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Thread: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a future Am

  1. #61
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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by cpwill View Post
    dude, the theft comes from the people running an annual deficit. you see the guys calling for a balanced budget amendment? they're the ones trying to stop the stealing.



    that they are. Social (in)Security is broke, but can (with my plan) be modified to become an incredible wealth building tool for our poor, eventually making our low-income working families into millionaires.



    nope. much of it went to the unions, and much of the TARP money seems to have gone to foriegn banks (probably German ones). In general it was a giant waste.



    no, government stole from the taxpayers and then gave it to unions and banks.



    well i used to have hopes, but the general reaction of the "i gotta get mine!" types on this forum are depressing me in this regards.



    i would like to see any evidence you have that all of wall street is, in fact, a giant ponzi scheme?

    i mean, Social Security and Medicare are ponzi schemes, and together they add up to a (current) loss of $106.5 Trillion. Wall Street would have to be pretty hefty to match that.


    I find it extremely telling, btw, that your side is unable to discuss the numbers; and is left with hyperbole.
    "Dude" The republicans and tea baggers apparently can sell their constituents on things like President Obama's eligibility to run for President using the tell a lie often enough and it will become a fact but I doubt you are going to sell your Ponzi Wall Street Scheme again this quickly. Wall Street and the American economy were both on the verge of collapse when President Obama took office, your hero ex President Bush instead of taking care of the business of the United States had involved us in two wars going so far as to borrow money from the Chinese to finance his need to be a war president . Within a month of telling the American people that the state of our economy was strong our nations economy was on the edge of collapse. Wall Street and the Bankers were bailed out using tax payer dollars and now you think that people are going to trust Wall Street with their retirement, maybe you can sell that bunk to the birthers they have already showed how gullible they are but the average American will see that scheme for exactly what it is, a chance to pick the pockets of hard working Americans. Wall Street is nothing but a Ponzi Scheme the banks are nothing more then a modern day version of the mafia and you DUDE are just trying to ensure that Wall Street can suck the last drop of blood out of the American tax payer.

    $29 Billion Stimulus Package – Wall Street Bailout
    The Federal Reserve stepped in to prevent the collapse of Bear Stearns (one of the world’s largest investment banks and brokerage firms) by guaranteeing $29 billion worth of potential losses in its battered portfolio. This provided enough economic stimulus for JP Morgan Chase to take over the beleaguered firm.

    $200 Billion Stimulus Package – Fannie Mae and Freddie Mac Bailout
    Fannie Mae and Freddie Mac (privately owned mortgage companies that are backed by the federal government) were about to fail, due to declining house prices and rising foreclosures. The Bush Administration stepped in with a $200 billion economic stimulus package and placed Fannie Mae and Freddie Mac and their $5 trillion in home loans in “temporary conservatorship,” to be supervised by the Federal Housing Finance Agency.

    September – November 2008
    $150 Billion Stimulus Package – AIG Bailout
    With the world’s largest insurance company in dire straits and 74 million clients at risk, the American government chipped in and gave AIG (American Insurance Group) $150 billion in a stimulus package that included: loans, purchase of toxic assets, and purchase of preferred shares.

    October 2008
    $700 Billion Stimulus Package – Banks Bailout
    The Bush Administration, under the umbrella of the U.S. Treasury, committed $700 billion in economic stimulus money under TARP (Troubled Asset Relief Program). By many accounts, if this economic stimulus money hadn’t been injected, credit between banks would have frozen overnight, and not only the American economy, but also the global economy, would have seized up.

    March 2009
    $30 Billion Stimulus Package – AIG Bailout
    The federal government intervened once again to help insurance giant AIG, this time in the form of a $30 billion loan from TARP funds. (See above in the September-November 2008 entry, for more information on other AIG bailouts.)

    March 2009
    $1 Trillion "Toxic Asset" Program – Banks Bailout
    The Obama Administration launched a public-private economic stimulus venture (involving the U.S. Treasury and FDIC) to try to get toxic assets off the balance sheets of banks so that they can return to normal lending practicesMarch 2009.

    Good luck "Dude" not every one is going to be as gullible as the birthers

  2. #62
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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by EarlzP View Post
    "Dude" The republicans and tea baggers apparently can sell their constituents on things like President Obama's eligibility to run for President using the tell a lie often enough and it will become a fact but I doubt you are going to sell your Ponzi Wall Street Scheme again this quickly. Wall Street and the American economy were both on the verge of collapse when President Obama took office, your hero ex President Bush instead of taking care of the business of the United States had involved us in two wars going so far as to borrow money from the Chinese to finance his need to be a war president . Within a month of telling the American people that the state of our economy was strong our nations economy was on the edge of collapse. Wall Street and the Bankers were bailed out using tax payer dollars and now you think that people are going to trust Wall Street with their retirement, maybe you can sell that bunk to the birthers they have already showed how gullible they are but the average American will see that scheme for exactly what it is, a chance to pick the pockets of hard working Americans. Wall Street is nothing but a Ponzi Scheme the banks are nothing more then a modern day version of the mafia and you DUDE are just trying to ensure that Wall Street can suck the last drop of blood out of the American tax payer.

