***Social Security and Medicare face an increasingly dismal fiscal future****
No it isn’t! Here is the gov’t promise from 1964!
Self-Supporting
“The program is designed so that contributions plus interest on the investments of the social security trust funds will be sufficient to meet all of the costs of benefits and administration, now and into the indefinite future—without any subsidy from the general funds of the Government. Both the Congress and the Executive Branch, regardless of political party in power, have scrupulously provided in advance for full financing of all liberalizations in the program.”
And here is where your hard earned money went! Read and weep!
http://www.socialsecurity.gov/OACT/ProgData/fundFAQ.html#n4
THE OLD AGE PENSION CHECK
Roy Acuff & His Smoky Mountain Boys - 1939
When our old age pension check comes to our door,
We won’t have to dread the poor house anymore.
Though we’re old and thin and gray,
Good times will be back to stay,
When our old age pension check comes to our door.
When her old age pension check comes to her door,
Dear old grandma won’t be lonesome any more.
She’ll be waiting at the gate,
Every night she’ll have a date,
When her old age pension check comes to her door.
Grow a flowing long white beard and use a cane,
‘Cause you’re in your second childhood, don’t complain.
Life will just begin at sixty,
We’ll all feel very frisky,
When our old age pension check comes to our door.
Powder and paint will be abolished on that day,
And hoop skirts will then be brought back into play.
Painted cheeks will be the rage,
And old maids will tell their age,
When their old age pension check comes to their door.
All the drug stores will go bankrupt on that day,
For cosmetics, they will all be put away.
I’ll put a flapper on the shelf,
Get a grandma for myself,
When her old age pension check comes to her door.
There’s a man that turned this country upside-down
With his old age pension rumor going ‘round.
If you want in on the fun,
Send your dime to Washington,
And that old age pension man will be around.
Oh, my! Never heard of that one before. But there is a load of insight in the lyric.
So, now, Timmy is selling panic to the entitlement crowd (being over 65, I'm one of them). In this sense, he joins Bernanke -- who is demanding that the debt ceiling be raised NOW.
Yet, we all know that, in the absence of raising the debt ceiling, the government can keep running for months on cash flow. Assuming reasonable priorities, debt service, defense needs and even all entitlements are secure for months.
But, for some reason which isn't clear, the administration is signaling panic.
Which leads me to ask: "Is there something we don't know?" Is there cash that is supposed to be there...that isn't? Is there debt which was supposed to have been sold...which wasn't? Are there accounts which were supposed to have been in order...which aren't?
I wonder if we are approaching one of those Moments of Truth...
This is THE BEST post I’ve seen so far this year! THANK YOU!
Right there is the LIE that has destroyed the underlying premise of SS. Thank you Democrats and Rinos.
When I start getting upset over the insolvency of our government at every level, I take a swig and sing this song:
http://www.youtube.com/watch?v=12cbF8FXadQ
I mean, it’s as ridiculous as ANY solution any CongressCritter suggests to “fix” things for us!
*Fingers In Ears* La-La-La-La-La!!
Does everyone understand that we’re screwed and have been for a very long time?