John Kasich on Social Security cuts: 'Get over it'

http://www.cnn.com/2015/10/09/politics/john-kasich-get-over-it-social-security/index.html ^ | Tal Kopan and Cassie Spodak

[gusty]

Give him his due, on this issue he is standing on the true conservative position. Those with hands off the entitlements are poseurs exposing their inner New Deal.

[Moonman62]

John Kasich on Social Security cuts: ‘Get over it’

...

Says someone with a great government pension.

The people who paid into SS all their lives aren’t getting an entitlement.

[Moonman62]

FDR isn’t the one who turned it into the mess that it is.

[Lurker]

It is not a “contract” at all. SCOTUS ruled on that decades ago.

L

[freedumb2003]

>>FDR isn’t the one who turned it into the mess that it is.<<

He was the ramrod. “Freedom from want” my 80-hour working behind!

I hope he is in the 8th circle of hell.

[Greetings_Puny_Humans]

Social Security is only screwed up because: 1) It is a ponzi or pyrmid scheme

And yet Social security was running surpluses, so much so they started raiding it to pay their other bills. Considering we were able to spend 2 trillion on Iraq as well, I find it hard to believe that no one can find a way to pay for social security beyond just raising the retirement age so high that no one lives long enough to receive it.

[sphinx]

Social Security historically was designed to run essentially on a break-even cash flow basis, with enough of an operating balance to provide a cushion in the event of a serious recession. There was NEVER a real trust fund. When the system hit a cash flow crunch in the 1980's, the fabled Ronald Reagan-Top O'Neill deal raised both taxes and the age of retirement to increase the size of the operating balance and create what was supposed to be a bigger cushion. The problem was, of course, that these added revenues were not saved. They were treated exactly as all Social Security excess revenues have always been treated -- i.e., they were folded directly into the Treasury's regular revenue stream, with Social Security being issued a special category of off-budget bonds. This is, again, exactly the same way as surplus Social Security cash has always been treated. The Social Security "trust fund" has never been anything more than off-budget debt. When Social Security draws down its trust fund, all it does is present its bonds to the Treasury which, having no cash reserves, immediately borrows the money from the Chinese.

We crazy right wing reformers have argued for decades that Social Security ought to shift to a fully funded system with a real trust fund, with your contributions invested in a 401(k) type account, with real savings, real investment, and full inheritability. The left and the MSM (but I repeat myself) always denounces this as "risky," preferring instead to kite checks to future generations. But bottom line, Social Security is today, and always has been, a pay as you go intergenerational transfer program. Non-means tested welfare, to be exact.

[I_be_tc]

Sorry, CB, I disagree. I believe it is an Entitlement. This is my money and I am entitled to it. However, Welfare is not an Entitlement. People who have not paid into the system are NOT entitled. People are not entitled to food stamps. I AM ENTITLED to what I have paid into. That is my money. It is not a payroll tax, or else, government employees would have to pay. This is my forced retirement income. It is MINE. Again, I AM ENTITLED to my money.

We need to start forcing them to not to refer to other payments out as Entitlements. Like “Gay”, they have corrupted the word.

TC

[RoadGumby]

I find it hard to believe that some socialist, redistribution program is palatable to you. Go ahead, justify generational THEFT

[kiryandil]

gusty wrote: If you want to remain pure in your stance, make sure to drop dead in your late seventies, thus you will not collect from the rest of us. A couple hundred grand does not last long in retirement. I calculate you got 11 years on you, then the tab becomes ours.

And gusty also wrote: Give him his due, on this issue he is standing on the true conservative position. Those with hands off the entitlements are poseurs exposing their inner New Deal.

Two quick points:

1. From It's A Wonderful Life: "I got $242 in here, and $242 isn't going to break anybody."

Give me my money back, or admit you stole it at gunpoint, Kasich.

2. Woe to the politician(s) who have to admit they stole it at gunpoint. There WILL be hangings. WILL.