Reid: No Social Security checks without debt deal | |
NoSilence User ID: 1440078 Mexico 07/14/2011 11:33 AM Report Abusive Post Report Copyright Violation | Echoing President Barack Obama's warning, Senate Majority Leader Harry Reid says Social Security payments would stop if there is no deal to raise the government's borrowing limit by Aug. 2. Quoting: Anonymous Coward 1464776Speaking on the Senate floor, the Nevada Democrat said flatly that payments for veterans benefits and the military, as well as Social Security, would cease if the government defaults on its obligations more [link to www.cnsnews.com] Sound like extortion to me... They should be handcuff and hauled off to Prison.... "In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot." Mark Twain |
Anonymous Coward (OP) User ID: 1464776 United States 07/14/2011 11:34 AM Report Abusive Post Report Copyright Violation | Echoing President Barack Obama's warning, Senate Majority Leader Harry Reid says Social Security payments would stop if there is no deal to raise the government's borrowing limit by Aug. 2. Quoting: Anonymous Coward 1464776Speaking on the Senate floor, the Nevada Democrat said flatly that payments for veterans benefits and the military, as well as Social Security, would cease if the government defaults on its obligations more [link to www.cnsnews.com] Sound like extortion to me... They should be handcuff and hauled off to Prison.... ^^^^ That's exactly what it is and they are scaring the elderly it's shameful! |
NoSilence User ID: 1440078 Mexico 07/14/2011 11:36 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1437659 United States 07/14/2011 11:38 AM Report Abusive Post Report Copyright Violation | |
NoSilence User ID: 1440078 Mexico 07/14/2011 11:38 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1310640 United States 07/14/2011 11:38 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1282080 United States 07/14/2011 11:39 AM Report Abusive Post Report Copyright Violation | |
Revbo™ User ID: 538751 United States 07/14/2011 11:39 AM Report Abusive Post Report Copyright Violation | Aren't there a few hundred thousand bureaucrats we could fire before we cut off the old folks? Surely, somebody at the EPA or Dept of Ed is useless enough to get rid of before we starve grandma. John 8:32 And ye shall know the truth, and the truth shall make you free. |
Always Looking User ID: 1037013 United States 07/14/2011 11:41 AM Report Abusive Post Report Copyright Violation | Maybe someone should ask him why they would stop if we all pay into the fund to make the payments? Maybe we should stop paying all the foregin aid we doll out and start taking care of our own!! But no one will ask the tough questions!! Truth and Facts - The two words liberals hate most! Suffering is burning emotional energy on the uncontrollable! The architect of the universe did not build a stairway to nowhere! |
NoSilence User ID: 1440078 Mexico 07/14/2011 11:42 AM Report Abusive Post Report Copyright Violation | Aren't there a few hundred thousand bureaucrats we could fire before we cut off the old folks? Surely, somebody at the EPA or Dept of Ed is useless enough to get rid of before we starve grandma. Quoting: Revbo™You are so right.. There's allot to trim before you threaten the elderly.. This is so disgraceful... "In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot." Mark Twain |
Anonymous Coward User ID: 905924 United States 07/14/2011 11:42 AM Report Abusive Post Report Copyright Violation | Echoing President Barack Obama's warning, Senate Majority Leader Harry Reid says Social Security payments would stop if there is no deal to raise the government's borrowing limit by Aug. 2. Quoting: Anonymous Coward 1464776Speaking on the Senate floor, the Nevada Democrat said flatly that payments for veterans benefits and the military, as well as Social Security, would cease if the government defaults on its obligations more [link to www.cnsnews.com] Sound like extortion to me... They should be handcuff and hauled off to Prison.... Yep. There's money in the coffers to cover those checks. They're just stomping their feet. |
Safia User ID: 1341264 United States 07/14/2011 11:42 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1427887 United States 07/14/2011 11:42 AM Report Abusive Post Report Copyright Violation | Echoing President Barack Obama's warning, Senate Majority Leader Harry Reid says Social Security payments would stop if there is no deal to raise the government's borrowing limit by Aug. 2. Quoting: Anonymous Coward 1464776Speaking on the Senate floor, the Nevada Democrat said flatly that payments for veterans benefits and the military, as well as Social Security, would cease if the government defaults on its obligations more [link to www.cnsnews.com] What a ficken circus! But keep on Bombing Libya! Oh yes, and how about our embassies: [link to www.usembassy.gov] How about all of our military bases oversees? [link to militarybases.com] ANY politician who even SPEAKS about cutting social security to our old people before they cut spending on these types of things is a threat to our nation and should be arrested. |
Anonymous Coward User ID: 1467632 United States 07/14/2011 11:43 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 905924 United States 07/14/2011 11:43 AM Report Abusive Post Report Copyright Violation | Maybe someone should ask him why they would stop if we all pay into the fund to make the payments? Quoting: Always LookingMaybe we should stop paying all the foregin aid we doll out and start taking care of our own!! But no one will ask the tough questions!! I think we should stop paychecks to Congress, myself. Oh and travel expenses for them and their families too. |
