Prediction: GOP will Vote to Pay Bond Holders while holding up SS Checks

[Procrustes Stretched]

peep!​

Bird's Chirping.

Bump.

 

[flacaltenn]

YAWN............

First off. Social Security payments are funded each month by taxation. There is actually a surplus of funds each month and this will continue until it peaks in 2021 or so at 3 TRILLION DOLLARS. We currently have INTERGOVERNMENTAL BORROWING FROM THIS TRUST of 2.7 TRILLION DOLLARS.

I can't believe anyone this ill-informed can vote.. Did ya miss the SS balance during the time that the DaliBama was playing Robin Hood and robbing the payroll taxes for SS premiums?? Ran a deficit for 2 years at least.. A HUGE deficit.. And it continues.. IN FACT --

Trustees Report Summary

Social Security’s total expenditures have exceeded non-interest income of its combined trust funds since 2010, and the Trustees estimate that Social Security cost will exceed non-interest income throughout the 75-year projection period. The deficit of non-interest income relative to cost was about $49 billion in 2010, $45 billion in 2011, and $55 billion in 2012. The Trustees project that this cash-flow deficit will average about $75 billion between 2013 and 2018 before rising steeply as income growth slows to the sustainable trend rate after the economic recovery is complete and the number of beneficiaries continues to grow at a substantially faster rate than the number of covered workers

IT'S ALREADY BROKE.. As far as income from taxation.. No "surplus of funds" as you asserted.. Guess you missed that part.. And as usual it went BROKE about 6 years before the PROJECTED date that the Govt was asserting..

By law, THIS MUST BE PAID, and if it runs out of money the Federal Treasury must pay it. If the Treasury doesn't have this money, THEY CAN BORROW IT TO PAY FOR IT.

And now for the REAL DEAL. Borrowing money to pay back these bonds DOESN'T RAISE THE FEDERAL DEBT BY A SINGLE PENNY...........................

As the Treasury will INCREASE INTEREST DEBT BORROWING and REDUCE INTERGOVERNMENTAL DEBT FOR EVERY CENT IT BORROWS.

This is Fear MONGERING by the LEFT. They can borrow to pay for it and it doesn't raise the overall debt at all.

Nice try, probably works on the uniformed. But I call it a LYING SACK.

I assume you meant "fear mongering by the RIGHT" which would be justified since EVEN THE SSAdmin is "fear-mongering"...

http://www.socialsecurity.gov/history/pdf/tr09summary.pdf

Neither the redemption of trust fund bonds, nor
interest paid on those bonds, provides any new net income to the Treasury,
which must finance redemptions and interest payments through
some combination of increased taxation, reductions in other government
spending, or additional borrowing from the public.

What part of "there is NOTHING of value in the SS Trust Fund don'tcha now understand?
You're stupid assertion that this is DEBT NEUTRAL is truely just zealot denial..
It's about the same as blowing the rent money on losing lottery tickets, putting the rent on your credit card and CLAIMING that was "debt neutral" and didn't cost you a penny because you were EXPECTING the debt to occur.. You just ignored it and acted irresponsibly.

There is nothing of value in the Trust Fund.. NOT EVEN REAL DEBT INSTRUMENTS.. Just an accounting entry and a promise.. And it has been ADDING TO OUR National Debt for years before YOU even realized it was happening..

Spare me the snooty lectures..

 

[Procrustes Stretched]

YAWN............

First off. Social Security payments are funded each month by taxation. There is actually a surplus of funds each month and this will continue until it peaks in 2021 or so at 3 TRILLION DOLLARS. We currently have INTERGOVERNMENTAL BORROWING FROM THIS TRUST of 2.7 TRILLION DOLLARS.

