Mitch McConnell: We must cut Medicaid, Medicare, and Social Security to reduce the deficit

[sparky]

 

[eagle1462010]

Nice meme..........doesn't mean squat.......unless you are calling out RINO'S..........

You think they give a damn ..........they don't.........They are leaking this and saying this right before the election to help the Dems........because they all belong to the same basket of bought off whores.

 

[eagle1462010]

Solyndra Execs and Shareholders made Huge Donations to the Obama Campaign
Obama's stimulus became a special-interest feeding frenzy

In his first month, he showed that the two promises were incompatible. His $787 billion-dollar stimulus provided the lesson: Every time government gets bigger, some special interest is getting richer.

“President Barack Obama's $787 billion stimulus package has put clean-tech companies in ‘a feeding frenzy,'” reported tech journal GigaOm in 2009, quoting industry analyst Jesse Berst.


Every special interest Obama had attacked or would later attack supported the law. From the Chamber of Commerce to General Electric, Big Business loved the stimulus.

 

[kyzr]

Reality bites. We can "fix" SS & Medicare that are currently going bankrupt/insolvent.
"The Social Security Trust Funds are projected to become insolvent in 2034, according to the program's trustees."
"Medicare will run out of money in 2026, three years earlier than expected "

If McConnell and the GOP can modify the entitlements to get more revenue with fewer benefits that would help the Budget Deficit.

 

[AzogtheDefiler]

10,000 to 1 Trump has his monthly SS check electronically deposited in one of his accounts.

Why shouldn't he, he paid both sides of the tax.

.

He is donating his Presidential salary to charity.

Just chicken feed compared to what he's grifting off and through the government.

Proof...

 

[AzogtheDefiler]

Entitlements have to be addressed. Don’t touch the current beneficiaries but definitely impact future ones. Medicare is broken and retirement age needs to be increased to 72.

Why ? So we can fund millions of leeches coming here from the 3rd world, viewing us as the world's biggest flophouse ?

No. It’s mathematical. People are living longer. This is not the 50s. I don’t like illegal immigrants any more than you do. My dad is 77 and still works. He retired at 66 and has a full pension but he hated sitting around so he found a 2nd career. They don’t seem to have any issues with $. They got their house for a song and easily paid it off. Seniors who didn’t save properly need to stop whining.

 

[Hutch Starskey]

 

[Hutch Starskey]

I never thought this would happen. I voted for Trump in the primaries, and for him again in the general election. I love his presidency and his accomplishments, but all of a sudden now the bottom is starting to fall out of the Republican party.

Mitch McConnell is saying that we now need to cut Social Security and Medicare. Whaaat ? Is this man crazy ? He's not alone. He's got Paul Ryan on board with him. Hopefully, if these nutjobs go through with this in the Congress, Trump will shut it all down with a presidential veto.

The Newsweek article I saw on this said that Democrats are ready to pounce on Republicans who put this forward, They're not the only ones. A lot of us Republicans will pounce on them too, as I'm doing right now.

1. If you want to kill the Republican party, this is the sure way of doing it. Older people vote in droves, and will simply not tolerate cuts in our already too small incomes. This would be the greatest gift Republicans could ever give to Democrats.

2. Older people have worked their butts off for 50 or 60 years, paying into this. Not right to cut it back from them.

3. If you want to cut entitlements, how about getting rid of millions of illegal foreigner leeches, who are sucking up waay too much of the federal budget ? Jail politicians passing sanctuary city laws. Abolish birthright citizenship for kids of foreigners.

4. Cut govt waste, but Social Security and Medicare are not waste.

I dont know where you've been but Republicans have always wanted to get rid of "entitlements".

 

[sparky]

You think they give a damn ..........they don't.........They are leaking this and saying this right before the election to help the Dems........because they all belong to the same basket of bought off whores.

Yup, and they've beat that same drum every administration eagle

Every special interest Obama had attacked or would later attack supported the law. From the Chamber of Commerce to General Electric, Big Business loved the stimulus.

Anecdotally, i was on the biggest shovel ready stimulus in my state , totally corrupt and politizied.

