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(32,324 posts)
15. One trillion a year means that
Mon Dec 10, 2012, 06:31 PM
Dec 2012

around six percent of the GDP is in the hole. If only most Americans had such a situation with their personal budgets!

But let's forget that for a moment. Let's instead say that it is indeed a good idea to get rid of some 4+ trillions of dollars being spent by the Federal Government over the next ten years.

Then let's remind ourselves and our law makers that MOST IMPORTANTLY - Social Security is its own damn fund! And currently is supposed to be showing some 2.1 Trillions of dollars as surplus. (The fact remains that perhaps this money has been "borrowed" for any of a number of projects, going all the way back to the Vietnam War.)

But in any case, if Congress borrowed against it, they should admit it and replenish the Social Security fund - and quit pretending, like my Blue Dog Congressman does, that Social Security is contributing to the deficit. it isn't.

Here are two separate ways to reduce the deficit by 2.1 trillion apiece, while leaving the Social Security fund untampered with.

One - immediately end the wars. Period. Savings= 2.1 trillions of dollars.

Two: end the Bush era Tax cuts that Obama extended. Immediate savings= 2.1 trillions of dollars.

Total savings of above: 4.2 trillions of dollars!

Now to accomplish number two - the President and Dems in Congress don't need to do a damn thing.

Pete DeFazio, Democrat Congressman from Oregon, already pointed this out last week. If nothing is done, the Bush era, Obama-extended tax cuts for the Upper Two Percent END on Dec 31st. So we don't even have to worry that the President's "negotiating" skills will be needed.

If those two ideas aren't good enough - here is my final offer. The Bernie Sanders-insisted upon Audit of the Federal Reserve showed that the man Obama re-appointed to the Federal Reserve, one Ben Bernanke, has "loaned out" some 15 to 16 trillions of dollars to his buddies in Big Financial Companies around the world. These monies aren't even considered in the Deficit Discussions, because the way the Fed is handled is very simple - Bernanke can do what he wants to do, and it isn't supposed to affect anyone at all. Bernanke even told the public this during one of the interviews that "Sixty Minutes" undertook a year or two back.

But experts now say that of these 15 to 16 trillions of dollars, some 4.7 trillions will never ever be repaid. So how about the president sitting down in his cozy Oval Office and signing an Executive Order that simply captures these monies from the bank accounts where they are nestled. Our government officials have done this to various other bank accounts, such as Bin Laden's. And even to some national bank accounts. (I believe we have even impounded monies from the state of Iran. And Libya.) So there is precedent.

I doubt that Obama would have the cajones to do this. But it really is most unfair that it come out of the Social Security funds, as those are monies that we and our employers have paid in. In my case, I have been paying into the fund for some 40 years.

Not winning the election didn't matter to them, proceeding as planned with a megaphone of fear. Avalux Dec 2012 #1
Absulutely Time for change Dec 2012 #2
Although you must agree that humbled_opinion Dec 2012 #11
And if we femrap Dec 2012 #14
I agree but the revenue humbled_opinion Dec 2012 #19
OK - let's forget going back to the Clinton tax rates for the super rich jcgadfly Dec 2012 #28
Now your talking about something that humbled_opinion Dec 2012 #30
When I look femrap Dec 2012 #31
Actually, some rich people Time for change Dec 2012 #32
Well technically they took advantage humbled_opinion Dec 2012 #33
They did a lot more than that. Time for change Dec 2012 #35
Yes, I femrap Dec 2012 #34
One trillion a year means that truedelphi Dec 2012 #15
I applaud your concept but humbled_opinion Dec 2012 #20
Please let Jn Stewart (or his staff) know the numbers he truedelphi Dec 2012 #24
Absolutely not Time for change Dec 2012 #16
When a countries debt humbled_opinion Dec 2012 #21
The question before us is how best to handle our current situation now -- Time for change Dec 2012 #22
not only the msm but the President himself ??? rtassi Dec 2012 #6
Yes, I know. Avalux Dec 2012 #9
Well, he also refers to "Clean Coal" rtassi Dec 2012 #17
kr HiPointDem Dec 2012 #3
very good post Angry Dragon Dec 2012 #4
Fuck this compromise. OFF THE CLIFF! NT Pryderi Dec 2012 #5
Rep Clyburn on MSNBC is saying, "Let's meet half way" - meaning 37% nt Pryderi Dec 2012 #7
The Chart NewYorkTaxPayer Dec 2012 #8
It's from "The Nation" Time for change Dec 2012 #12
This post is a great reference point... humbled_opinion Dec 2012 #10
Spot on as always. go west young man Dec 2012 #13
This "fiscal cliff" is all shock doctrine garbage gollygee Dec 2012 #18
Always a recommendation for your articles. Egalitarian Thug Dec 2012 #23
The absence of a progressive voice in our government... kentuck Dec 2012 #25
It is almost like they think we are stupid. aandegoons Dec 2012 #26
In my opinion it's not so much that they think we're stupid, as Time for change Dec 2012 #27
It's just more for them and less for us.Until we break that cycle nothing is ever going to change. Initech Dec 2012 #29
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