jtown1123
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Mon Oct-31-11 12:50 PM
Response to Original message |
| 73. This quote pretty much sums everything up: |
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And, no, sensible liberals, there is no way to make this "debate" go away with some "grand compromise." Fake news articles like this should make that clear. The rich want that Social Security money, it's how they guarantee themselves a lovely tax cut. Link: http://www.eschatonblog.com/2011/10/con.html |
| -"Washington Post Discards All Journalistic Standards In Attack on Social Security" |
sabrina 1 |
Oct-30-11 04:53 PM |
#0 |
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Well you can do that at the expense of everything else. |
dkf |
Oct-30-11 04:59 PM |
#1 |
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Can you explain what you mean by 'at the expense of |
sabrina 1 |
Oct-30-11 05:14 PM |
#5 |
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Maybe you didn't notice how we almost weren't able to pay SS benefits |
dkf |
Oct-30-11 05:24 PM |
#10 |
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you're incredibly misinformed. remarkably so. |
nashville_brook |
Oct-30-11 05:33 PM |
#13 |
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Obama: Social Security Checks Threatened If Debt Ceiling Deal Isn't Reached |
dkf |
Oct-30-11 05:51 PM |
#17 |
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Yes, and he later said it was because nobody could mail checks. Nothing to do with funds. |
PSPS |
Oct-30-11 06:00 PM |
#20 |
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Nope. It was because of a lack of funding. |
dkf |
Oct-30-11 06:14 PM |
#26 |
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You haven't answered my question. |
sabrina 1 |
Oct-30-11 06:18 PM |
#28 |
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Good question... |
dkf |
Oct-30-11 06:44 PM |
#31 |
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Well, I think the creditors have something to say about these |
sabrina 1 |
Oct-30-11 07:25 PM |
#34 |
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Pure unadulterated sophistry. |
ooglymoogly |
Oct-30-11 07:57 PM |
#35 |
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Well actually the amount that is paid back to China does change. |
fasttense |
Oct-31-11 06:24 AM |
#62 |
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SS securities have maturity dates & set rates. |
Laluchacontinua |
Nov-01-11 02:20 PM |
#96 |
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In 2010 Social Security (OASDI) income was $781.1 Billion, & outgo was $712.6 Billion, |
Laluchacontinua |
Oct-31-11 01:43 AM |
#51 |
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That doesn't add up to a negative cash flow. |
Major Hogwash |
Oct-31-11 03:12 AM |
#52 |
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They ignored the interest. As per usual. As they will ignore Obama's tax holiday, |
Laluchacontinua |
Oct-31-11 05:58 AM |
#61 |
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They failed to mention that SS has other sources of revenue |
sabrina 1 |
Oct-31-11 06:55 PM |
#81 |
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That wasn't because of the debt ceiling |
PSPS |
Oct-30-11 05:40 PM |
#15 |
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Thank you! |
sabrina 1 |
Oct-30-11 05:56 PM |
#19 |
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No no no. Social security runs through the general fund. |
dkf |
Oct-30-11 06:02 PM |
#21 |
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Your knowledge of how bonds and financing works is flawed. |
PSPS |
Oct-30-11 06:12 PM |
#25 |
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But the payroll tax flows in to the same general account as the rest of the funds. |
dkf |
Oct-30-11 06:22 PM |
#29 |
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The article is claptrap & citing claptrap as a reference is not compelling. |
Laluchacontinua |
Oct-31-11 04:04 AM |
#54 |
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+1 And that nails the coffin shut on some of the inane claptrap |
ooglymoogly |
Oct-30-11 08:02 PM |
#36 |
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That's completely false. 1) SS is funded through DEDICATED OASDI taxes, which currently |
Laluchacontinua |
Oct-31-11 04:02 AM |
#53 |
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Thank you for your posts. They have been scaring people for |
sabrina 1 |
Oct-31-11 07:06 PM |
#82 |
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What has that got to do with SOCIAL SECURITY?? |
sabrina 1 |
Oct-30-11 05:46 PM |
#16 |
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The right question. nt |
ooglymoogly |
Oct-30-11 08:42 PM |
#38 |
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That had to do with the salaries of the government clerks, not any SocSec shortfall n/t |
eridani |
Oct-30-11 11:03 PM |
#43 |
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"Great independently funded system we have." |
Hissyspit |
Oct-31-11 12:47 AM |
#47 |
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We almost weren't able to pay anything at that point. Again |
sabrina 1 |
Oct-31-11 01:05 AM |
#49 |
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The Social Security fund can be solvent without any ability to pay benefits. |
dkf |
Oct-31-11 01:43 AM |
#50 |
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Actually I just noticed the lying articles making that claim, like the one you posted. |
