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Forums - General - Obama's Lockbox

So, the healthcare bill is most likely going to pass tomorrow (without them voting on it). Funny how that's posable.

Anyway, the bill is going to start collecting funds this year, but healthcare is not going to go into effect, for the most part, until years down the road.

So 4 years of funds will be collected, and then in 4 years, those dollars are going to be needed.

What do you think the odds are the the government is just going to put that money in a lockbox, and save it for healthcare? Billions and billions of dollars are going to be entering Washington, and they are just going to set it aside for later.

Yea, bullshit.



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Hey Clinton did it with his huge social security surplus before Bush showed up and spent it at a candy store.



The Ghost of RubangB said:
Hey Clinton did it with his huge social security surplus before Bush showed up and spent it at a candy store.

Obama (and this congress), is no Clinton (and that congress).



To tell you the truth, its better than spending money the government doesn't have!



Tease.

Squilliam said:
To tell you the truth, its better than spending money the government doesn't have!

This I agree with.



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So you complain when the government uses money it doesn't have, and you also complain when the government tries to use its own money. There is just no appeasing you it seems.



Mr Puggsly said:
Squilliam said:
To tell you the truth, its better than spending money the government doesn't have!

This I agree with.

As do I



The Ghost of RubangB said:
Hey Clinton did it with his huge social security surplus before Bush showed up and spent it at a candy store.

Actually i'm pretty sure there has never been a social security lock box.

Whenever social security has a suprlus the government uses that money to buy IOUs from itself in the form of US securties.  Then spends that money elsewhere.   Those securities being able to be redeemed later when running a deficit with interest.


Bush, when he dipped into social security was really just cashing in to IOUs that the government owned itself... so he wouldn't have to write more IOUs and technically it would be deficit nuetral because money in the Social Security Trust fund is counted on the national debt already.

 

Yep I'm right... from the Socia Security trust fund fact page by the government.

"As stated above, money flowing into the trust funds is invested in U. S. Government securities. Because the government spends this borrowed cash, some people see the current increase in the trust fund assets as an accumulation of securities that the government will be unable to make good on in the future. Without legislation to restore long-range solvency of the trust funds, redemption of long-term securities prior to maturity would be necessary.

Far from being "worthless IOUs," the investments held by the trust funds are backed by the full faith and credit of the U. S. Government. The government has always repaid Social Security, with interest. The special-issue securities are, therefore, just as safe as U.S. Savings Bonds or other financial instruments of the Federal government.

Many options are being considered to restore long-range trust fund solvency. These options are being considered now, over 25 years in advance of the year the funds are likely to be exhausted. It is thus likely that legislation will be enacted to restore long-term solvency, making it unlikely that the trust funds' securities will need to be redeemed on a large scale prior to maturity.

"



mirgro said:
So you complain when the government uses money it doesn't have, and you also complain when the government tries to use its own money. There is just no appeasing you it seems.

Government doesn't have its own money ... Government only has your money.

When it spends money before it collects it (or spends money that was put aside for something else), the government is building debt for you; and you will be forced to pay for this debt with higher taxes in the future.



TheRealMafoo said:

So, the healthcare bill is most likely going to pass tomorrow (without them voting on it). Funny how that's posable.

Anyway, the bill is going to start collecting funds this year, but healthcare is not going to go into effect, for the most part, until years down the road.

So 4 years of funds will be collected, and then in 4 years, those dollars are going to be needed.

What do you think the odds are the the government is just going to put that money in a lockbox, and save it for healthcare? Billions and billions of dollars are going to be entering Washington, and they are just going to set it aside for later.

Yea, bullshit.

As I replied to Rubang... about how Social Security has always worked... expect it to work like that.  The government will spend the money,  but put an IOU in the box with interest.