National Debt Accelerates In 2012

Why do any of you reply to IQ-47? Is it because his statements are so inaccurate and deceitful that they are easy to knock apart? Do you just see him as an easy mark?

 

From the fucking idiot that thought the birther thing would get Obama out of office,that The SC would overturn Obamacare,that fast and furious would be Obamas watergate etc

This fucking idiot is still hoping Obamacare will be overturned

http://www.elitetrader.com/vb/showthread.php?s=&threadid=250419

 

Bin landen was pissed when BUSH SR sent troops to Saudi Arabia

Al-Qaeda was created in 1988 and started plotting attacks against The US in 1990 before Clinton took office

 

Social Security Faces Unfunded Liability of $8.6T, or $73,167.83 Per Household


Medicare Faces Unfunded Liability of $38.6T, or $328,404 for Each U.S. Household

 

http://www.dailyrepublic.com/opinion/localopinioncolumnists/social-security-bankruptcy-a-myth/



Social Security bankruptcy a myth



I had a good laugh the other day reading Murray Bass’ recent column, “Government on edge of ruin.” He started with the line, “Recent headlines include ‘Social Security and Medicare to run out of money earlier than expected,’ ” and when I did a Google search of that headline to check his sources, I got 43 results, all from his Daily Republic column.

But this story is not new. The “bankrupt” Social Security myth has been circulating for decades and currently seems to be a large part of the Republican strategy to convince voters that America is doomed unless we elect a Republican president, never mind the fact that George W. Bush was at the helm when his banker buddies caused this collapse.

In Murray’s column, he offered these frightening figures: “Unfunded liabilities include the government’s promises to pay such things as pensions, Social Security, Medicare, Medicaid and a variety of other long-term commitments without a guaranteed source of funds to pay them. Estimates vary, but the unfunded liabilities of the federal government are somewhere between $62 trillion and $100 trillion.”

I’m not sure where the $100 trillion number came from, but the $62 trillion came from the Social Security and Medicare trustees’ reports of January 2009. The critical piece of information missing from all these right-wing scare stories is that $62 trillion is the total projected obligation that both Social Security and Medicare are expected to pay out over the next 75 years. To think that there will be no money coming into these entities over this vast period of time is downright absurd. Medicare is paid for by our federal income taxes and Social Security is funded by each worker’s paycheck deductions. We taxpaying workers of America may not meet Murray’s high standards as “a guaranteed source of funds,” but I think we are as close to that as imaginable.

So here’s the real deal: For years, Social Security has been taking in about $100 billion a year more than it pays out. If nothing is done, that annual surplus will gradually shift to a deficit as our nation ages, but Social Security currently has $2.6 trillion in assets, enough to cover their projected obligations for decades. Will it eventually have to be tweaked? Yes. Is it an “entitlement” bankrupting America or some sort of Ponzi scheme that must be scrapped or radically altered? No. Further, to brand these safety-net insurance programs “entitlements,” as the Republicans delight in doing, makes as much sense as calling your car insurance an “entitlement.”

Why has this misinformation been pushed so hard by right-wing foundations for so long? Because the people funding them, Wall Street fat cats, want more of your money. They just gutted our housing market, but they always seem to need more. If voters can be conned into having our Social Security assets invested in the stock market, those trillions become fair game for their next round of “shear the sheep.”

Remember Bush’s plan to privatize Social Security and put their assets into the stock market, just before the last crash? He said that not privatizing Social Security was his greatest failure. His statement may seem peculiar in the context of 9/11, the Iraq War and the Great Recession, but if you look at it from the viewpoint of the extremely wealthy, it makes perfect, appallingly despicable, sense.

We have no control over their malicious propaganda machines, but as you enter the voting booth, ask yourself if the bankers, corporations, Wall Street elite, right-wing foundations and those who control the media really have your best interests at heart, or their own?

 

That IS interesting, I'll admit. Anyone else more knowledgeable on the subject care to weigh in, before I have to change my mind?

 

I think IQ-47 is a myth. Certainly not more than a poorly created bot.

 

You still think Romney will win the election piss poor ? After Romney loses that will be another one of your failed predictions once again proving what a fucking idiot you are

 

Assets is different then cash on hand. SS has a bunch of IOU's from the treasury.
It is already upside down. We now need to pay the IOU's out of the annual budget.