Posted on 08/19/2012 5:14:43 AM PDT by Alas Babylon!
I think we get it at 2pm eastern
"In 2012, the projected difference between Social Securitys dedicated tax income and expenditures is $165 billion. For HI, the projected difference between dedicated tax and premium income and expenditures is $38 billion. The projected general revenue demands of SMI are $217 billion. Thus, the total general funds for Social Security and Medicare in 2012 are $420 billion, or 2.7 percent of GDP. Redemption of trust fund bonds, interest paid on those bonds, and transfers from the general funds provide no new net income to the Treasury, which must finance these payments through some combination of increased taxation, reductions in other government spending, or additional borrowing from the public."
Remember that the $420 billion is coming from the General Fund above and beyond what is collected in revenue from the payroll tax and premiums. And this number will grow rapidly as the baby boomers retire. And it is also worth stating that we must borrow 42% of that $420 billion.
You’ll enjoy it. Gillespie was okay but Gibbs was amazing (not in a good way). I didn’t know whether to laugh or cuss at the TV. I thought for a minute that we had changed channels and we were watching the Disney channel.
I also think Gibbs believes exactly what he’s saying. But he can only do that by ignoring reality and the facts.
Sounds like Trickle-down Economics to me.
Well thank you PP. Really didn’t expect anybody to read it.
That web site is read by everybody in Delaware. Before this I was more well known as a commenter, as you might understand. But I do have a category of Delaware Politics on my Blog and they read it, yes they do!
I’m a truth-teller is all, a scribe of the Tea Party, admittedly self-appointed.
I feel like there will soon emerge, like a beautiful monarch butterfly from its cacoon, a class of writers which will have no bounds....no editors, no political-correctness save common sense, a class able to offer thoughts and hey, you don’t gotta read, you can pass on by.
It’s what I do best and frankly, even in my aging age, I feel like I have been called.
So okay, maybe that’s crazy.
The link I put up is to a post very much about Delaware local stuff but folks, please remember, WE ARE THE PEOPLE WHO KICKED OUT MIKE CASTLE!!!
We’ve got sheriff’s getting kicked in the groin, councilman getting spinal injuries whilst riding some sort of play airplane thing, councilman....same one! seen riding all about town with a young thing on his arm....UNDERAGE!
Well, at the time anyway.
Next week I will make my endorsements.
Heh.
I figure my endorsements are as good as Dick Morris’, who swore the 2008 race would be between Hillary and Condaleeza.
I interviewed the guy of my first endorsement. He’s a friend, got kicked out of the Republican party as a Representative District chair....cause, get this, a DEMOCRAT wrote a letter to the editor complaining about something he said on the radio air waves.
The pubs.....in the name of the Father, the Son and the Holy Ghost....they will reach across the aisle with manicured hands but will rip off the heads and crap down the necks of any GOP type who would dare insult the Democrats.
Serious, folks, it’s the place to live if you’re a political junkee and now why did God drop me off right here in the middle of it all but hey, I’m up to it.
Plus I filed TWO campaign finance reports and I am fascinated at what a big day these filings are in the world of politics!!! Everybody signs on cause these things are open to anybody....and checks out who’s supporting who, who gave money to who.
Then got to file again a week before the primary election. Got yard signs, teaching my fellows how to do it.....
Heh.
Yeah....I’m pretty good with it all.
Pray for God to guide me right. I only want to tell the truth is all. What on earth could be wrong with that?
One of Obama’s and his surrogates unrelenting themes is that we should raise taxes on wealthy so they pay their fair share and we can get the deficit under control. Polling has shown that this line of attack is pretty effective with blue collar voters Romney needs in Ohio and the Midwest.
It is mind boggling that the Romney surrogates don’t hammer home the simple following facts home repeatedly on these shows:
1) Even if you dramatically raise taxes on those making over $250,000, the resulting increase in tax revenues (even assuming no change in behavior) does not come even remotely close to covering JUST OBAMA’S PROPOSED INCREASE IN SPENDING.
2) The real problem is the SPENDING. It is not a revenue problem.
3) The wealthy already pay way more than their fair share.
The bottom line is that Obama has increased spending exponentially and he and the democrats know that the only way to balance the budget without reducing spending is to raise taxes on the middle class. The Republicans cannot give the democrats a free pass on this as they have done so far. Every Republican who appears on these shows has got to make it clear that if spending is not reined in, taxes for everyone will have to go up and a tax increase on just the wealthy will not even come close to getting the job done.
Grover Norquist couldn’t even make the right argument this morning. Good grief.
Surrrrreeee. Fifteen Ozero cronies are going to analyze thousands of pending procedures and treatments for thousands of patients DAILY? Bull pucky. It will be First consideration; Party affiliation. Repub? Denied. Income based on SSI? (IOW, no high taxes paid) Denied.
Another point. Obama has a commercial in which he says that This great country has been prosperous for years and changing to a ‘trickle down’ economy will destroy the country. POOP, we have been using trickle down for >100 years which is what made this a prosperous country.
It did to me too! LOL
Actually, that sounds like a perfectly reasonable private sector "home-remedy" for the infestation of litigation parasites.
Otherwise, considering the trial lawyer lobby's pushback, we may well die of old age waiting for legislative tort reform.
So here’s the choice that Republicans have to lay out for people in response to Obama’s claim that we need to raise taxes on the wealthy to balance the budget.
“The numbers clearly indicate that raising taxes on the wealthy will not allow us to close the deficit if spending continues at the current level. The choice we face is to either rein in spending or raise taxes on everyone. Its as simple as that.”
The Republican job between now and the election is to make sure people know that that is in fact the choice. And I think if people understand the truth and that Obama is now lying, then we can win the argument.
Exactly, for many South Fla. doctors it was a do or die decision.
That was one of the 1st things that I noticed....such a hypocrite!
And whatever tax increase revenue is raised will just be ploughed into the welfare state to keep it on life support. What many of the people seem to be missing is that increased revenue will not solve our problems if we continue doing the same thing with the money.
Let’s spread the word brother!
Don’t know if anyone here has started a thread on this one yet but it could be some fun. Who are the top ten conservative writers of the day? Some notable ones like Anne Coulter and Michelle Malkin left off the list!!
http://pjmedia.com/blog/dream-team-the-10-best-conservative-columnists/#comment-3292696
I like your comment, ROCKLOBSTER, GOd is everywhere and so many churches have that left wing agenda. And you said it!
Better to be defending out liberty here and now.
from Winston Churchill: "You can always count on Americans to do the right thing, after they've tried everything else."
That does bring hope to this election cycle. Now it's time to get back to the jobs reports, the unemployment numbers, and the lack of a plan from Barack Obama. Too many free rides on the merry-go-round for him.
lol, Rocklobster. I think Evan Bayh’s political days are over.
Really, that little girl looks like she has 1% body fat, so one sandwich from McDonalds is not going to destroy her. Especially when a wide-beam like Michelle is delivering the criticism. At least Michelle did not offer to take her shopping to buy more sytlish clothing. Talk about liberal do as I say, not as I do. Sounds like the Obamas are auditioning to become Kennedys.
Truth Teller is an honorable profession / name.
Keep up the great commentary/work.
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