. There is no trust."

    Now that's what he says. "There is no trust."

    "Every dime that goes in from payroll taxes is spent. It's spent on retirees, and if there's excess, it's spent on government programs. The only thing that Social Security has is a pile of IOUs from one part of the government to the next."

    Those words were spoken just a few days ago. Where's the outrage? Where's Alan Greenspan on this subject.

    In other words - why isn't anybody asking what happened to the trust fund that Bush said he would protect way back in 2001?"
    Jackie Corr: Whatever Happened to the Social Security Trust Fund?
    Last edited by Catawba; 06-03-11 at 02:13 AM.
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  2. #42
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    Re: The results are in on social security

    Quote Originally Posted by Catawba View Post
    Yes, it has been going on for years. That doesn't justify continuing to rob from it. In 2000, voters had the chance to choose between a presidential candidate that proposed locking the SS fund from general fund use. The voters instead chose the guy they would rather have a beer with. The rest, as they say is history:

    "Looted from the Inside Out

    Whatever Happened to the Social Security Trust Fund?


    "Your president, in his first State of the Union address (February 27, 2001), promised to make sure that no Social Security money was used for any other program. He specifically said: "To make sure the retirement savings of America's seniors are not diverted in any other program, my budget protects all $2.6 trillion of the Social Security surplus for Social Security, and for Social Security alone."

    Now that is what he said: "for Social Security alone." But it seems like your president left something out.

    And with that said and done, it seems like the same Bush went on to do something entirely different. No surprise there.

    What Bush did in his first fours years was he looted the sacred Social Security trust fund. Down to the last nickel and dime.

    In the Bush-Cheney first term the White House mob gleefully looted the entire $509 billion Social Security surplus. No surprise there again. And, at this very moment, Bush has his fingers in the same trust fund to the tune of $400 million or so a day.

    But you can look at it this way. It is for a good cause.

    Somebody has to pay for those tax cuts and the war in Iraq.

    And the Social Security trust fund does come in handy in these cases. Furthermore, and to rub it in, the shameless Bush now admits it. This is what he has been saying lately in his Social Security scare speeches. "The money-payroll taxes going into Social Security are spent. They're spent on benefits and they're spent on government programs. There is no trust."

    Now that's what he says. "There is no trust."

    "Every dime that goes in from payroll taxes is spent. It's spent on retirees, and if there's excess, it's spent on government programs. The only thing that Social Security has is a pile of IOUs from one part of the government to the next."

    Those words were spoken just a few days ago. Where's the outrage? Where's Alan Greenspan on this subject.

    In other words - why isn't anybody asking what happened to the trust fund that Bush said he would protect way back in 2001?"
    Jackie Corr: Whatever Happened to the Social Security Trust Fund?
    First of all calling Bush my president is nuts. Although he was the president of all Americans for 8 years, he NEVER got my vote. So come out of your fog.

    That being said, there is a social security trust fund that has treasuries, not sure if you really don't know this or are acting like someone who does not know.

    Sorry but you don't get to have your own facts.

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    Re: The results are in on social security

    Quote Originally Posted by washunut View Post
    First of all calling Bush my president is nuts. Although he was the president of all Americans for 8 years, he NEVER got my vote. So come out of your fog.

    That being said, there is a social security trust fund that has treasuries, not sure if you really don't know this or are acting like someone who does not know.

    Sorry but you don't get to have your own facts.
    I didn't say your president. When quotes are provided in text followed by a link that means the text is quoted from that source. Hope that helps in the future!

    If you have evidence that refutes SS funds were used to help offset the cost of the Iraq war and the Bush tax cuts, as Bush's own quotes show, please present it.
    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: The results are in on social security

    Quote Originally Posted by donc View Post
    There are no assets?

    U. S. Government securities are not assets??The last time I checked they still had a 5 star rating by Morningstar.Of course that could change pretty fast if the tea baggars don’t lift the debt ceiling.
    An IOU is not an asset. If you promise to pay yourself at some future date and you do not have a real asset you can convert into that payment what do you have? Nothing. That is what the government did. It wrested money from taxpayers for one purpose, used it on something else and wrote itself a promise to pay itself. Now if the US government decided to sell of most of its real estate holdings and converted that to cash we might have a real solution.

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    Re: The results are in on social security

    Quote Originally Posted by donc View Post
    Kinda looks like all the doom and gloom was for naught as for as Social Security was concerned.