I can't believe anyone this ill-informed can vote.. Did ya miss the SS balance during the time that the DaliBama was playing Robin Hood and robbing the payroll taxes for SS premiums?? Ran a deficit for 2 years at least.. A HUGE deficit.. And it continues.. IN FACT --

Trustees Report Summary

Social Security’s total expenditures have exceeded non-interest income of its combined trust funds since 2010, and the Trustees estimate that Social Security cost will exceed non-interest income throughout the 75-year projection period. The deficit of non-interest income relative to cost was about $49 billion in 2010, $45 billion in 2011, and $55 billion in 2012. The Trustees project that this cash-flow deficit will average about $75 billion between 2013 and 2018 before rising steeply as income growth slows to the sustainable trend rate after the economic recovery is complete and the number of beneficiaries continues to grow at a substantially faster rate than the number of covered workers

IT'S ALREADY BROKE.. As far as income from taxation.. No "surplus of funds" as you asserted.. Guess you missed that part.. And as usual it went BROKE about 6 years before the PROJECTED date that the Govt was asserting..

By law, THIS MUST BE PAID, and if it runs out of money the Federal Treasury must pay it. If the Treasury doesn't have this money, THEY CAN BORROW IT TO PAY FOR IT.

And now for the REAL DEAL. Borrowing money to pay back these bonds DOESN'T RAISE THE FEDERAL DEBT BY A SINGLE PENNY...........................

As the Treasury will INCREASE INTEREST DEBT BORROWING and REDUCE INTERGOVERNMENTAL DEBT FOR EVERY CENT IT BORROWS.

This is Fear MONGERING by the LEFT. They can borrow to pay for it and it doesn't raise the overall debt at all.

Nice try, probably works on the uniformed. But I call it a LYING SACK.

I assume you meant "fear mongering by the RIGHT" which would be justified since EVEN THE SSAdmin is "fear-mongering"...

http://www.socialsecurity.gov/history/pdf/tr09summary.pdf

Neither the redemption of trust fund bonds, nor
interest paid on those bonds, provides any new net income to the Treasury,
which must finance redemptions and interest payments through
some combination of increased taxation, reductions in other government
spending, or additional borrowing from the public.

What part of "there is NOTHING of value in the SS Trust Fund don'tcha now understand?
You're stupid assertion that this is DEBT NEUTRAL is truely just zealot denial..
It's about the same as blowing the rent money on losing lottery tickets, putting the rent on your credit card and CLAIMING that was "debt neutral" and didn't cost you a penny because you were EXPECTING the debt to occur.. You just ignored it and acted irresponsibility.

There is nothing of value in the Trust Fund.. NOT EVEN REAL DEBT INSTRUMENTS.. Just an accounting entry and a promise.. And it has been ADDING TO OUR National Debt for years before YOU even realized it was happening..

Spare me the snooty lectures..

"Snooty lectures" Oh sweet Jesus, the irony!

 

[flacaltenn]

YAWN............

First off. Social Security payments are funded each month by taxation. There is actually a surplus of funds each month and this will continue until it peaks in 2021 or so at 3 TRILLION DOLLARS. We currently have INTERGOVERNMENTAL BORROWING FROM THIS TRUST of 2.7 TRILLION DOLLARS.

I can't believe anyone this ill-informed can vote.. Did ya miss the SS balance during the time that the DaliBama was playing Robin Hood and robbing the payroll taxes for SS premiums?? Ran a deficit for 2 years at least.. A HUGE deficit.. And it continues.. IN FACT --



IT'S ALREADY BROKE.. As far as income from taxation.. No "surplus of funds" as you asserted.. Guess you missed that part.. And as usual it went BROKE about 6 years before the PROJECTED date that the Govt was asserting..



I assume you meant "fear mongering by the RIGHT" which would be justified since EVEN THE SSAdmin is "fear-mongering"...

http://www.socialsecurity.gov/history/pdf/tr09summary.pdf

Neither the redemption of trust fund bonds, nor
interest paid on those bonds, provides any new net income to the Treasury,
which must finance redemptions and interest payments through
some combination of increased taxation, reductions in other government
spending, or additional borrowing from the public.

What part of "there is NOTHING of value in the SS Trust Fund don'tcha now understand?
You're stupid assertion that this is DEBT NEUTRAL is truely just zealot denial..
It's about the same as blowing the rent money on losing lottery tickets, putting the rent on your credit card and CLAIMING that was "debt neutral" and didn't cost you a penny because you were EXPECTING the debt to occur.. You just ignored it and acted irresponsibility.

There is nothing of value in the Trust Fund.. NOT EVEN REAL DEBT INSTRUMENTS.. Just an accounting entry and a promise.. And it has been ADDING TO OUR National Debt for years before YOU even realized it was happening..

