Obama/Congress now going to use Social security as a pawn in the Debt ceiling Fight

[Pasco08]

Will You Get Your Social Security Check if the U.S. Defaults? - Yahoo Finance

If Congress/Obama Mess with Social security then they truly all should be voted out of office/impeached. Social security is a lot of peoples only means to pay the bills and it isn't something to toy with and hold hostage you have already cost a lot of people there paychecks and now you want to mess with even more peoples money? Inexcusable.

 

[JakeStarkey]

What are you crying about, kid?

Politics is a hard knock activity.

 

[Pasco08]

What are you crying about, kid?

Politics is a hard knock activity.

Not even remotely relevant to said thread. I guess you don't care more people are going to be without there paychecks interesting.

 

[bendog]

What are you crying about, kid?

Politics is a hard knock activity.

Not even remotely relevant to said thread. I guess you don't care more people are going to be without there paychecks interesting.

If, after paying the interest on the debt, the executive branch only has the money to fund something like 50-75% of programs, why would you expect them to give some preference to old people over somehting else?

 

[driveby]

Will You Get Your Social Security Check if the U.S. Defaults? - Yahoo Finance

If Congress/Obama Mess with Social security then they truly all should be voted out of office/impeached. Social security is a lot of peoples only means to pay the bills and it isn't something to toy with and hold hostage you have already cost a lot of people there paychecks and now you want to mess with even more peoples money? Inexcusable.

Of course Obama is, he did it last time ........

 

[Bill Angel]

Ok, here is one solution to the shutdown and debt ceiling impasse: Social Security payments are based on one's prior earnings, not on what one needs to collect from the Government to live on. If some people were willing to accept smaller payments from Social Security, the money that they did not collect would go into an account that could be inherited by their children or other designated heirs. Money passed on to heirs is subject to an inheritance or estate tax. So this scheme would serve two purposes: enable the government to recover some of the benefit payments via the estate tax, and reduce the size of the Social Security outlays that will need be paid to the "baby boomer" generation, as such outlays will be deferred until they die, and then will be paid to their heirs.

 

[NYcarbineer]

Social Security now adds to the deficit, but it is not Social Security's fault. The Trust Fund is generating interest from its government bonds,

and in the last couple years it has drawn off some of that interest income to pay recipients.

The federal government has to pay that interest out of the general fund, and a third of the government's spending is being borrowed,

therefore, if the government can't borrow anymore, it either has to cut SS payments, or take the money away from someone else to make the payments.

 

[iamwhatiseem]

Just a note......have you all noticed the $85,000,000,000 PER MONTH for the bond buying Wall Street prop - has not stopped. No matter if the U.S. actually started defaulting....you can be sure even then this will continue.
No one is even talking about this.

 

[LordBrownTrout]

Let O double down on this albatross that's hanging around his neck. His numbers are dropping like cinder in water.

 

[LordBrownTrout]

Just a note......have you all noticed the $85,000,000,000 PER MONTH for the bond buying Wall Street prop - has not stopped. No matter if the U.S. actually started defaulting....you can be sure even then this will continue.
No one is even talking about this.

And the new fed lady, yellen, has no plans of stopping it.

 

[KokomoJojo]

Will You Get Your Social Security Check if the U.S. Defaults? - Yahoo Finance

If Congress/Obama Mess with Social security then they truly all should be voted out of office/impeached. Social security is a lot of peoples only means to pay the bills and it isn't something to toy with and hold hostage you have already cost a lot of people there paychecks and now you want to mess with even more peoples money? Inexcusable.

yeh and to think the government is the trustees of such important matters is incomprehensible.

 

[KokomoJojo]

Social Security now adds to the deficit, but it is not Social Security's fault. The Trust Fund is generating interest from its government bonds,

yeh but it shouldnt because it is a rotating pool.
There is no money in the account it is charged as we go.

 

[regent]

If I were a good Republican i'd say: I think the seniors in the nation have fed off of the Social Security welfare system for all these years and now have to share some of the problems caused by the Democratic shutdown. Besides America wouldn't even have a Social Security system if it weren't for the Republican party.

 

[bendog]

to be fair, Obama wasn't the one who said "defund obamacare or we'll implode the govt." The guy leaves much to be desired, but the TPM needs a lesson.

 

[KokomoJojo]

If I were a good Republican i'd say: I think the seniors in the nation have fed off of the Social Security welfare system for all these years and now have to share some of the problems caused by the Democratic shutdown. Besides America wouldn't even have a Social Security system if it weren't for the Republican party.

once created corporations no longer offered pensions.

 

[bendog]

If I were a good Republican i'd say: I think the seniors in the nation have fed off of the Social Security welfare system for all these years and now have to share some of the problems caused by the Democratic shutdown. Besides America wouldn't even have a Social Security system if it weren't for the Republican party.

As a Republican, I say these old people are "takers," and not "makers;" therefore, they need to get off the govt tit.

 

[LordBrownTrout]

If I were a good Republican i'd say: I think the seniors in the nation have fed off of the Social Security welfare system for all these years and now have to share some of the problems caused by the Democratic shutdown. Besides America wouldn't even have a Social Security system if it weren't for the Republican party.

Could you explain that? I'm pretty sure that FDR started SS.

 

[NYcarbineer]

Social Security now adds to the deficit, but it is not Social Security's fault. The Trust Fund is generating interest from its government bonds,

yeh but it shouldnt because it is a rotating pool.
There is no money in the account it is charged as we go.

The Trust Fund is invested in US treasury securities. Each year the payroll tax takes in X amount of revenue. In most years those revenues are more than enough to pay SS recipients for that year;

the excess goes to the Trust Fund and is then invested in more US treasury securities,

in order to earn INTEREST, like any similar investment.

In the last two years, some of that interest earned had to be cashed in to add to the years payroll tax revenue in order to pay recipients.

 

[KokomoJojo]

As a Republican, I say these old people are "takers," and not "makers;" therefore, they need to get off the govt tit.

why? dont the corporations want to share anymore?

 

[KokomoJojo]

Social Security now adds to the deficit, but it is not Social Security's fault. The Trust Fund is generating interest from its government bonds,

yeh but it shouldnt because it is a rotating pool.
There is no money in the account it is charged as we go.

The Trust Fund is invested in US treasury securities. Each year the payroll tax takes in X amount of revenue. In most years those revenues are more than enough to pay SS recipients for that year;

the excess goes to the Trust Fund and is then invested in more US treasury securities,

in order to earn INTEREST, like any similar investment.

In the last two years, some of that interest earned had to be cashed in to add to the years payroll tax revenue in order to pay recipients.

as I said pay as you go.