    $29 Billion Stimulus Package – Wall Street Bailout
    The Federal Reserve stepped in to prevent the collapse of Bear Stearns (one of the world’s largest investment banks and brokerage firms) by guaranteeing $29 billion worth of potential losses in its battered portfolio. This provided enough economic stimulus for JP Morgan Chase to take over the beleaguered firm.

    $200 Billion Stimulus Package – Fannie Mae and Freddie Mac Bailout
    Fannie Mae and Freddie Mac (privately owned mortgage companies that are backed by the federal government) were about to fail, due to declining house prices and rising foreclosures. The Bush Administration stepped in with a $200 billion economic stimulus package and placed Fannie Mae and Freddie Mac and their $5 trillion in home loans in “temporary conservatorship,” to be supervised by the Federal Housing Finance Agency.

    September – November 2008
    $150 Billion Stimulus Package – AIG Bailout
    With the world’s largest insurance company in dire straits and 74 million clients at risk, the American government chipped in and gave AIG (American Insurance Group) $150 billion in a stimulus package that included: loans, purchase of toxic assets, and purchase of preferred shares.

    October 2008
    $700 Billion Stimulus Package – Banks Bailout
    The Bush Administration, under the umbrella of the U.S. Treasury, committed $700 billion in economic stimulus money under TARP (Troubled Asset Relief Program). By many accounts, if this economic stimulus money hadn’t been injected, credit between banks would have frozen overnight, and not only the American economy, but also the global economy, would have seized up.

    March 2009
    $30 Billion Stimulus Package – AIG Bailout
    The federal government intervened once again to help insurance giant AIG, this time in the form of a $30 billion loan from TARP funds. (See above in the September-November 2008 entry, for more information on other AIG bailouts.)

    March 2009
    $1 Trillion "Toxic Asset" Program – Banks Bailout
    The Obama Administration launched a public-private economic stimulus venture (involving the U.S. Treasury and FDIC) to try to get toxic assets off the balance sheets of banks so that they can return to normal lending practicesMarch 2009.

    Good luck "Dude" not every one is going to be as gullible as the birthers
    Just noticed this post. Not sure if this was meant to be serious or is some type of joke. Numbers and explanations are flawed, no appanent logic. Not even sure how the last sentence has anything to do with the post above.

    As a democrat I get embarrased reading stuff like this on a political debate site. Perhaps there should be a seperate site for economic discussions, so people who uderstand the economy and numbers can have rational discussion.

    Does anyone here know of such a site?

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by washunut View Post
    Just noticed this post. Not sure if this was meant to be serious or is some type of joke. Numbers and explanations are flawed, no appanent logic. Not even sure how the last sentence has anything to do with the post above.

    As a democrat I get embarrased reading stuff like this on a political debate site. Perhaps there should be a seperate site for economic discussions, so people who uderstand the economy and numbers can have rational discussion.

    Does anyone here know of such a site?
    Apparently you either can not read or choose not to

    Stimulus Package Details | Economic Stimulus Package Timelines | Stimulus Package

    Good luck finding the site you are looking for

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by EarlzP View Post
    Apparently you either can not read or choose not to

    Stimulus Package Details | Economic Stimulus Package Timelines | Stimulus Package

    Good luck finding the site you are looking for
    I did read your post and as I said I find it silly to the point of being insulting.

    For example, there should be no one on a site such as this one who has one bullet for the 700 billion TARP, and then break out on seperate lines AIG which was part of TARP. I would also expect someone to know that a bunch of the money that went to AIG has already been repaid. They should also know that what you call toxic assets, the fed has refused to sell back to AIG what they paid for them because they will sell it on the open market (some to AIG) at a profit.

    If you truely don't know the above I won't waste my time trying to explain the relationship of Fannie and Freddie to the government well before Bush.

    Like I said, I would welcome informed debate, just not at this level.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by washunut View Post
    I did read your post and as I said I find it silly to the point of being insulting.

    For example, there should be no one on a site such as this one who has one bullet for the 700 billion TARP, and then break out on seperate lines AIG which was part of TARP. I would also expect someone to know that a bunch of the money that went to AIG has already been repaid. They should also know that what you call toxic assets, the fed has refused to sell back to AIG what they paid for them because they will sell it on the open market (some to AIG) at a profit.

    If you truely don't know the above I won't waste my time trying to explain the relationship of Fannie and Freddie to the government well before Bush.

    Like I said, I would welcome informed debate, just not at this level.
    Apparently my uninformed debating skills have struck a nerve with you. You must have forgotten that President Bush was in office when the wheels came off and now you are trying to pass the buck off to the President's prior to and after his Presidency. Facts seem to escape you in your effort to support a President "Bush" who either lied about the state of the economy in 2008 or was too busy waging war to know what was going on.

    When I am charge the buck stops at my feet I take responsibility for my actions as well as my inactions. The fact is that President Bush had been in office for over 7 years before our economy tanked, the fact is he has/had access to financial advisors and the fact is the economy tanked on his watch, the facts are that Wall Street was in the tank, the facts are that the money involved ended up in some ones pocket and the facts are I did not see the rich jumping out of tenth floor windows, the facts are that the gap between the rich and the poor continued to and continues to widen.