Spare me the snooty lectures..

"Snooty lectures" Oh sweet Jesus, the irony!

So you changed your bait.. You wanna see that big winger snap at it??

THAT my sometimes honest leftist bud wasn't a lecture.. THAT was real and honest rage about one of the greatest LIES ever perpetrated on the American people. And it's a MIRACLE that anyone left is stupid enough to trust these morons and theives with their healthcare now that they've been robbed blind and paid TWICE for SS benefits.
Dont twerk with honest rage.....

You wanna go fishing? Be sure you got the right tackle.. And I'd stick with real protein bait ---- not those artificial lures you WERE using

 

[Procrustes Stretched]

I can't believe anyone this ill-informed can vote.. Did ya miss the SS balance during the time that the DaliBama was playing Robin Hood and robbing the payroll taxes for SS premiums?? Ran a deficit for 2 years at least.. A HUGE deficit.. And it continues.. IN FACT --



IT'S ALREADY BROKE.. As far as income from taxation.. No "surplus of funds" as you asserted.. Guess you missed that part.. And as usual it went BROKE about 6 years before the PROJECTED date that the Govt was asserting..



I assume you meant "fear mongering by the RIGHT" which would be justified since EVEN THE SSAdmin is "fear-mongering"...



What part of "there is NOTHING of value in the SS Trust Fund don'tcha now understand?
You're stupid assertion that this is DEBT NEUTRAL is truely just zealot denial..
It's about the same as blowing the rent money on losing lottery tickets, putting the rent on your credit card and CLAIMING that was "debt neutral" and didn't cost you a penny because you were EXPECTING the debt to occur.. You just ignored it and acted irresponsibility.

There is nothing of value in the Trust Fund.. NOT EVEN REAL DEBT INSTRUMENTS.. Just an accounting entry and a promise.. And it has been ADDING TO OUR National Debt for years before YOU even realized it was happening..

Spare me the snooty lectures..

"Snooty lectures" Oh sweet Jesus, the irony!

So you changed your bait.. You wanna see that big winger snap at it??

THAT my sometimes honest leftist bud wasn't a lecture.. THAT was real and honest rage about one of the greatest LIES ever perpetrated on the American people. And it's a MIRACLE that anyone left is stupid enough to trust these morons and theives with their healthcare now that they've been robbed blind and paid TWICE for SS benefits.
Dont twerk with honest rage.....

You wanna go fishing? Be sure you got the right tackle.. And I'd stick with real protein bait ---- not those artificial lures you WERE using

"Protein bait" ain't goin' anywhere near that one. Not even with a 10' pole.

 

[asaratis]

......

This list...let the market forces and solutions apply. Isn't that the party line?

Now I know, thanks to your posts, what "crazy as a bed big" truly means.

Cute! That's all you got?

....

Who really wrote this?

Not you.

Who gives a fuck who wrote it? Address the content, dickhead!

 

[Procrustes Stretched]

[MENTION=32558]Luddly Neddite[/MENTION] [MENTION=19762]asaratis[/MENTION]

......

This list...let the market forces and solutions apply. Isn't that the party line?

Now I know, thanks to your posts, what "crazy as a bed big" truly means.

Cute! That's all you got?

....

Who really wrote this?

Not you.

Who gives a fuck who wrote it? Address the content, dickhead!

Looks like asaratis has contracted a severe case of assholitis.

 

[Rshermr]

Prediction: GOP will Vote to Pay Bond Holders while holding up SS Checks

People living hand to mouth will not get checks on time -- they can starve, but the US will pay bond holders. A temporary debt ceiling solution. To hell with the average American, but pay foreign bond holders. THIS IS THE GOP SOLUTION FOR GOVERNING.

The GOP Speaker of the House should allow an up or down vote on the cr to fund government. He should stop throwing a hissy fit while protecting his backside from Tea Party daggers.

note: of course if this prediction fails Dante has an extremely long way to go to equal the failed predictions of rightwingers @usmb.

You're a fucking moron. The elderly are the largest voting block in this country. Nobody is going to hold up their checks.