Laluchacontinua |
Oct-31-11 04:09 AM |
#55 |
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Wrong. |
Rex |
Nov-01-11 05:20 PM |
#99 |
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I posted that article on Editorials/others yesterday now I realize it's flawed |
alp227 |
Oct-30-11 05:01 PM |
#2 |
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No need to apologize, it was written with the intention of |
sabrina 1 |
Oct-30-11 05:16 PM |
#7 |
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SS had enough in the trust fund to grant a COLA this year!! |
CarmanK |
Oct-30-11 05:05 PM |
#3 |
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Excellent post, thank you. |
sabrina 1 |
Oct-30-11 05:20 PM |
#9 |
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AARP will change the moment the wind gusts. |
ooglymoogly |
Oct-30-11 08:59 PM |
#40 |
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Post equals Times |
libinnyandia |
Oct-30-11 05:07 PM |
#4 |
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Recommend |
xchrom |
Oct-30-11 05:15 PM |
#6 |
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KICK! Keep up the good fight, people. |
senseandsensibility |
Oct-30-11 05:17 PM |
#8 |
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Maxine Waters, I think it was Maxine, |
sabrina 1 |
Oct-30-11 05:32 PM |
#11 |
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Yes! It was Maxine! |
senseandsensibility |
Oct-30-11 05:34 PM |
#14 |
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Thanks, I thought she was the one. She has been very angry |
sabrina 1 |
Oct-30-11 05:53 PM |
#18 |
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K/R |
Autumn |
Oct-30-11 05:32 PM |
#12 |
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WaPo has never been liberal, and has moved further to the right... |
SteveM |
Oct-30-11 06:04 PM |
#22 |
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Technically, the Post is right. If SS is paying out more than it takes in, then it is cash negative |
Exilednight |
Oct-30-11 06:05 PM |
#23 |
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It is NOT paying out more than it takes in. |
sabrina 1 |
Oct-30-11 06:11 PM |
#24 |
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Technically, the bonds are not surplus. I'm not defending everything in the |
Exilednight |
Oct-30-11 06:15 PM |
#27 |
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Well, the bonds were a good investment for the people |
sabrina 1 |
Oct-30-11 06:32 PM |
#30 |
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Exactly so. |
suffragette |
Oct-30-11 06:56 PM |
#33 |
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Hi suffragette! |
sabrina 1 |
Oct-30-11 08:58 PM |
#39 |
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Hi sabrina |
suffragette |
Oct-31-11 12:35 AM |
#46 |
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"This is 'Shock Doctrine' tactics. And we should not fall for it." |
woo me with science |
Oct-30-11 09:13 PM |
#42 |
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In 2010 SS ran a surplus. FICA taxes + taxation of benefits + interest |
Laluchacontinua |
Oct-31-11 04:21 AM |
#57 |
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That is SUPPOSED to happen! |
eridani |
Oct-30-11 11:04 PM |
#44 |
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Good point, thank you for making it. |
sabrina 1 |
Oct-31-11 12:04 AM |
#45 |
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No, they're wrong because they spun it to make people think it was something "bad" |
Laluchacontinua |
Oct-31-11 04:19 AM |
#56 |
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Anytime you pay out more than you take in, you're cash negative. The bonds don't count as |
Exilednight |
Oct-31-11 05:19 AM |
#59 |
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In 2010 SS collected about $70 billion more than it spent. The headline was wrong |
Laluchacontinua |
Oct-31-11 05:30 AM |
#60 |
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If they did collect $781 billion in FICA tax alone, then yes, the headline is wrong. But it's only |
Exilednight |
Oct-31-11 06:08 PM |
#77 |
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The TF INCREASED last year. It didn't decrease. The headline is only "right" if you think the |
Laluchacontinua |
Oct-31-11 06:41 PM |
#78 |
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You keep ignoring the INCOME on those held bonds. WHY? |
Hassin Bin Sober |
Oct-31-11 12:06 PM |
#64 |
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I'm ignoring them because they don't count as income. Slice it anyway you want, but |
Exilednight |
Oct-31-11 06:07 PM |
#76 |
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Interest doesn't count as income? Since when? By whose accounting principles? |
Laluchacontinua |
Oct-31-11 06:42 PM |
#79 |
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Go back and re-read what i posted. |
Exilednight |
Oct-31-11 07:26 PM |
#84 |
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When the interest is paid, as it has been to SS without fail |
sabrina 1 |
Oct-31-11 08:36 PM |
#86 |
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Only cash coming in from revenue is ever considered income, everything else is |
Exilednight |
Nov-01-11 05:09 AM |
#91 |
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Interest income is income. I'm not sure what motivates the denial of that fact. |