    Go ahead now and debate any thing I have typed above or try to lay the responsibility off on anyone before or after President Bush

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by EarlzP View Post
    Apparently my uninformed debating skills have struck a nerve with you. You must have forgotten that President Bush was in office when the wheels came off and now you are trying to pass the buck off to the President's prior to and after his Presidency. Facts seem to escape you in your effort to support a President "Bush" who either lied about the state of the economy in 2008 or was too busy waging war to know what was going on.

    When I am charge the buck stops at my feet I take responsibility for my actions as well as my inactions. The fact is that President Bush had been in office for over 7 years before our economy tanked, the fact is he has/had access to financial advisors and the fact is the economy tanked on his watch, the facts are that Wall Street was in the tank, the facts are that the money involved ended up in some ones pocket and the facts are I did not see the rich jumping out of tenth floor windows, the facts are that the gap between the rich and the poor continued to and continues to widen.

    Go ahead now and debate any thing I have typed above or try to lay the responsibility off on anyone before or after President Bush
    I could care less about Bush, never voted for him and think most of what he did was lousy. That does not excuse the kind of mistakes in your analysis. Debate on facts not emotion.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by washunut View Post
    I could care less about Bush, never voted for him and think most of what he did was lousy. That does not excuse the kind of mistakes in your analysis. Debate on facts not emotion.
    You have yet to present a fact nor have you addressed one fact that I have presented, so let me give you another fact, you and I and every other American of legal voting age are responsible for the economic mess "OUR" country is in WE are the government, We are responsible for the economic mess now confronting OUR country, WE elect those that represent our wishes and protect OUR country.

    OUR country America is still in trouble and without drastic measures will continue to decay until there are only two classes left the ultra rich and the poor. As I said I am not oin favor of setting up a private retirement plan using Wall Street to administer it. the changes in SS will not effect me I am retired drawing two pensions, My only child is a doctor and doing fine. So my concern is for the poor of OUR country who only have enough to on and their share of the American dream is becoming increasingly smaller.

    Now try to put your emotions away and debate the facts that I have provided for you

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by EarlzP View Post
    You have yet to present a fact nor have you addressed one fact that I have presented, so let me give you another fact, you and I and every other American of legal voting age are responsible for the economic mess "OUR" country is in WE are the government, We are responsible for the economic mess now confronting OUR country, WE elect those that represent our wishes and protect OUR country.

    OUR country America is still in trouble and without drastic measures will continue to decay until there are only two classes left the ultra rich and the poor. As I said I am not oin favor of setting up a private retirement plan using Wall Street to administer it. the changes in SS will not effect me I am retired drawing two pensions, My only child is a doctor and doing fine. So my concern is for the poor of OUR country who only have enough to on and their share of the American dream is becoming increasingly smaller.

    Now try to put your emotions away and debate the facts that I have provided for you
    I to am retired and do not need social security for my basic needs. It will probably pay for my lost golf balls when I am elegible to start collecting.

    That being said, the government has done a lousy job of investing our social security funds. While I agree that most people should not have private accounts, the government should not have a monopoly and put our money into treasuries which they may or may not ever pay on.

    I would like to see the trust fund handled the way major university endowments are handled. Their long term track record on investment returns is materially better than simply putting money into treasuries. Then however it gets accounted for either as a statement for each individual based upon contributions or as a pot as we do now I am not sure which I like better.Clearly on a selfish basis it would have been better for someone like me who paid the max just about every year I paid into the system getting an individual statement would get me a higher payout.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by washunut View Post
    I to am retired and do not need social security for my basic needs. It will probably pay for my lost golf balls when I am elegible to start collecting.

    That being said, the government has done a lousy job of investing our social security funds. While I agree that most people should not have private accounts, the government should not have a monopoly and put our money into treasuries which they may or may not ever pay on.

    I would like to see the trust fund handled the way major university endowments are handled. Their long term track record on investment returns is materially better than simply putting money into treasuries. Then however it gets accounted for either as a statement for each individual based upon contributions or as a pot as we do now I am not sure which I like better.Clearly on a selfish basis it would have been better for someone like me who paid the max just about every year I paid into the system getting an individual statement would get me a higher payout.

    I am retired and also do not require SS for my basic needs, however, I do recognize that there are far more people that do need it to survive than do not.
    The govt has robbed the social security fund forget about it poorly investing it. Social Security needs fixing and so does medicare but giving a 25% income tax cut to the richest americans and corporations does nothing to achieve that.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by lpast View Post
    I am retired and also do not require SS for my basic needs, however, I do recognize that there are far more people that do need it to survive than do not.
    The govt has robbed the social security fund forget about it poorly investing it. Social Security needs fixing and so does medicare but giving a 25% income tax cut to the richest americans and corporations does nothing to achieve that.
    When did anyone give the "richest" americans a 25% tax cut? When did corporations get a tax cut. Please respond ASAP.I am filling out by tax return but it must have th tax brackets wrong on my form.

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