[MENTION=21665]Dont Taz Me Bro[/MENTION]

So you are saying the Tea Party and the GOP leadership didn't sgutdown tge government on a principle, that it is about their base and votes? They'll screw military families and others but not old white people?

Cool go to the head of the class.

Correction. Not RICH old white people!!!!

 

[Rshermr]

Oh SHIT DAnte.. You mean there's NOT a lot of money laying around in the Soc Sec Trust Fund gaining value?

Say it ain't so man.. Have I been lied to? Who the f stole it? And why would I trust the same thieves and frauds with my Health Insurance??

There is was and never will be a Social Security "trust fund"..
There is no magic federal bank account 'holding' our SS tax money.
The politicians have been stealing it for decades on the premise that as long as there are more workers than recipients, the system would remain solvent.
Well, now that the money has been squandered, 1.5 worker to recipient ratio is not sufficient to sustain SS.

Funny. You must have a link to an impartial source that proves that ss funds have been raided??? Cause I am wondering what your definition of raided is. Is it stolen, or is it borrowed. Who specifically did it? When? How much???
Just you saying that ss has been stolen by politicians is a ways from compelling. Maybe light years.
You are correct, there is no single "ss trust fund". But there are multiple trust funds that contain special issue treasury securities.

 

[asaratis]

[MENTION=15512]Dante[/MENTION]

[MENTION=32558]Luddly Neddite[/MENTION] [MENTION=19762]asaratis[/MENTION]

......

This list...let the market forces and solutions apply. Isn't that the party line?

Now I know, thanks to your posts, what "crazy as a bed big" truly means.

Cute! That's all you got?

....

Who really wrote this?

Not you.

Who gives a fuck who wrote it? Address the content, dickhead!

Looks like asaratis has contracted a severe case of assholitis.

I've been a self-proclaimed asshole for years now. You're kinda slow pickin' up on it, dude! Luddly has been a dickhead since he joined the board. I'm surprised you didn't know that already too.

Back to topic...I predict no delays in SS payments and no delays in bond holder payments.

 

[KissMy]

The SS trust fund should be invested in a diversified portfolio. That way when this country defaults it won't leave the people who invested their hard earned money, starving in the streets.

 

[Procrustes Stretched]

[MENTION=15512]Dante[/MENTION]

[MENTION=32558]Luddly Neddite[/MENTION] [MENTION=19762]asaratis[/MENTION]

Cute! That's all you got?

Who gives a fuck who wrote it? Address the content, dickhead!

Looks like asaratis has contracted a severe case of assholitis.

I've been a self-proclaimed asshole for years now. You're kinda slow pickin' up on it, dude! Luddly has been a dickhead since he joined the board. I'm surprised you didn't know that already too.

Back to topic...I predict no delays in SS payments and no delays in bond holder payments.

Whatever you it is you claim about a supposed reputation it is irrelevant. To think you believe Dante follows the watercooler gossiparound here.... jeezus!

Of course everyone will be paid...the GOP caved. It's over. Obamacae is the law of the land and it will be funded!

 

[flacaltenn]

Oh SHIT DAnte.. You mean there's NOT a lot of money laying around in the Soc Sec Trust Fund gaining value?

Say it ain't so man.. Have I been lied to? Who the f stole it? And why would I trust the same thieves and frauds with my Health Insurance??

There is was and never will be a Social Security "trust fund"..
There is no magic federal bank account 'holding' our SS tax money.
The politicians have been stealing it for decades on the premise that as long as there are more workers than recipients, the system would remain solvent.
Well, now that the money has been squandered, 1.5 worker to recipient ratio is not sufficient to sustain SS.

Funny. You must have a link to an impartial source that proves that ss funds have been raided??? Cause I am wondering what your definition of raided is. Is it stolen, or is it borrowed. Who specifically did it? When? How much???
Just you saying that ss has been stolen by politicians is a ways from compelling. Maybe light years.
You are correct, there is no single "ss trust fund". But there are multiple trust funds that contain special issue treasury securities.

Your opinions far exceed your knowledge of the situation.. Explains why you are on the left side..

GO BACK to post #42 and catch up on the facts and get back to us when you're PREPARED to discuss the SS Trust Fund.. There is NOTHING OF VALUE in it.. It went broke 6 years ahead of predictions in 2010.. It costs CURRENT TAXPAYERS more than TWICE what it should to pay current benefits not covered by FICA reciepts..

