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Thread: CBO predicts Social Security cash deficits in 2010-11

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    Re: CBO predicts Social Security cash deficits in 2010-11

    Quote Originally Posted by jackalope View Post
    You have quoted an excerpt on the CATO institutes Social Security Privatization case page, and a Republican CBO director who was also a special assistant to Reagan, who earlier in the testimony you quoted stated:

    :
    Par for the course.

    Here is his defense of torture using a cut-n-paste of an unspecified DOJ memo.

    http://www.debatepolitics.com/genera...post1058232014

    Of couse he didn't of expect me to know this was the infamous Bybee memo.

    Just read what became of the Bybee memo and it's authors.

    [ame=http://en.wikipedia.org/wiki/Bybee_Memo]Bybee Memo - Wikipedia, the free encyclopedia[/ame]



    ********************


    Read this whole thread again Jackalope.

    Notice who we have a person that pretty much has walked away from everything he was hinting at, and implying about? He wanted this fearmongering about Social Security to hang out there until facts just overwhelmed him.

    I've never seen anything like it.
    Last edited by dragondad; 09-24-09 at 12:44 PM.

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    Re: CBO predicts Social Security cash deficits in 2010-11

    Quote Originally Posted by dragondad View Post
    Read this whole thread again Jackalope.

    Notice who we have a person that pretty much has walked away from everything he was hinting at, and implying about? He wanted this fearmongering about Social Security to hang out there until facts just overwhelmed him.

    I've never seen anything like it.
    No, Right has laid out everything for you and has even do so multiple times but your serious reading comprehension deficiency and absolute partisan attitude have kept you from understanding the problem.

    But go ahead and keep thank whoring each other for your lack of reading skills.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: CBO predicts Social Security cash deficits in 2010-11

    Quote Originally Posted by Harry Guerrilla View Post
    No, Right has laid out everything for you and has even do so multiple times but your serious reading comprehension deficiency and absolute partisan attitude have kept you from understanding the problem.

    But go ahead and keep thank whoring each other for your lack of reading skills.

    The only 'problem' that Right has laid out the case for is there's a big, giant, pile of money that he wants to confiscate to use to paof deficits piled on by irresponsible Republican past policies.

    We understand quite clearly he's jonesing for that trust fund. Why not, using the fruits of perhaps the most highly regressive federal tax out there, to pay for handing out money hand over fist to the wealthiest strata of our society would be the perfect epitaph to the middle class gutting that commenced under Reaganomics.

    And, Right's problem is not our lack of reading comprehension, but rather actually comprehending the fraudulence of his 'arguments'.
    Last edited by jackalope; 09-24-09 at 02:26 PM.

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    Re: CBO predicts Social Security cash deficits in 2010-11

    Quote Originally Posted by jackalope View Post
    The only 'problem' that Right has laid out the case for is there's a big, giant, pile of money that he wants to confiscate to use to paof deficits piled on by irresponsible Republican past policies.

    We understand quite clearly he's jonesing for that trust fund. Why not, using the fruits of perhaps the most highly regressive federal tax out there, to pay for handing out money hand over fist to the wealthiest strata of our society would be the perfect epitaph to the middle class gutting that commenced under Reaganomics.
    There is no pile of money anywhere.
    T-bills and bonds are not piles of money, they are promissory notes.

    Check this out, I'm going to make a virtual promissory note:

    I promise to pay the bearer of this virtual note $10.

    That's essentially what the government has created for itself.
    It promises to pay itself back money that it has borrowed from itself.

    Can you not see the problem with this type of accounting?
    If not then I hear Enron is looking for some help.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: CBO predicts Social Security cash deficits in 2010-11

    Quote Originally Posted by Harry Guerrilla View Post
    There is no pile of money anywhere.
    T-bills and bonds are not piles of money, they are promissory notes.

    Check this out, I'm going to make a virtual promissory note:

    I promise to pay the bearer of this virtual note $10.

    That's essentially what the government has created for itself.
    It promises to pay itself back money that it has borrowed from itself.

    Can you not see the problem with this type of accounting?
    If not then I hear Enron is looking for some help.

