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Thread: Social Security To Go Bust By 2030: CBO

  1. #241
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    Re: Social Security To Go Bust By 2030: CBO

    I find it amazing that you guys think America is infallible - we went off the gold standard to begin with b/c we were creating more currency and debt than we had gold reserves.

    You guys do realize that some of the credit ratings agencies had lowered the U.S.'s credit rating, and that Holder threatened to sue them back into line?? The U.S. has spent and printed its way on to quicksand - yet most of you seem to think everything America does is golden (except the currency - that, of course, is paper, ink, and digits in a computer).

    Instead of getting your house in order, you all want hair of the dog - akin to drug addiction. It's mind boggling.

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    Re: Social Security To Go Bust By 2030: CBO

    Don't forget Medicare will be broke also in the near future yet we continue to feed house and give medical care to millions that are illegally. If I were forty years old today I would be very scared of my future financially.
    It's nothing more than X's and O's.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by cpwill View Post
    Because then they would have actual value, rather than being an internal note-keeping scheme.
    Having done this work professionally, all of these assets have a value. Like private placements, like assets traded in thin-markets, like the vast majority of the derivative market, all of these assets can be valued. In the private sector, it is done by comparing the asset to like assets. In the case of the assets of the Trust Fund, they would be compared to the value of publically traded government securities. But your issue isn't really with 'actual value'. Your concern here is ideological. You want to portray the SSTF as an internal note-keeping scheme. Negotiability is irrelevant - at least in the private sector by people who do this professionally.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by rhinefire View Post
    Don't forget Medicare will be broke also in the near future yet we continue to feed house and give medical care to millions that are illegally. If I were forty years old today I would be very scared of my future financially.
    Given these programs serve the elderly... It makes much more sense to say if I were 65 today, I would be very scared of my future period. This is the disconnect with reality. The elderly think that they are somehow immune from the mess that they create as voters.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by JoeTheEconomist View Post
    Given these programs serve the elderly... It makes much more sense to say if I were 65 today, I would be very scared of my future period. This is the disconnect with reality. The elderly think that they are somehow immune from the mess that they create as voters.
    Indeed. Seems that this specific aspect is always given short shrift in the vast majority of the conversations.
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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by wist43 View Post
    I find it amazing that you guys think America is infallible - we went off the gold standard to begin with b/c we were creating more currency and debt than we had gold reserves.

    You guys do realize that some of the credit ratings agencies had lowered the U.S.'s credit rating, and that Holder threatened to sue them back into line?? The U.S. has spent and printed its way on to quicksand - yet most of you seem to think everything America does is golden (except the currency - that, of course, is paper, ink, and digits in a computer).

    Instead of getting your house in order, you all want hair of the dog - akin to drug addiction. It's mind boggling.
    I think whats keeping the US afloat right now is that the Dollar is a reserve currency of the world, that gives the US a huge advantage since we still control the world's banking industry. I dont think that will change for at least another 20 years, beyond that, who knows.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by PoS View Post
    I think whats keeping the US afloat right now is that the Dollar is a reserve currency of the world, that gives the US a huge advantage since we still control the world's banking industry. I dont think that will change for at least another 20 years, beyond that, who knows.
    "We" don't control anything, b/c "we" don't control the dollar - the Federal Reserve controls the dollar; and since the FedRes is a private bank controlled by the international bankers - our fate is in their hands, not ours. That has been the case since the FedRes Act was passed in 1913.

    They don't care about the U.S. anymore than they care about Bolivia - when it suits them, they will switch reserve currencies as it is expedient, just as they took us off the gold standard in 1971 - b/c it was expedient.

    The international bankers are just that, international, i.e. globalist in their thinking. They've been working to destroy national sovereignty around the world for decades, hence their push behind such things as the UN, EU, NAFTA, GATT, IMF, World Bank, ICC, etc.

    Just b/c the people sitting on the Fed board are American, doesn't mean they are Americanists or loyal to America in any way - on the contrary, they are decidedly anti-American in their beliefs.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by wist43 View Post
    I find it amazing that you guys think America is infallible - we went off the gold standard to begin with b/c we were creating more currency and debt than we had gold reserves.

    You guys do realize that some of the credit ratings agencies had lowered the U.S.'s credit rating, and that Holder threatened to sue them back into line?? The U.S. has spent and printed its way on to quicksand - yet most of you seem to think everything America does is golden (except the currency - that, of course, is paper, ink, and digits in a computer).

    Instead of getting your house in order, you all want hair of the dog - akin to drug addiction. It's mind boggling.
    The gold standard is horrible anyway. Only the Rothbard/Mises cult from the Austrian economics school push it.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by RAMOSS View Post
    The gold standard is horrible anyway. Only the Rothbard/Mises cult from the Austrian economics school push it.
    It forces discipline on the government - of course, you Keynesians don't want to be constrained by the value of something, and you don't want to be constrained by the rule of law.

    You've had your way for a few decades now, and all you've managed to do is bankrupt the country, debauch the currency, and expand government power and control over our society to the point where liberty is near dead.

    If you think those things are preferrable to limited government, a valued currency, and liberty - all that can be concluded is that you are completely brainwashed and delusional.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by cpwill View Post
    yes, but you cannot invest in your own debt no matter how "safe" you are.
    Why do you still not understand the difference between the government and a person? It's really not hard.

    yeah, and I try to put money from my checking into my savings every month, too. I don't increase my net worth when I make the shift, I only change the account.
    And, if you have any intelligence at all, the money in the savings account draws interest, right? So by putting more money from your checking to your savings, you earn more interest each month, which DOES increase your overall net worth, at least partly keeping your savings account up with inflation.

    God, you can't even make your own arguments work.

    Yes. And for decades we took the excess FICA collection, and spent it on non SS expenditures.
    So the money wouldn't fall victim to inflation. Seriously, what is so hard to understand about this?

    On the contrary, my link refutes the logic you presented, that Congress has not spent the SS monies, and that therefore SS is not now contributing to the National Debt.
    What the hell are you talking about? I never said Congress didn't spend the money, nor did I say it didn't contribute to the debt. What I said is that it's not harmful debt, as it is simply debt owed to ourselves, debt which we are capable of paying back each month when it comes due.

    Why do you talk when you clearly have no idea what you are talking about? God, it's annoying.

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