You've been robbed and lied to and you don't even know it..

 

[flacaltenn]

[MENTION=15512]Dante[/MENTION]

[MENTION=32558]Luddly Neddite[/MENTION] [MENTION=19762]asaratis[/MENTION]


Looks like asaratis has contracted a severe case of assholitis.

I've been a self-proclaimed asshole for years now. You're kinda slow pickin' up on it, dude! Luddly has been a dickhead since he joined the board. I'm surprised you didn't know that already too.

Back to topic...I predict no delays in SS payments and no delays in bond holder payments.

Whatever you it is you claim about a supposed reputation it is irrelevant. To think you believe Dante follows the watercooler gossiparound here.... jeezus!

Of course everyone will be paid...the GOP caved. It's over. Obamacae is the law of the land and it will be funded!

Oh -- it'll be funded --- fortunately for the Republicans.. Because the disaster it's gonna turn into SHOULD be encouraged. And Republicans are morons if they try to stop it now.

You will hear AUDIBLE screaming with your windows closed. Even if you live under a bridge. Pitchforks will come back into vogue about election time...

 

[Dont Taz Me Bro]

Prediction: GOP will Vote to Pay Bond Holders while holding up SS Checks

People living hand to mouth will not get checks on time -- they can starve, but the US will pay bond holders. A temporary debt ceiling solution. To hell with the average American, but pay foreign bond holders. THIS IS THE GOP SOLUTION FOR GOVERNING.

The GOP Speaker of the House should allow an up or down vote on the cr to fund government. He should stop throwing a hissy fit while protecting his backside from Tea Party daggers.

note: of course if this prediction fails Dante has an extremely long way to go to equal the failed predictions of rightwingers @usmb.

You're a fucking moron. The elderly are the largest voting block in this country. Nobody is going to hold up their checks.

[MENTION=21665]Dont Taz Me Bro[/MENTION]

So you are saying the Tea Party and the GOP leadership didn't sgutdown tge government on a principle, that it is about their base and votes? They'll screw military families and others but not old white people?

Cool go to the head of the class.

There is no government shut down, Dainty. 83% of the federal government up and running is not a shut down.

 

[eagle1462010]

YAWN............

First off. Social Security payments are funded each month by taxation. There is actually a surplus of funds each month and this will continue until it peaks in 2021 or so at 3 TRILLION DOLLARS. We currently have INTERGOVERNMENTAL BORROWING FROM THIS TRUST of 2.7 TRILLION DOLLARS.

I can't believe anyone this ill-informed can vote.. Did ya miss the SS balance during the time that the DaliBama was playing Robin Hood and robbing the payroll taxes for SS premiums?? Ran a deficit for 2 years at least.. A HUGE deficit.. And it continues.. IN FACT --

Trustees Report Summary

Social Security’s total expenditures have exceeded non-interest income of its combined trust funds since 2010, and the Trustees estimate that Social Security cost will exceed non-interest income throughout the 75-year projection period. The deficit of non-interest income relative to cost was about $49 billion in 2010, $45 billion in 2011, and $55 billion in 2012. The Trustees project that this cash-flow deficit will average about $75 billion between 2013 and 2018 before rising steeply as income growth slows to the sustainable trend rate after the economic recovery is complete and the number of beneficiaries continues to grow at a substantially faster rate than the number of covered workers

IT'S ALREADY BROKE.. As far as income from taxation.. No "surplus of funds" as you asserted.. Guess you missed that part.. And as usual it went BROKE about 6 years before the PROJECTED date that the Govt was asserting..

By law, THIS MUST BE PAID, and if it runs out of money the Federal Treasury must pay it. If the Treasury doesn't have this money, THEY CAN BORROW IT TO PAY FOR IT.

And now for the REAL DEAL. Borrowing money to pay back these bonds DOESN'T RAISE THE FEDERAL DEBT BY A SINGLE PENNY...........................

As the Treasury will INCREASE INTEREST DEBT BORROWING and REDUCE INTERGOVERNMENTAL DEBT FOR EVERY CENT IT BORROWS.

