Posted on 07/19/2011 11:10:16 AM PDT by freespirited
If the national debt goes over $15 trillion, I will quit voting for anybody but die-hard conservatives. There will be no more voting RINO lessers of evils. I will allow evil communists like Obama to be elected rather than to let the RINOs assist them.
The RINOs are going to cave and give Obama lots of new debt. Until we hit $15 trillion in debt, I will keep voting lessers of evils in national elections. After - poof! I’m don’t. FURINOSS FURINOS FURINOS. No more. Screw you. I’m done. Eat communism. You made it.
I am on my knees thanking God that I was born in the 1950s and won’t suffer what your great grandchildren will suffer under hard socialist tyranny.
At the same time, tax rates would go down so removal of the home mortgage deduction may be a neutral.
Unfortunately the bonds sold in the last decade by the bankers to investors offered for a small premium per bond, or hedge funds to investors leveraged in T bills also offered loss insurance to the investor. Banks and hedge funds assumed gov T bills will never default, thus never backed the policies with sufficient cash reserves. Thus a temporary default means every bond holder who owned the insurance can exercise their insurance and demand the banks and hedge funds payments to cover the losses. Can you say Wall Street bank and hedge fund meltdown??!!! That is the link between the money in Soc Sec trust fund loaned out and our deficit spending financed by T bills sold by gov to banks/hedge funds and then to investors. Treasury officials know this, senior Senators know this, financial and corporate CEO’s know this, question is does the Tea Party know this??? Only way out is to nullify the financial products created by the Wall Street bankers and hedge funds that hold our financial system hostage.
My understanding is that the Social Security loans are not made in anything as specific as a t-Bill ~ that they are just journal entry notations.
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