    THE RESULTS ARE IN ON SOCIAL SECURITY

    Do you ever worry that Social Security might not be there for you when you need it? On May 13, the Trustees of the Social Security Trust Fund released their annual report that affirmatively answers that question: yes, Social Security is alive and well. Below you will find some highlights from the Trustee’s report and important facts about Social Security:

    Amount of annual surplus in 2011: $69 billion

    Projected Trust Fund Balance for 2011: $2.7 trillion

    Number of years Social Security is projected to be able to pay full benefits, without any shortfall: 25 years

    Cost of administering Social Security as percentage of total expenditures: 0.9%

    Average monthly Social Security benefit received by retired Americans: $1,164

    Drop in value of private retirement accounts during the Great Recession: $2.8 trillion

    Drop in value of Social Security benefits during the Great Recession: $0

    Number of recessions Social Security has weathered without failing to pay benefits: 13

    Number of times Social Security has failed to pay an earned benefit: 0

    In response to the Trustee’s report Rep. Becerra, the highest ranking Democrat on the Ways and Means Subcommittee on Social Security, said: “Today’s report confirms what we already know: Social Security will weather the storm once again. You simply can’t buy the kind of retirement, disability and life-insurance protection on the private market that Social Security provides.”

    The Becerra Bulletin, May 2011
    Number of times they raised the payroll deduction rate = ?
    Number of times they raised the age of retirement = ?
    Number of times they adjusted benefits = ?

    Answer these questions. Government never has to take a loss because they simply raise taxes. You ****ing report is bogus.
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    Re: The results are in on social security

    How did I know the doom and gloom We dont want to pay any taxs club would dispute it in its entirety...lol...well the good news is everyone I speak to in florida believes the teaparty whining has gone to far.

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    Re: The results are in on social security

    Quote Originally Posted by Catawba View Post
    I didn't say your president. When quotes are provided in text followed by a link that means the text is quoted from that source. Hope that helps in the future!

    If you have evidence that refutes SS funds were used to help offset the cost of the Iraq war and the Bush tax cuts, as Bush's own quotes show, please present it.
    The money still being in the trust fund does not count as as a fact??

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    Re: The results are in on social security

    Quote Originally Posted by Catawba View Post
    Yes, it has been going on for years. That doesn't justify continuing to rob from it. In 2000, voters had the chance to choose between a presidential candidate that proposed locking the SS fund from general fund use. The voters instead chose the guy they would rather have a beer with. The rest, as they say is history:

    "Looted from the Inside Out

    Whatever Happened to the Social Security Trust Fund?


    "Your president, in his first State of the Union address (February 27, 2001), promised to make sure that no Social Security money was used for any other program. He specifically said: "To make sure the retirement savings of America's seniors are not diverted in any other program, my budget protects all $2.6 trillion of the Social Security surplus for Social Security, and for Social Security alone."

    Now that is what he said: "for Social Security alone." But it seems like your president left something out.

    And with that said and done, it seems like the same Bush went on to do something entirely different. No surprise there.

    What Bush did in his first fours years was he looted the sacred Social Security trust fund. Down to the last nickel and dime.

    In the Bush-Cheney first term the White House mob gleefully looted the entire $509 billion Social Security surplus. No surprise there again. And, at this very moment, Bush has his fingers in the same trust fund to the tune of $400 million or so a day.

    But you can look at it this way. It is for a good cause.

    Somebody has to pay for those tax cuts and the war in Iraq.

    And the Social Security trust fund does come in handy in these cases. Furthermore, and to rub it in, the shameless Bush now admits it. This is what he has been saying lately in his Social Security scare speeches. "The money-payroll taxes going into Social Security are spent. They're spent on benefits and they're spent on government programs. There is no trust."

    Now that's what he says. "There is no trust."

    "Every dime that goes in from payroll taxes is spent. It's spent on retirees, and if there's excess, it's spent on government programs. The only thing that Social Security has is a pile of IOUs from one part of the government to the next."

    Those words were spoken just a few days ago. Where's the outrage? Where's Alan Greenspan on this subject.

    In other words - why isn't anybody asking what happened to the trust fund that Bush said he would protect way back in 2001?"
    Jackie Corr: Whatever Happened to the Social Security Trust Fund?
    So... your 'proof' that Bush looted SS to pay for Iraq... is the word of one guy? Typical.

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    Re: The results are in on social security

    Quote Originally Posted by zimmer View Post
    No. I wouldn't panic and jump off a cliff either. Let's keep our heads and not panic. I think that would be best.
    Last edited by Boo Radley; 06-03-11 at 11:43 AM.

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    Re: The results are in on social security

    Quote Originally Posted by washunut View Post
    The talk about taking social security funds to maintain tax cuts for the rich. Social security was dropped into the "unified" budget decades ago. Now I do consider it a theft, but the reason in my view was to sugarcoat deficits, not for any specific tax cut.
    Perhaps you have heard something that i haven't then.This is from the Social Security FAQ.


    <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.>

    The last I heard U.S. Savings Bonds are pretty secure which "special issue" securities are comparable to.


    Trust Fund FAQs
    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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