Posted on 08/06/2011 4:04:09 AM PDT by SkyPilot
As I was watching the "spin" on MSNBC, CNN, and almost every other cable show last night regarding S&Ps decision to downgrade the soverign US credit rating for the first time in our nation's history, it was amazing to me that every liberal commentator and every Democrat appearing on the shows avoided the monster in the room at all costs:
ENTITLEMENTS
Entitlements are breaking the back of this nation. During the debt deal and its aftermath, Democrats made it clear they would not budge (or even address) the crippling effects of Medicare, Medicaid, or Social Security.
S&P's report did - right up front. In fact, it mentions Entitlements as the biggest problem.
Funny how the Lamestream Media missed that language, considering it is on the front page of the PDF document that S&P released on Friday night.
_____________________________________________________________________
Rationale
We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade. ...Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability. Our opinion is that elected officials remain wary of tackling the structural issues required to effectively address the rising U.S. public debt burden.
All excellent ideas...that will never see the light of day.
It’s not “private”. Jees your acting like government is benevolent.
How much have you currently received, I will get nothing as I continueto “invest”.
Didn’t see it last night but I’m waiting for a liberal pundit to arrive at the conclusion that S&P is a racist/terrorist organization.
The goal is to end the bleeding, yes... it would cost the government a fortune to issue checks = all everyone ever paid into the SS and medicare system + interest, but at least then the programs could be ended and the financial healing could start.
So, the people who started receiving it in the 1940s paid into it for 50 years?
It’s not insurance...never has been.
Either Social Security and Medicare will be means-tested, or the government will go bankrupt. Those are the choices. It’s looking like it’ll probably be the latter.
sometimes to save the patient... you have to remove an arm or leg.
“jees?”
Jeeze.
bm
let me see if I can be more clear ..
ONLY THE PEOPLE WHO PAID/PAY IN SHOULD COLLECT
can it be said any simpler?
I’d like to see all of the waste, like perks for fat cat beauracrats be cut first. I’m sure as big as the gov’t is, there are efficiecies that could be made too. It’s like in IL, they cut programs instead of cutting all the B.S. spending that goes on. Private planes, cars, fat paychecks for friends,etc. It’s all politics; make the voters mad whenever someone even mentions making budget cuts. Politics and glands have trumped public service.
Just to be precise, S&P is talking about Unemployment, SS, Medicare, i.e. programs you pay into and get a benefit based upon the amount you paid in.
Not Food Stamp (now called SNAP)
Not Medicaid
Not AFDC
Not daycare cash payments
Not nutitional assistance
Not special minority loans for business
Not Section 8 housing
It’s because Americans think they earned these things by working and paying in that it makes politicians so reluctant to cut them.
Again, No! the system is dead. I do not want your govt money. I have “paid in†for 30 + years, just go away, leave me alone and let me do with MY money what I want. I am tired of supporting everyone else.
ok guess my quotes did not werk. that “werk” for was the english major who wants to coRect ma grammar
That would immediately bankrupt our country. The money they paid in has been spent.
The money they paid in has been spent. It’s gone.
Well, it is trending that way (as you describe in your first paragraph). Michele Bachmann heads the Tea Party Caucus, so she is definitely a Tea Party leader in DC. So is DeMint, who was so instrumental in getting some of these people elected. It is everything but a party at this point. But more powerful for not being an official party. It’s just us patriots.
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