Posted on 07/15/2011 7:28:37 AM PDT by kristinn
Obama and GOP to hold dueling press conferences this morning on the pending Obamageddon. The Republicans are set to speak to the press sometime this morning after a closed door caucus meeting featuring a doomsday briefing on debt default.
Obama is set to speak at 11 a.m. EDT.
The Social Security trust funds are, by law, invested in a special class of bond which cannot be sold on the open market (although they could be presented for payment):
By law, income to the trust funds must be invested, on a daily basis, in securities guaranteed as to both principal and interest by the Federal government. All securities held by the trust funds are "special issues" of the United States Treasury. Such securities are available only to the trust funds. In the past, the trust funds have held marketable Treasury securities, which are available to the general public.
Unlike marketable securities, special issues can be redeemed at any time at face value. Marketable securities are subject to the forces of the open market and may suffer a loss, or enjoy a gain, if sold before maturity. Investment in special issues gives the trust funds the same flexibility as holding cash.
Source:
http://www.socialsecurity.gov/OACT/ProgData/fundFAQ.html
There's at LEAST 2.4 trillion in programs that NEEDS TO BE GUTTED! Let's start with Obamacare and then, fraudulent Medicare, Privatize Fannie and Freddie, Pass tough TORT reform that is draining the system. The list is endless where cuts can be made.
Agreed but they make too much of this crap. If Biden became pres. he would get nothing done and can skip the campaigning. He couldn’t do any more harm than Osama/Obama. In fact, we could put him on an AMTRAK train and send him to DC. It will be at least 2012 until he finds the White house.
And why is the media not calling him on this stupidity? - YOU'RE KIDDING, RIGHT?
BFLR
No its just a laser dot.
Obama is about to go down, and thats with him being propped up by the media.
The crash will involve histrionics, tantrums, threats, creation of false "default" crisis and a run for the 14th amendment to circumvent Congress.
The Obama regime is fascist, and that is no joke. Just look at the manipulation of the public by the media, and by the White Hut.SHAMEFUL.This whole grift is pointed at the increase of dictatorial powers in Obama.
We are close on to impeachment time, just to get the truth out to the US public.Draw articles in the HOuse and throw the whole mess of his consitutional crimes at him.
OMG! Obama just said “Job-Killing Tax-Cuts”!
IS HE REALLY THAT F-IN STUPID?
And why is the media not calling him on this stupidity?
Hmmm Do you really need an answer...
OMG! Obama just said “Job-Killing Tax-Cuts”!
IS HE REALLY THAT F-IN STUPID?
And why is the media not calling him on this stupidity?
Hmmm Do you really need an answer...
Waiting for the U-tube video of Hitler ranting about the failed Omageddon campaign,
Oh they’ve been using the “we can’t afford to pay for tax cuts for the super rich” since at least Clinton.
It’s hilarious to see Yahoo and others carrying Obama’s water—”Obama taking his case to the American people”! OOOOOHHHH, wow, he’s having another flippin press conference, how innovative!
We are all having to make decisions on friendships. There is a line being drawn in the sand.
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