    You made nothing, and display a lack of basic legal understanding.

    You applaud Right's contradictory arguments that the SSTF is meaningless IOU's, which will nonetheless be repaid?

    It's utterly ridiculous.

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    Re: CBO predicts Social Security cash deficits in 2010-11

    Quote Originally Posted by jackalope View Post
    You made nothing, and display a lack of basic legal understanding.

    You applaud Right's contradictory arguments that the SSTF is meaningless IOU's, which will nonetheless be repaid?

    It's utterly ridiculous.
    He isn't making contradictory arguments.

    -He is saying that Congress authorized the use of the SSTF as general revenue and replaced those funds with promissory notes.

    -Those promissory notes are only representations of debt.

    -The terms of those promissory notes can be changed at any time, for any reason by the Congress.

    So there is no trust fund of cash, only a fund of promissory notes.
    The terms of which can be altered at any time by Congress.
    Which is effect creates a trust fund of IOU's.

    Please don't question my understanding of legal principles and doctrine.
    I've studied this extensively both on a collegiate level and on my own time.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: CBO predicts Social Security cash deficits in 2010-11

    Quote Originally Posted by Harry Guerrilla View Post
    He isn't making contradictory arguments.

    -He is saying that Congress authorized the use of the SSTF as general revenue and replaced those funds with promissory notes.

    -Those promissory notes are only representations of debt.

    -The terms of those promissory notes can be changed at any time, for any reason by the Congress.

    So there is no trust fund of cash, only a fund of promissory notes.
    The terms of which can be altered at any time by Congress.
    Which is effect creates a trust fund of IOU's.

    Please don't question my understanding of legal principles and doctrine.
    I've studied this extensively both on a collegiate level and on my own time.


    So, which is it, these pieces of paper are meaningless IOUs, or these pieces of paper will be repaid? Which one of Right's arguments are you siding with?

    And, I see you now include the option that Congress will vote to default on these bonds. The terms of the 'promissory notes' cannot be changed by the Congress at any time, for any reason. They can default, pay them back, refinance them with new issuance. They do not have the option to change the terms at any time for any reason - that would fall under 'default'. Which is not gonna happen.

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    Re: CBO predicts Social Security cash deficits in 2010-11

    Quote Originally Posted by Harry Guerrilla View Post
    There is no pile of money anywhere.
    T-bills and bonds are not piles of money, they are promissory notes.

    Check this out, I'm going to make a virtual promissory note:

    I promise to pay the bearer of this virtual note $10.

    That's essentially what the government has created for itself.
    It promises to pay itself back money that it has borrowed from itself.

    Can you not see the problem with this type of accounting?
    If not then I hear Enron is looking for some help.
    I'd like to end this debate with this oh so typical argument from the serious, informed "fiscal Conservative" side.

    It sums up their claims nicely.

  9. #69
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    Re: CBO predicts Social Security cash deficits in 2010-11

    Quote Originally Posted by dragondad View Post
    I'd like to end this debate with this oh so typical argument from the serious, informed "fiscal Conservative" side.

    It sums up their claims nicely.
    It does doesn't it.
    You can't read or refuse to acknowledge what has been written in favor of personal attacks.

    Refute me or concede that you are wrong and move on.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: CBO predicts Social Security cash deficits in 2010-11

    Quote Originally Posted by jackalope View Post
    So, which is it, these pieces of paper are meaningless IOUs, or these pieces of paper will be repaid? Which one of Right's arguments are you siding with?

    And, I see you now include the option that Congress will vote to default on these bonds. The terms of the 'promissory notes' cannot be changed by the Congress at any time, for any reason. They can default, pay them back, refinance them with new issuance. They do not have the option to change the terms at any time for any reason - that would fall under 'default'. Which is not gonna happen.
    Who knows, it is at the discretion of Congress to decide.
    They may decide to fulfill them full or they may decide to only pay cents on the dollar.

    They can change the terms at any time, they make the laws including any changes to contractual laws.
    If I'm not mistaken the supreme court has ruled that you do not own SS benefits.

    I'll have to find it.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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