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r3020
Senior Advisor

Extremist and hockey sticks.

 

 

 

But who's the real extremist here? The one who recognizes that $10 trillion-plus in expected deficits over the next 10 years is a serious problem? Or those who insist there's no budget problem so bad that more spending and a massive tax hike on all Americans can't fix it?

 

Truth is, our long-term fiscal problem is so severe that, absent immediate corrective action, our country's political and economic future is imperiled.

 

By the Social Security and Medicare Trustees' own estimates, we are running headlong into a fiscal tsunami. All told, the government's entitlement accountants say, we have roughly $107 trillion in unfunded liabilities — $340,836 and change for every American alive today.

 

Even if you're generous and reduce that by the amount of assets the government has, the future red ink at the end of the 2010 fiscal year was still about $57 trillion — $7 trillion for federal pensions, $17 trillion for Social Security, $22 trillion for Medicare, and about $11 trillion or so in debt. That's $481,000 for every U.S. household.

For Democrats to refuse to cut spending in the face of such numbers is the definition of "extremist."

 

http://www.investors.com/NewsAndAnalysis/Article/568095/201104041857/Editorial-4-trillion-in-cuts-is...

75 Replies
BA Deere
Honored Advisor

Re: Extremist and hockey sticks.

This is very very true 3020, it`s time we all admit that Social Security is a failed ponzi scheme that has run it`s course.  It`s a welfare program in all honesty, a welfare program that sends a check to millionaire snowbirds to use to fuel up their RV on the way down to the "Valley".  There are some legitimate needy individuals that actually could use a increase in their check, but they are in the minority. There are those who say "It`s my money damned it! I paid in! It`s NOT welfare!".   Oh really? well if it`s really your money, why is it that when you pass away your heirs can`t continue to collect your "share"?    Also, why do some collect way more than what they paid it after 8 or 10 years?   It`s welfare, the only way it`s went on this long is us mandatory suckers have been enticed into paying, something those under 50 won`t see. 

schnurrbart
Veteran Advisor

Re: Extremist and hockey sticks.

Former Treasury Secretary Paul O'Neill was told "deficits don't matter" when he warned of a looming fiscal crisis.

 

O'Neill, fired in a shakeup of Bush's economic team in December 2002, raised objections to a new round of tax cuts and said the president balked at his more aggressive plan to combat corporate crime after a string of accounting scandals because of opposition from "the corporate crowd," a key constituency.

O'Neill said he tried to warn Vice President **bleep** Cheney that growing budget deficits-expected to top $500 billion this fiscal year alone-posed a threat to the economy. Cheney cut him off. "You know, Paul, Reagan proved deficits don't matter," he said, according to excerpts. Cheney continued: "We won the midterms (congressional elections). This is our due." A month later, Cheney told the Treasury secretary he was fired.

kraft-t
Senior Advisor

Re:What is ironic.

Is that you are working so hard to kill SS and you just may succeed in reducing benefits. The down side is you will still be paying SS taxes as no one is planning to cut those.

 

You may well make your nightmare come true. You will pay the taxes and not recieve the benefit. It's just too funny!

 

PS... social security is social insurance that pays you a benefit should you reach retirement age. The payments are continued as long as you are alive and no longer. If you're not yet 50, many folks paid in for longer than you have been alive. You're just not made of the same stuff as your elders. You only see from your own perspective. Don't you think the young folks of yester year thought that SS checks were an eternity away?

 

SS will be there when you retire if you want it to be but not if you listen to your winger friends and try to kill it.

Milligan Hay - Iowa d:^)
Veteran Advisor

Re: Re:What is ironic.


@kraft-t wrote:

Is that you are working so hard to kill SS and you just may succeed in reducing benefits. The down side is you will still be paying SS taxes as no one is planning to cut those.

 

You may well make your nightmare come true. You will pay the taxes and not [receive] the benefit. It's just too funny!

 

PS... social security is social insurance that pays you a benefit should you reach retirement age. The payments are continued as long as you are alive and no longer. If you're not yet 50, many folks paid in for longer than you have been alive. You're just not made of the same stuff as your elders. You only see from your own perspective. Don't you think the young folks of yester year thought that SS checks were an eternity away?

 

SS will be there when you retire if you want it to be but not if you listen to your winger friends and try to kill it.


It is a ponzi scheme that has now run out of other people's money.  The dems have "aborted"[i.e. killed] off the next generation of suckers paying into this scheme.... 50+ million kids that were snuffed out, so now they can't pay for your retirement.

 

Oh, and by the way, there are LOTS of ways to avoid having to pay [being forced to] into the ponzi scheme.  I have always known that there was no money going to be left in the ponzi pot by the time I got old enough to qualify.

 

I am hording away what I know what I have and preparing to be able to take care of myself.  The dummies can keep pissing away their earnings into some smoke and mirrors gag.... not me.

GreaTOne_65
Senior Contributor

Re: Re:What is ironic.

I am hording away what I know what I have and preparing to be able to take care of myself. 

Is that the same money you shistered your good paying customers out of with your S*ITY hay scheme?

Honesty and intregrity, a Republicans worst nightmare.

BA Deere
Honored Advisor

Where I`m coming from, Don

I don`t count on collecting any SS, I honestly do look at it as a welfare program.  I don`t have a problem with 15% of my income going to the needy, the Good Book says to give 10% but 15% is okay we`ve all been very Blessed.  Right now someone owning 500 acres, getting $150,000/yr rent, worth over $5 million is still getting SS checks amounting to $18,000/yr!!  Warran Buffet is worth $70 billion and gets a monthly SS check of $1900/month!!  After those two facts poor 70 yr, widow Thelma who worked all her life waiteressing for tips only gets $500/month! because she never could afford to pay in much.  That`s wrong wrong wrong  Thelma is the one of the 3 examples that deserves the $1900/m, yet here it goes to a billionaire!!   If this isn`t enough insanity, you Dems wanted an inheritance tax of 55% above $1 million. Now the above mentioned farmer worth $5 million would pass away with those confiscatory rates his niece and nephew would have to write a check to Uncle Sam for $2 million, 200 thousand!! ($4 millionX55%=$2,200,000) For goodness sake to buy off support for social security, a check is sent to everyone even millionaires and billionaires, that is breaking the system.  Who`s the loser?  Thelma, she`s been getting a modest check and thanks to rich folks dipping in the till, the system will go broke and folks like Thelma will starve. 

kraft-t
Senior Advisor

Re: Re:What is ironic.

Your just too " brilliant" for your own good. If you had any concern for anybody other than yourself, you could see the value in it.

kraft-t
Senior Advisor

Re: Where I`m coming from, Don

there are so many errors and exaggerations in your post, I will not address them. Think what you want.

GoredHusker
Senior Contributor

Re: Where I`m coming from, Don

I think I'm going to have to agree with the liberal lefties here.  SS is not a welfare program.  Why should there be means testing if one is wealthy?  This would just be another punishment to those who sacrificed and saved their entire lives.  It's bad enough the amount of punishment savers are enduring right now.  Those with money in the bank getting less than one percent return even though inflation is running over two percent are the biggest losers here.  Now, you want to take their SS from them as well?  Where does the punishment end?  SS would be just fine if someone would just figure out that you have to raise the age to draw as life expectancy increases.  When SS was first implemented, over 50% of those that paid in died before they ever reached the age to draw.  Please don't tell me that you agree with that nutjob Rick Santorum who believes abortion is the cause of SS's downfall because according to him one third of all the young people in America are not in America because of abortion.