Anonymous Coward User ID: 905924 United States 07/14/2011 11:43 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1467633 United States 07/14/2011 11:44 AM Report Abusive Post Report Copyright Violation | Sounds like a simple statement of facts to me and despite the right wing fanatics who occupy this forum, the real people out here in the real world know exactly what is going on here. We all know that the end of Social Security and Medicare is the Republican dream and they're willing to destroy the country to realize their demented plans. |
^Watcher^ User ID: 1448724 United States 07/14/2011 11:44 AM Report Abusive Post Report Copyright Violation | "Out of the mouths of two witnesses, let every truth be established." This indicates to me that they ARE indeed planning to do this! Both my parents and in-laws are living on their SS right now. Looks like I need to get the guest bedroom ready for visitors! |
Anonymous Coward User ID: 1424606 United States 07/14/2011 11:48 AM Report Abusive Post Report Copyright Violation | |
Mukk1234 User ID: 1359403 United States 07/14/2011 11:48 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1030485 United States 07/14/2011 11:49 AM Report Abusive Post Report Copyright Violation | Sounds like a simple statement of facts to me and despite the right wing fanatics who occupy this forum, the real people out here in the real world know exactly what is going on here. We all know that the end of Social Security and Medicare is the Republican dream and they're willing to destroy the country to realize their demented plans. Quoting: Anonymous Coward 1467633The sad thing is you actually believe what you are saying. Stupid Sheep. |
SR37 User ID: 1463484 United States 07/14/2011 11:49 AM Report Abusive Post Report Copyright Violation | Sounds like a simple statement of facts to me and despite the right wing fanatics who occupy this forum, the real people out here in the real world know exactly what is going on here. We all know that the end of Social Security and Medicare is the Republican dream and they're willing to destroy the country to realize their demented plans. Quoting: Anonymous Coward 1467633You utter that statement and call Republicans demented? Whatever dude. Sheesh. |
AlasBabylon User ID: 1458028 United States 07/14/2011 11:49 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1419355 United States 07/14/2011 11:51 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1282080 United States 07/14/2011 11:51 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 968649 United States 07/14/2011 11:52 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1446888 United States 07/14/2011 11:53 AM Report Abusive Post Report Copyright Violation | Sounds like a simple statement of facts to me and despite the right wing fanatics who occupy this forum, the real people out here in the real world know exactly what is going on here. We all know that the end of Social Security and Medicare is the Republican dream and they're willing to destroy the country to realize their demented plans. Quoting: Anonymous Coward 1467633You're either very evil and deceitful, or completely insane. I'd bet money you're just evil. |
Anonymous Coward User ID: 1467630 United States 07/14/2011 11:54 AM Report Abusive Post Report Copyright Violation | The Social Security Act was signed into law in 1935 by FDR, the centerpiece of his New Deal Program. It was set up as a pay as you go program, where each year's FICA (Federal Insurance Contribution Act) taxes paid for that year's benefits. I.e. the program was not supposed to run a surplus. That changed in 1983, when Alan Greenspan chaired a commission to address coming demographic problems in the program. Congress raised the FICA tax to 15.3% and the program started to run a surplus. That surplus amounts to over $2 trillion as of now. However, under federal law, any program running a surplus had to invest it in government bonds. A special bond, the class E, is used for the Social Security surplus. All of the $2+ trillion has been spent and replaced by government IOU. I have been saying for years that the money is gone, and liberals and federal government lovers have been telling me I'm wrong. This proves it. The money is gone. Baby boomers, you paid into SS at an elevate rate for most of your adult lives. You paid for your parents' benefits, and you prepaid for your own. You were stupid and you trusted government/politicians. They screwed you. You have nothing to show for all your hard work and high taxes except a $2 trillion IOU from some politicians. Now let's all go out and lobby for more government, more taxes, more programs. Oh, and more politicians. |
Anonymous Coward User ID: 1288859 United States 07/14/2011 11:54 AM Report Abusive Post Report Copyright Violation | Maybe someone should ask him why they would stop if we all pay into the fund to make the payments? Quoting: Always LookingMaybe we should stop paying all the foregin aid we doll out and start taking care of our own!! But no one will ask the tough questions!! Yes, yes and yes! Could'nt have said it better myself. |
Anonymous Coward User ID: 591662 United States 07/14/2011 11:55 AM Report Abusive Post Report Copyright Violation | [link to market-ticker.org] To the peanut gallery that don't "get it": There is zero risk of Social Security and Medicare checks not going out if the debt ceiling is not raised for the next three years. Got it? Zero. How? Here's how: That total debt number is the amount subject to the limit, more or less. But the "Intragovernmental Holdings" is the amount that the Social Security and Medicare trust funds are "owed" by the general fund. The Treasury can redeem those by selling new bonds into the market in a 1:1 ratio and if they do so they now have dollars in an exactly equal amount. That's $4.6 trillion dollars. |