Posted on 05/12/2020 11:23:58 AM PDT by John S Mosby
Honest to God-- heard this dripped out of the radio news Fox news as "coming out of Congress"... this is a leak from Pelosi's next country breaking bunch of crap.
There is NO "trust fund" for these thieving lawyers to "loan" from. Book entry LBJ accounting--- they have themselves ALREADY taken money from and left the IOU's as the "trust fund" in a file cabinet in West Virginia. Coupled with 22 plus million current workers NOT currently "contributing" to the fund as the system requires. So it is far less than the 2.5 working for each SS beneficiary... not to say to be "loaned" to people who ARE NOT WORKING to support the system. You cannot make this up.
Who is suggesting this? Have no time today to find out. It is simply insane. Open the country get people back to work. Stop this CLOWARD PIVEN destruction of our systems, including our healthcare/hospital systems. This is their Plan. Buy votes with money we do not have, from people who will not pay it back, any more than a gubmint student loan. Elizabeth Warren... bankrupter bull crap!
I thought it was proposed by a conservative. I think giving people choices is good.
only stupid leftards think that money grows on trees..
an iou on an iou, yea that’s good logical smart money management.
There is no money. There never has been money. It was spent long ago.
All not put out as benefits in the then current year was turned over to Congress and promptly spent.
The same entity cannot both own the bond and owe the debt for it ... that piece of dishonest accounting chicanery is as old as the program itself, from that scumbag FDR’s time.
When the Social Security “Trust” Fund goes broke in 2025 instead of 2030 the critters will blame it on the Virus!
THAT’S when Seniors will start rumbling in the streets. They have their oxygen, Lil’ Rascals and canes. It could get ugly FAST!
Take it to the streets!
That doesn’t sound like a Democrat suggestion.
They could issue Covid Bonds.
So, you borrow a trillion dollars using this Bond issuance. You then waste it on any kind of silly pet project you can lay your hands on.
You pay back the interest on the bonds by adding little taxes and fees on things that are “bad” like; gasoline, churches, airplanes, gas powered lawnmowers, soda pop, cigarettes, guns, ammo, suvs, helicopters....
You never pay back the principal, because, well, because you can’t.
My cane is a .308 gas fed but not oxygen.
Wait ‘til the scumbags take part of your 401k or other savings. “For da childrens.”
Once the SSTF is exhausted, by law, benefits must reduced to equal revenue. That would amount to a 20% cut in benefits.
The HI Trust Fund that funds Medicare will run out in 2026.
80% of Americans pay more in payroll taxes than they do in income taxes.
This has to be coming from pelouse-i and schmuckie’s
proposal they described as “Rooseveltian”... no kidding. Would NOT want to tie my glider to that moniker.
Social Security IS a Ponzi scheme. It has been added to simple beneficiaries with “disability”, when the parents are killed the kids... for LIFE!, and it was billy cokenose clinton who started TAXING the benefits, and then later they split off automatic deductions for Medicare (no choice involved... it is TAKEN out of Social Security.
LBJ was the first to “borrow” money from the “trust fund”-— to put the funds in General Revenue... general damned revenue so he could “balance” his budget with the trust money to pay out the “War on Poverty”. God, what an ass! They’ve come back every year. The entire obiwankenyobi 8 years they NEVER had a budget... just continuing resolutions every one of which increased the “borrow” from SS trust funds.
It is PELOSI— “go big”... the “Heroe’s Act” hazard pay, direct cash payments. No liability protections for employers in all this, too
The SSTF contains $2.6 trillion in interest bearing, non-market T-bills. The SSTF is part of our $23 trillion and growing national debt. Those T-bills are backed by the full faith and credit of the USG just like any other T-bill.
OK, just hand over the IOUs to the state. Just like when the state gave out script in place of tax refunds one year.
well, it would take an idiot to propose borrowing from sociable insecurity when SS has zero net assets and itself is subsidized every year from the US Treasury
ss was and remains, is a giant ponzi scheme. it was designed that way at the start because the govt didn’t have any money to start paying out benefits during the great depression.
Borrowing from our own “investment” T-Bonds... which are of course NOT owned mostly by US citizens... more like institutional buyers (insurance) and.... the chi-coms. Just perfect!
They have their Geritol too, but I won’t go there.
All that money has been in the General Fund for decades, in spite of "lock box" fraud by Al Gore.
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