If McConnell and the GOP can modify the entitlements to get more revenue with fewer benefits that would help the Budget Deficit.

Maybe Mitch could lead by example?
~S~

 

[sparky]

I never thought this would happen. I voted for Trump in the primaries, and for him again in the general election. I love his presidency and his accomplishments, but all of a sudden now the bottom is starting to fall out of the Republican party.

Mitch McConnell is saying that we now need to cut Social Security and Medicare. Whaaat ? Is this man crazy ? He's not alone. He's got Paul Ryan on board with him. Hopefully, if these nutjobs go through with this in the Congress, Trump will shut it all down with a presidential veto.

The Newsweek article I saw on this said that Democrats are ready to pounce on Republicans who put this forward, They're not the only ones. A lot of us Republicans will pounce on them too, as I'm doing right now.

1. If you want to kill the Republican party, this is the sure way of doing it. Older people vote in droves, and will simply not tolerate cuts in our already too small incomes. This would be the greatest gift Republicans could ever give to Democrats.

2. Older people have worked their butts off for 50 or 60 years, paying into this. Not right to cut it back from them.

3. If you want to cut entitlements, how about getting rid of millions of illegal foreigner leeches, who are sucking up waay too much of the federal budget ? Jail politicians passing sanctuary city laws. Abolish birthright citizenship for kids of foreigners.

4. Cut govt waste, but Social Security and Medicare are not waste.

I dont know where you've been but Republicans have always wanted to get rid of "entitlements".

Cut these then>

10 Perks Congress Has That You Don't -- The Motley Fool
~S~

 

[eagle1462010]

Last Loans Used to Buy AIG, Bear Stearns Assets Repaid: Fed Reserve

The Federal Reserve Bank of New York said on Thursday the last of its loans made to acquire risky assets from AIG and Bear Stearns during the financial crisis have been paid off with interest.

WE HAVE BEEN SAVED..........THANK GOD FOR GOVERNMENT......LOOK HERE.......

Don't look here...

Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts -- Sott.net

The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows..Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all placesView the 266-page GAO audit of the Federal Reserve (July 21st, 2011):

 

[eagle1462010]

Are Banks Borrowing from the Fed at Low Interest and Making Money Buying U.S. Treasuries?

Paul Solman: They have been doing just that, though of late it’s more that, thanks to the Fed, they’re borrowing from the capital markets — short-term — and lending longer-term to the U.S. Treasury. We reported this awhile agoourselves.

What’s happening is this: The Fed is keeping short-term interest rates low and implicitly insuring that TBTF (too big to fail) banks will never F. (After Tweeting irregularly for a year or so, I’m tempted to change the shorthand to 2B2F.).

As a result of the Fed’s negligible short-term rates and implicit insurance, the B banks can borrow in the global capital markets at near-zero cost, short term. They can then take that money and buy Treasuries – i.e., lend the money to the U.S. government.

But remember, the banks are taking a risk, even lending to the Treasury. It’s the risk banks always take when they borrow short and lend long. If short-term interest rates suddenly spurt, so does their cost of money, money which they must constantly raise, since it’s short-term. Meanwhile, the banks are stuck with their long-term loans, precisely because they are LONG-term.



But......but .....but..........but what if interest rates rise.......and the Too big to Fail fail again..........but .....but ........but what if the United States can't pay the interest on the loans.........but ........but .........but.......

They get money out the back door and make money at the front door..........

All the while...........the politicians do this.

 

[sparky]

Don't look here..

 

[sparky]

Christ on a cracker Eagle.....

 

[eagle1462010]

Government - Interest Expense on the Debt Outstanding

523 Billion .........a year..........yippie......yippie....yippie.....

 

[eagle1462010]

Don't look here..

