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Posted on 07/13/2011 5:31:56 PM PDT by Kaslin
Entitlements: In trying to score political points against the GOP by warning that retirement checks were in jeopardy if the debt ceiling isn't raised, President Obama exposed the fraud at the heart of Social Security.
The closer the self-imposed Aug. 2 deadline for raising the debt ceiling comes, the more oddly politicians in Washington are behaving — and that's saying something.
Treasury Secretary Tim Geithner this week ridiculously insisted on a plan within 48 hours. Sen. Mitch McConnell proposed a Rube Goldberg idea to let President Obama increase the debt by vetoing a bill denying him a debt increase, or something like that.
Obama beat everyone, however, with his scaremongering claim that Social Security checks are at risk if he doesn't get his way on the debt ceiling. "I cannot guarantee that those checks go out on Aug. 3 if we haven't resolved this issue," he told CBS News, "because there may simply not be the money in the coffers to do it."
Wait! What happened to Social Security's "guarantee"? You know, the iron-clad assurance of Social Security benefits in exchange for paying into the program your whole working life? It's something Democrats constantly talk about, particularly when attacking Republicans who propose privatizing the program.
As Nancy Pelosi once put it: "Social Security has never failed to pay promised benefits, and Democrats will fight to make sure that Republicans do not turn a guaranteed benefit into a guaranteed gamble."
The AFL-CIO warned in 2005 about "President Bush's plan to replace Social Security's guaranteed benefits with risky private accounts." The AARP describes Social Security as "the guaranteed part of your retirement plan." Etc., etc.
(Excerpt) Read more at investors.com ...
If the Republican law makers had a brain between them they would already have Ads in every Democrat district in the country.
You are ABSOLUTELY right!
And to think, we used to hang people for stealing a horse.
If SS checks can so easily be threatened then we have no reason to trust the US govt as a whole in any other area. He didn’t just touch the third rail, he squarely laid down across it.
Obama may just as well have tattooed IDIOT across his own forehead for making such an asinine claim.
***Wait! What happened to Social Security’s “guarantee”? You know, the iron-clad assurance of Social Security benefits in exchange for paying into the program your whole working life? ***
You mean this one from the 1964 SSA?
http://www.ssa.gov/history/ssa/usa1964-2.html
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 money REALLY went! Read and weep!
http://www.socialsecurity.gov/OACT/ProgData/fundFAQ.html#n4
We have thousands dare I say millions of bernie madoffs running this country from multiple fronts of fed govt, especially in elected offices.. when does the civil war start?
“President Bush’s plan to replace Social Security’s guaranteed benefits with risky private accounts.”
Looks like our government’s accounts can also be risky, huh?
There was nothing risky about President Bush’s plan. Besides he gave the senior citizen who like myself were already on social security, and those who were close to it the choice, to stay with it.
I agree but the ads should be in the Republican and contestable district states....however, forget NYC and the Yankee fans in the NY state who found nothing wrong with the Yankee organization and especially Jetter, the penultimate god of self worship, taking advantage of the poor bloke who gave Jetter the baseball of the 3000 hit. Of course the ULTIMATE GOD OF SELF WORSHIP IS THE 00000BAMA, who thinks when he flushes the toilet that he not only has invented gravity but that his report of it has gravitas.
“There was nothing risky about President Bush’s plan”
I agree.
Wasn’t Bush’s plan to put no more than 10 percent of your Social Security account into very un-risky investments, and do that only if you chose to have it done?
It is so annoying when they refer to SSAN as an “entitlement program”. It is not an entitlement program. Those who have paid in these many years should either reap the benefits promised, or be paid back in full for the money deducted from their paychecks.
What happened to Social Security's "guarantee"? You know, the iron-clad assurance of Social Security benefits in exchange for paying into the program your whole working life? It's something Democrats constantly talk about, particularly when attacking Republicans who propose privatizing the program. As Nancy Pelosi once put it: "Social Security has never failed to pay promised benefits, and Democrats will fight to make sure that Republicans do not turn a guaranteed benefit into a guaranteed gamble." The AFL-CIO warned in 2005 about "President Bush's plan to replace Social Security's guaranteed benefits with risky private accounts." The AARP describes Social Security as "the guaranteed part of your retirement plan." Etc., etc.
LOL
love that graphic
BTW Bernstein (like Romer, Summers, and Goolsbee) has bailed.
He’s at a Wash DC think tank.
Baraq changes econ czars like the Detroit Lions change head coaches.
Tomorrow would be fine with me. I'm super pissed at ALL of these assholes, RATS and pubbies.
SS and Medicare are welfare attached to deceitful language. They have NEVER been anything else.
Withholding taxes are just taxes like any other. Do I have any real expectation of getting my gas taxes back when, instead of going into roads as originally promised, they are siphoned into some other type of boondoggle? Good luck with that.
As for SS “benefits”(which are just welfare payments), do you think that the promised amounts have been actuarially based on what an individual “pays in” (actually I have “paid into” nothing. There is no real trust fund. SS is just money in, money out. And now it is cashflow negative.)?
Most older people want to believe these deceptions (I’m not speaking about you). This is why the US is finished financially. Nothing will change because the left has tapped into our greed for other people’s money. We lack the character to save ourselves.
There literally isn’t enough money in the entire world to make good on all the SS and Medicare “promises”.
this is damning to all the people who have propped up this Ponzi scheme over the years.
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