This is Fear MONGERING by the LEFT. They can borrow to pay for it and it doesn't raise the overall debt at all.

Nice try, probably works on the uniformed. But I call it a LYING SACK.

I assume you meant "fear mongering by the RIGHT" which would be justified since EVEN THE SSAdmin is "fear-mongering"...

http://www.socialsecurity.gov/history/pdf/tr09summary.pdf

Neither the redemption of trust fund bonds, nor
interest paid on those bonds, provides any new net income to the Treasury,
which must finance redemptions and interest payments through
some combination of increased taxation, reductions in other government
spending, or additional borrowing from the public.

What part of "there is NOTHING of value in the SS Trust Fund don'tcha now understand?
You're stupid assertion that this is DEBT NEUTRAL is truely just zealot denial..
It's about the same as blowing the rent money on losing lottery tickets, putting the rent on your credit card and CLAIMING that was "debt neutral" and didn't cost you a penny because you were EXPECTING the debt to occur.. You just ignored it and acted irresponsibly.

There is nothing of value in the Trust Fund.. NOT EVEN REAL DEBT INSTRUMENTS.. Just an accounting entry and a promise.. And it has been ADDING TO OUR National Debt for years before YOU even realized it was happening..

Spare me the snooty lectures..

STFU

I stated correctly that if you borrow from the Fed it would add debt to the Interest Bearing side.

I stated that the Gov't owes money to SS trust which is included in Intergovernmental Debt.

In that way you pay off the debt of one and add it to the other. aka The Debt Ceiling stays THE FUCKING SAME..................

Debt to the Penny (Daily History Search Application)

You will notice DEBT TO THE PUBLIC AND INTRAGOVERNMENTAL DEBT.

One goes up, the other goes down the same because it is DEBT OWED TO OURSELVES THAT IS NOT INTEREST BEARING. The DEBT CEILING DOESN'T CHANGE A FUCKING CENT.

Which is what I was saying..........Has our Gov't RAPED THESE FUNDS..............

Your damn skippy. 4.8 TRILLION between SS, Medcare and Pensions.

 

[eagle1462010]

Social Security Trust Fund - Wikipedia, the free encyclopedia

The United States Social Security Administration collects payroll taxes and uses the money collected to pay Old-Age, Survivors, and Disability Insurance benefits. This is done by way of "Trust Funds". There are two trust funds which the Social Security Administration controls: Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI).
When the program runs a surplus, there will be excess funding available for the Social Security Administration that year. The excess funds are diverted to one of the trust funds. The money in the trust fund is used by the treasury in the form of treasury bonds. The treasury bonds provide interest on the money in the trust funds, and if the program sees a deficit, the excess funds from previous years plus any interest earned is used to pay beneficiaries. At the end of 2011, the Trust Fund contained (or alternatively, was owed) $2.7 trillion, up $69 billion from 2010.[1] The fund is required by law to be invested in non-marketable securities issued and guaranteed by the "full faith and credit" of the federal government.
The trust fund represents a legal obligation to Social Security program recipients, although Congress could cut or raise taxes on such benefits if it chooses,[2] and is considered "intra-governmental" debt, a component of the "public" or "national" debt. As of April 2012, the intragovernmental debt was $4.8 trillion of the $15.7 trillion national debt.[3]
According to the Social Security Trustees, who oversee the program and report on its financial condition, program costs are expected to exceed non-interest income from 2011 onward. However, due to interest (earned at a 4.4% rate in 2011) the program will run an overall surplus that adds to the fund through the end of 2021. Under current law, the securities in the fund represent a legal obligation the government must honor when program revenues are no longer sufficient to fully fund benefit payments. However, when the trust fund is used to cover program deficits in a given year, the Trust Fund balance is reduced. By 2033, the fund is expected to be exhausted. Thereafter, payroll taxes are projected to only cover approximately 75% of program obligations.[4]
There is controversy regarding whether the U.S. government will be able to borrow sufficient amounts to honor its obligations fully to recipients or whether program modifications are required. This is a challenge for the Federal government overall, not just the Social Security program.