I told you not to look...............Welcome to reality...............now it's time for the damage control freaks to come in and tell me I don't know jack shit about the markets.................LOL

 

[eagle1462010]

Now back to regular scheduled programming...........don't look behind the curtain no more

 

[kyzr]

View attachment 223273

Clinton went to a "unified budget" stealing the SS trust fund. "THE FISCAL LEGACY OF THE CLINTON ADMINSTRATION" TREASURY ASSISTANT SECRETARY FOR ECONOMIC POLICY DAVID W. WILCOX REMARKS TO THE SOCIETY OF GOVERNMENT ECONOMISTS WASHINGTON, DC

So all the money the baby boomers put into the trust fund was spent with government IOUs when they are supposed to get their benefits.

 

[Toddsterpatriot]

Are Banks Borrowing from the Fed at Low Interest and Making Money Buying U.S. Treasuries?

Paul Solman: They have been doing just that, though of late it’s more that, thanks to the Fed, they’re borrowing from the capital markets — short-term — and lending longer-term to the U.S. Treasury. We reported this awhile agoourselves.

What’s happening is this: The Fed is keeping short-term interest rates low and implicitly insuring that TBTF (too big to fail) banks will never F. (After Tweeting irregularly for a year or so, I’m tempted to change the shorthand to 2B2F.).

As a result of the Fed’s negligible short-term rates and implicit insurance, the B banks can borrow in the global capital markets at near-zero cost, short term. They can then take that money and buy Treasuries – i.e., lend the money to the U.S. government.

But remember, the banks are taking a risk, even lending to the Treasury. It’s the risk banks always take when they borrow short and lend long. If short-term interest rates suddenly spurt, so does their cost of money, money which they must constantly raise, since it’s short-term. Meanwhile, the banks are stuck with their long-term loans, precisely because they are LONG-term.



But......but .....but..........but what if interest rates rise.......and the Too big to Fail fail again..........but .....but ........but what if the United States can't pay the interest on the loans.........but ........but .........but.......

They get money out the back door and make money at the front door..........

All the while...........the politicians do this.

But remember, the banks are taking a risk, even lending to the Treasury. It’s the risk banks always take when they borrow short and lend long. If short-term interest rates suddenly spurt, so does their cost of money, money which they must constantly raise, since it’s short-term. Meanwhile, the banks are stuck with their long-term loans, precisely because they are Long-term.

Exactly. That's why Lehman went kaput.
Anyone who borrows overnight to buy long-term bonds or mortgages is going to have
a bad day when his overnight loan can't be rolled over.

 

[eagle1462010]

Are Banks Borrowing from the Fed at Low Interest and Making Money Buying U.S. Treasuries?

Paul Solman: They have been doing just that, though of late it’s more that, thanks to the Fed, they’re borrowing from the capital markets — short-term — and lending longer-term to the U.S. Treasury. We reported this awhile agoourselves.

What’s happening is this: The Fed is keeping short-term interest rates low and implicitly insuring that TBTF (too big to fail) banks will never F. (After Tweeting irregularly for a year or so, I’m tempted to change the shorthand to 2B2F.).

As a result of the Fed’s negligible short-term rates and implicit insurance, the B banks can borrow in the global capital markets at near-zero cost, short term. They can then take that money and buy Treasuries – i.e., lend the money to the U.S. government.

But remember, the banks are taking a risk, even lending to the Treasury. It’s the risk banks always take when they borrow short and lend long. If short-term interest rates suddenly spurt, so does their cost of money, money which they must constantly raise, since it’s short-term. Meanwhile, the banks are stuck with their long-term loans, precisely because they are LONG-term.



But......but .....but..........but what if interest rates rise.......and the Too big to Fail fail again..........but .....but ........but what if the United States can't pay the interest on the loans.........but ........but .........but.......

They get money out the back door and make money at the front door..........

All the while...........the politicians do this.

But remember, the banks are taking a risk, even lending to the Treasury. It’s the risk banks always take when they borrow short and lend long. If short-term interest rates suddenly spurt, so does their cost of money, money which they must constantly raise, since it’s short-term. Meanwhile, the banks are stuck with their long-term loans, precisely because they are Long-term.

Exactly. That's why Lehman went kaput.
Anyone who borrows overnight to buy long-term bonds or mortgages is going to have
a bad day when his overnight loan can't be rolled over.

Right on schedule...........we've been there before..............please proceed..............