Laluchacontinua |
Nov-01-11 11:55 AM |
#94 |
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By government accounting rules, interest earned off of bonds does not count as income. Seriously, |
Exilednight |
Nov-01-11 05:16 PM |
#98 |
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could you direct me to that post? there are a lot of posts up & you can find your post quicker than |
Laluchacontinua |
Nov-01-11 06:32 PM |
#102 |
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All income is an asset. All assets are income. |
sabrina 1 |
Nov-01-11 01:18 PM |
#95 |
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Here's the problem people are having with this. |
Exilednight |
Nov-01-11 05:20 PM |
#100 |
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A bond can't be a liability both in the general budget and the SS TF. |
Laluchacontinua |
Nov-01-11 06:34 PM |
#103 |
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Keep looking, it's there. n/t |
Exilednight |
Nov-01-11 06:36 PM |
#104 |
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LOL. Yes, it's there, but it doesn't say what you say it does. |
Laluchacontinua |
Nov-01-11 06:47 PM |
#106 |
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And Bonds have proven to be an asset to the American People. |
sabrina 1 |
Nov-01-11 08:46 PM |
#107 |
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The interest is not the bonds. Interest payments ARE income, by all accounting principles. |
Laluchacontinua |
Nov-01-11 12:54 AM |
#89 |
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They're never considered an asset in the banking industry. n/t |
Exilednight |
Nov-01-11 05:12 AM |
#92 |
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got a link for that? |
Laluchacontinua |
Nov-01-11 11:54 AM |
#93 |
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Yep, here ya go. |
Exilednight |
Nov-01-11 05:15 PM |
#97 |
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Ah, found it. Now if you could point me to the relevant section in those 2037 pages. |
Laluchacontinua |
Nov-01-11 06:40 PM |
#105 |
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You are ignoring the fact that the SS Fund showed a SURPLUS |
sabrina 1 |
Oct-31-11 08:31 PM |
#85 |
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The interest off the T Bonds are not income. Basic government accoutning practice. Here's a link |
Exilednight |
Nov-01-11 05:22 PM |
#101 |
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You keep ignoring the INCOME on those held bonds. WHY? |
Hassin Bin Sober |
Oct-31-11 12:06 PM |
#65 |
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So what if it is cash negative? |
Ganja Ninja |
Oct-31-11 12:29 PM |
#69 |
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+1. |
Laluchacontinua |
Oct-31-11 06:42 PM |
#80 |
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K&R&Bookmarked for later reference. |
Doremus |
Oct-30-11 06:53 PM |
#32 |
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Lol, I love that disgruntled baby! |
sabrina 1 |
Oct-30-11 08:05 PM |
#37 |
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k&r n/t |
RainDog |
Oct-30-11 09:13 PM |
#41 |
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K&R |
woo me with science |
Oct-31-11 12:48 AM |
#48 |
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The key fact is that SS has $2.6 trillion in bonds that are every bit as good as the bonds China own |
reformist2 |
Oct-31-11 04:37 AM |
#58 |
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Exactly, we are creditors just like China but they seem to |
sabrina 1 |
Oct-31-11 11:45 AM |
#63 |
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Sadly |
Harmony Blue |
Oct-31-11 12:23 PM |
#68 |
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Glad I saw this in time to Rec it. (nt) |
redqueen |
Oct-31-11 12:10 PM |
#66 |
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Ooooooo "Cash Negative"!!! Be afraid! Be very afraid! |
Ganja Ninja |
Oct-31-11 12:21 PM |
#67 |
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Kicked and recommended with one caveat, |
Uncle Joe |
Oct-31-11 12:30 PM |
#70 |
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Hi Uncle Joe, you are absolutely right. I keep forgetting to use |
sabrina 1 |
Nov-01-11 01:02 AM |
#90 |
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"They" are coming for our Social Security/Medicare, |
bvar22 |
Oct-31-11 12:42 PM |
#71 |
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And some people 'on the left' will defend it and excuse it |
sabrina 1 |
Oct-31-11 12:59 PM |
#74 |
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REAL Redistribution of Wealth |
Martin Eden |
Oct-31-11 12:43 PM |
#72 |
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Exactly. So much for the "53% of the population doesn't pay income tax" meme. |
Laluchacontinua |
Oct-31-11 07:11 PM |
#83 |
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This quote pretty much sums everything up: |
jtown1123 |
Oct-31-11 12:50 PM |
#73 |
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1,000 K&R |
swilton |
Oct-31-11 05:22 PM |
#75 |
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Kick....n/t |
unkachuck |
Oct-31-11 08:49 PM |
#87 |
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Too late to recommend. |
Quantess |
Nov-01-11 12:31 AM |
#88 |
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K&R....! |
KoKo |
Nov-01-11 09:33 PM |
#108 |
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