Posted on 01/07/2009 3:20:29 PM PST by xtinct
Pointing with concern to "red ink as far as the eye can see," President-elect Barack Obama pledged Wednesday to tackle out-of-control Social Security and Medicare spending and named a special watchdog to clamp down on other federal programs — even as he campaigned anew to spend the largest pile of taxpayer money in history to revive the sinking economy.
The steepness of the fiscal mountain he'll face beginning Jan. 20 was underscored by stunning new figures: an estimate that the federal budget deficit will reach $1.2 trillion this year, by far the biggest ever, even without the new stimulus spending. The incoming president has walked this same tightrope each day this week — advocating fiscal discipline and taxpayer largesse together at nearly every turn, though in every case with little detail to back it up. With less than two weeks to go before taking the helm at the White House, he'll make the same pitch on Thursday, delivering a speech laying out why he wants Congress to quickly pass his still-evolving economic plan. Last year's U.S. deficit set its own record, but that $455 billion will be dwarfed by this year's. The new estimate, by the nonpartisan Congressional Budget Office, represents more than 8 percent of the entire national economy.
(Excerpt) Read more at news.aol.com ...
But, before WE the taxpayers buy in to any of these scare tactics... WE need to tell these people loud and clear that ALL non-citizens need to be off SS, SS Disability, Medicare and Medicaid.
Brighton section of Boston about 4 years ago it was discovered that Ted Kennedy brought in hundreds of elderly Russians. The got SS, housing, medicare, furniture, appliances, etc. ... all on the taxpayers dime.
And, about half the public housing residents or more now are illegal aliens.
How is the MSM able to juggle the cognitive dissonance of presenting Obama as both a rigid belt-tightener and the engineer of a 700 billion dollar spending spree? It makes my head hurt just to skim through these wacky articles.
Hey, don’t worry about out of control spending. That’s the latest fad. Just throw MORE money at it.
Watching to be sure all the dollars go to the all the ‘blue’ states. All the preferred constituencies.
I have a simple solution.
Keep your mittens off of my retirement kittens!
I put it in and I get it out! Case Closed.
aol. now there’s a reputable news organization.
We got a guy who wears a backassward baseball hat with a 65 trillion and growing bill to pay and no money to pay it. Oh Boy! I am so confident. Stick us with a fork.
That'd be his government-controlled health care system.. once the government controls who can get care then getting rid of the majority of the baby boomers will be easy.
Social Security and Medicare spending solved.
Gee, I thought it was the Republicans who were a threat to Social Security? Now, Obama is calling it “out of control”...interesting.
At the end of the day, however, I’m sure he will fix it by throwing even MORE $$ at it. Including free prescription drugs for seniors.
Why do you think they passed assisted suicide in Washington state?
Here it comes.
They are really going to try to do it. Aren’t they...?
Take, literally take our 401Ks & IRAs.
I can’t be held responsible for what results...
Excuse me! But we PAID INTO Social Security and Medicare... LBJ took that money and rolled it into the general fund to pay for all his great society programs. I would have loved to invest all the money I paid into FICA over the years, there would be a heck of a lot more money than I will ever collect out of SS.
With the level of economic crisis going on you'd have thunk he would have been working on this already instead of vacationing in a multimillion dollar mansion/resort hot-spot or working out in the gym on his girly man physique. /rant.
Good point, you thinking this is the set up for it?
The Republicans recognized SS is in a world of hurt and tried to do something about it (limited self-investment of one's own SS withholdings in choose-able safe investments), but are cut down as beeing evil.
I'm sure that since I'm actually saving for my future separate from SS that the O's plan is to make sure I'll never see a dime of my witholdings before I turn 100 years old.
Messing with Social Security would not result in a pretty mood among senions in this country.
Take, literally take our 401Ks & IRAs.
Good point, you thinking this is the set up for it?
I know that the leadership in the senate wants this to happen. If they do it, it's going to be buried within a bill the size of the October bailout bill, and will be rushed through the congress. The republicans won't have a say in the House, and there will be enough socialist republicans to block the filibuster.
This is exactly why I'm not putting into it right now. It's scary what this group is about to do right off the bat. Everything they want that's on the extreme left wing side will have to be shoved through immediately, giving enough time to pass for the people to forget how horribly wrong it is.
By Karen McMahan
November 04, 2008
RALEIGH — Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration.
Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly.
http://board.columbiatribune.com/lofiversion/index.php/t7601.html
This is exactly why a pulled my money. Pay taxes, take loses, pay penalties...but still walk away with MY retirement funds.
This is an entire setup to confiscate those funds.
It is all going to feel like it is happening in the twinkling of an eye. The truth is though we knew SS was in trouble. That is why many of us setup 401ks and IRAs.
Wrong isn’t the word for any of this. Evil doesn’t even come close.
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