"[Social Security's] so-called reserve fund....

[Inland]

is no reserve at all, because the fund will contain nothing but the governments promise to pay."

Alf Landon, Republican Candidate for President 1936, opposing the creation of Social Security.


"The Social Security system has no trust fund.... What's left over is "lent" to the federal Treasury. And gets entirely spent. It vanishes. In return, a piece of paper gets deposited in a vault in West Virginia saying that the left hand of the government owes money to the right hand of the government.These pieces of paper might be useful for rolling cigars."

Conservative Neocon Idiot Charles Krauthammer. Today.

So boys and girls, what have the conservatives learned in about 70 years of successful operation of the Social Security System? They have learned how to express completely erroneously beliefs in much more colorful and convoluted fashion. Seventy years and Charlie K. can't do better than parrot ideas proven false before Pearl Harbor and nylon stockings.

[whistle]

1. The United States government has its promise to pay on every

...note, dollar bills and treasury bills, bonds whatever, that has been going on for decades.

No, the Social Security surplus trust fund has been raided by Bush and I would like to know why he is so confident that that money does not have to be repaid. Could it be that BushCo and his cabal have secretly contrived some form of paper that allows the government to default on the promissory notes given to Social Security? Otherwise, the government has to pay it back with interest. That will mean new taxes down the road. Those new taxes must be levied on the wealthy.

[illflem]

5. and who pays the interest on the loaned out SS dollars?

the US taxpayer only!!!

[whistle]

7. Correct, surplus revenue by the government is not supposed

...to be spent by the government. It is supposed to be used to pay down government debt. Bush used the social security surplus to pay for his huge $1.5 trillion boondoggle tax refunds to the wealthy and he paid off the small tax payer to the tune of $10 to $100 to buy them off and keep their mouths shut. He did this by giving social security a note and that is being paid with interest by guess who, the average tax payers. Bush was not a fiscal conservative, he spent every dime that was taken in and then spent the capital, then spend all of the borrowed money and then has come back asking for more. He spent it on the war (wasted, we will never see any of that money ever), on tax breaks for the wealthy and the corporations, (all profits and windfalls for the wealthy and stockholders).

Bush has not raised federal income taxes while on this spending orgy, but you and I and all average working Americans are seeing the increases in inflationary prices for everything we buy, soaring energy costs, skyrocketing housing, medical educational, costs and rising local and city taxes. Can you feel it? Because if you can't now, you soon will.

[swag]

2. There goes our Moody's rating

[Postman]

3. I wonder if Krauthammer accepts dollars for his pay...

I guess he thinks government securities are no good.

Has anyone told China and Japan, since they keep buying our debt?

These reichwing lunatics are really showing how stupid they are.

[Eric J in MN]

8. He insists the publisher hand him a brick of gold once a month

for his writings, since the concept of money is based on promises.

(sarcasm)

[K-W]

4. If the government cant back its notes, SS is the least of our problems.

Proving once again that it is our economy, not social security, that is in crisis.

[StClone]

6. You all know that SS is a failed system don't you?

Bush and the NeoNazis are sure to make it fail if they have to invoke End times/Apocalypse/rapture to do it. Yea these duds have created chaos and debt where ever they go and I doubt SS is immune.