Republicans holding us hostage yet again.

[Kasz216]

spaceguy said:

BatMaxExposedWorld said:
It's impossible for Social Security to go broke as long as there are more employed americans than retirees. The social security trust fund isn't the utility used to fund SS, it's just additional funds. If you don't know how the program works you should probably just refrain from commenting at all.

Boehner admitted on NBC that there "is no immediate debt crisis." He actually said this. Then he goes and prolongs this pathetic, joke of a republican tactic to generate fear in uneducated americans. The debt crisis isn't an immediate problem, it's a problem but not something that needs to be focused on during the midst of a horrific global economic crisis that will probably last another 6yrs.

Austerity isn't working for the Eurozone. It's OBVIOUSLY not working when you come to the realization that Europe is going into a double dip recession. Germany was better off than other European countries, it didn't experience the same fallout. Using Germany to justify austerity (which is obviously failing) is just stupid. You look like a fool who doesn't know what he/she is talking about.

Balanced budgets don't meant anything. America has run on deficits for a very long time, the economy actually functions on a small deficit. That is the goal, a small deficit. Nobody is signing any clinton-era "balanced budgets." One balanced budget doesn't do anything if the year after we go back to deficits. That is our reality.

Yeah, so these political threads are pretty sad. It's like fox news threw up in here lol. Good Luck!

I just ignore KASZ because his facts are useless and he uses his power to shield himself. This site is full of people that don't understand Economics at all. I laugh at most of their replies. People of this site are just horribly informed. He always answers back to me and always disagree's and than uses Rush Limbaugh facts to prove his points. Better yet he uses Koch brother research. He has used it alot and I called him on it. However I  get banned for even talking to the guy.

You get banned because you can't ever hold an intellegent conversation without resorting to flaming whenever you run into a fact you can't debate.

A lot like the above... but with more deragotory baseless insults.

How is it a Rush Limbaugh fact that Obama said during the first debt ceiling showdown that Social Security checks can't be guarnteed?

 

 

"Mr. Obama warned that if Congress doesn't raise the debt limit, Social Security checks and veterans' benefits could be delayed and government workers and vendors wouldn't get paid."

 

 

http://online.wsj.com/article/SB10001424127887324235104578241512112508322.html

 

If there was a social security trust fund... how could that be true?

 

As said by great republican theologist Al Gore.  There is no real social security trust fund.

 

What the social security trust fund holds is government bonds.  Which is why the debt ceiling will effect social security pensioners.  Because the government needs to borrow money to pay off it's social security government bonds.  Some more liberal economists will argue that constitutes real assets (but not money) because a government bond is just like a corporate bond.   Which would be true... if it weren't owned by the issueing company.

An easy way to illustate this is say, take Sony.  If Sony were to issue 1M in corporate bonds, bought 1M in coproate bonds from themselves, then releaed 1M More in coprorate bonds, bought them from themselves again.... would you say that Sony just trippled their balance sheet? 

The sad part here is that your letting partisianship get in the way or realizing that the way social security is set up now... people WILL be screwed.  I don't believe like Republicans that social security should be privatised, however that is a better option then the current one.  The BEST option is to work like such right wing strongholds as Denmark, Canada and pretty much the rest of the world.   

That is to hire someone to manage national pension funds via stocks and bonds NOT reliant on the government.  As it is, sooner of later people will be screwed out of their social security by a lowering of benefits, or a raising of retirement age.

 

Instead that money should be invested smartly in real assets.  (Preferably with some means testing on contributions after the legislation point.)