 

[eagle1462010]

What part of "there is NOTHING of value in the SS Trust Fund don'tcha now understand?
You're stupid assertion that this is DEBT NEUTRAL is truely just zealot denial..
It's about the same as blowing the rent money on losing lottery tickets, putting the rent on your credit card and CLAIMING that was "debt neutral" and didn't cost you a penny because you were EXPECTING the debt to occur.. You just ignored it and acted irresponsibly.

There is nothing of value in the Trust Fund.. NOT EVEN REAL DEBT INSTRUMENTS.. Just an accounting entry and a promise.. And it has been ADDING TO OUR National Debt for years before YOU even realized it was happening..

Spare me the snooty lectures..

And I'll address this as well. Fuck you and the horse you rode in on first.

I've been posting all over these threads that the Gov't has Raped the Funds. Hell they've been doing so since the 60's. Which is why we have Intragovernmental debt. They spent it and put a stack of IOU's into this catagory.

My point is on the Debt Ceiling and how they are Fear Mongering that it will not get paid if we don't open Gov't. I say that's BS, because of how the DEBT IS FUCKING ACCOUNTED FOR.

And my point there is SPOT ON. Not that they haven't spent the damn funds already.

 

[eagle1462010]

Social Security Does Not Add to the Debt ? The Monkey Cage

The Congressional Budget Office explains that our nation has two types of debts; those owed to the public and those the government owes itself. Debt to the public is owed to investors who have purchased Treasury securities. Debts the government owes itself are IOUs held by various government trust funds that have had surplus revenues in the past. The Social Security program ran a surplus from 1984 through 2009 (taking in more payroll tax revenue than was paid out in benefits). Of the estimated $16.3 trillion of accumulated federal debt through the end of 2012, $11.5 trillion was public debt and $4.8 trillion was debt held by various government trusts. The Social Security Trust Fund holds “assets” valued at $2.7 trillion.

Of course, the idea of a trust fund “asset” is controversial, since this is money the government owes itself. Trust funds are not assets to the federal government because the assets of any given fund are offset by liabilities owed by the Treasury Department; their net value to the federal government is zero. However, the Social Security Trust Fund is an asset for the Social Security Administration. That is, it represents a legitimate claim on the treasury backed by the full faith and credit of the U.S. government. Beyond this, if you believe that the nation’s debt is $16.3 trillion and counting, it is inconsistent to deny that trust fund balances (which compose about 30% of the debt) are real.

When the Social Security program has a cash deficit, the Social Security Trustees request repayment for some of the Treasury securities they purchased when the program was in surplus (when payroll tax revenues were greater than the cost of benefits). Since the government is currently in deficit, the Treasury Department must borrow money to finance these payments. However, the new borrowing does not increase total debt because this transaction is more akin to refinancing existing debt than accumulating new debt.

If you owe a $5,000 credit card bill and you take a home equity loan to pay off the credit card, your total debt has not changed; you have refinanced the debt, transferring it from one financial instrument (and one creditor) to another. Much the same can be said about repaying the OASDI Trust Fund. The fund’s assets are composed of debts already accounted for as part of the nation’s total debt. When the Treasury borrows to pay current Social Security benefits, the debt owed to the Social Security Trust Fund is repaid, refinanced, and transferred to whoever purchases Treasury securities.

Of course, the cost of refinancing the debt is a key concern. However, the only scenario in which repaying the Social Security Trust Fund can increase the nation’s debt is if interest rates are higher now than they were when the original debt was incurred. Given current market conditions (nominal interest rates are presently quite low, the rate on 10 year Treasury Bonds is around 2%), the more plausible claim is that refinancing the Social Security Trust Fund’s debt has reduced the nation’s debt slightly by reducing interest costs.

 

[Quantum Windbag]

Prediction: GOP will Vote to Pay Bond Holders while holding up SS Checks

People living hand to mouth will not get checks on time -- they can starve, but the US will pay bond holders. A temporary debt ceiling solution. To hell with the average American, but pay foreign bond holders. THIS IS THE GOP SOLUTION FOR GOVERNING.

The GOP Speaker of the House should allow an up or down vote on the cr to fund government. He should stop throwing a hissy fit while protecting his backside from Tea Party daggers.

note: of course if this prediction fails Dante has an extremely long way to go to equal the failed predictions of rightwingers @usmb.

Prediction, Dante will continue to say stupid things even when someone explains the facts to him.