Stop spending money you fools!!

[CrusaderFrank]

Says the genius who thinks we spend more on defense than old people.

Old people seem to bother you, why is that?

 

[Greenbeard]

Now let's change the subject.

That is the subject. The olds are our biggest and fastest growing spending obligation, the olds don't want to cut the olds' benefits, the olds have political power. Spending isn't going to stop.

 

[Woodznutz]

Grandpa, the reality is that no one's going to touch your checks and the budget's never going to be balanced. Rest easy.

Largely true. The debt just becomes part of the economy and is traded in the marketplace.

 

[Greenbeard]

Old people seem to bother you, why is that?

When you volunteer to give up your checks I'll believe you're serious about cutting spending.

 

[Woodznutz]

That is the subject. The olds are our biggest and fastest growing spending obligation, the olds don't want to cut the olds' benefits, the olds have political power. Spending isn't going to stop.

It's an interesting dichotomy, half of seniors hold huge wealth, the other half is dependent upon SS for survival, and together wield much political power.

 

[Woodznutz]

When you volunteer to give up your checks I'll believe you're serious about cutting spending.

SS payments support the domestic economy, which is much needed. Here is what retirees spend their money on. They contribute very little to the massive hemorrhage of money from the economy.

Average Retirement Spending in 2023 + Budgeting Tips - RetireGuide

Discover the latest data on average retirement spending and learn about average cost of health care, housing, transportation and other expenses for retirees.

www.retireguide.com

 

[Oddball]

That is the subject. The olds are our biggest and fastest growing spending obligation, the olds don't want to cut the olds' benefits, the olds have political power. Spending isn't going to stop.

No, I'm not the subject....You tried making it about me, and you failed.

Anyway, the fastest growing item doesn't preclude the fact that there are uncounted other areas of spending that could/should be cut or eliminated....Not the least of which is the MIC.

No, not very bright at all.

 

[Oddball]

SS payments support the domestic economy, which is much needed. Here is what retirees spend their money on.

Average Retirement Spending in 2023 + Budgeting Tips - RetireGuide

Discover the latest data on average retirement spending and learn about average cost of health care, housing, transportation and other expenses for retirees.

www.retireguide.com

Broken windows.

 

[Nostra]

Democrats manage that. They did it under Clinton, and were heading that way under Obama.

Past Republican tax cuts are pretty much responsible for all the current deficits.

Debt never went down under Clinton, and Obama’s last three deficits were going up, Dumbass.

 

[Woodznutz]

Broken windows.

Skilled domestic employment.

 

[Oddball]

Skilled domestic employment.

The bureaucrats, who feed first at the trough before any of us receive the pittance from the funds that we were forced to "contribute", aren't skilled producers.

 

[buckeye]

Trump is only slightly worse than Kamala

I agree with everything in your post except this. Trump is only slightly better than the vacuous idiot.

 

[evenflow1969]

It's gonna take pain....Nobody runs on pain.

That is because the electorate will not vote for common sense. We are a microwave society. We expect complicated problems to be solved over night. Worse we are a consumer based society. Quit spending and jobs disappear. Fuck if I know what to do. You could have the solution figured out and the legislation would never happen because no consensus would ever be reached to pass it. Glad I am ducking old. Won't be long till my dirt nap and I won't have to worry about it anymore.

 

[Resnic]

Need to find a cure for old.

What age do you think people should get to?

 

[Darkwind]

Democrats manage that. They did it under Clinton, and were heading that way under Obama.

Past Republican tax cuts are pretty much responsible for all the current deficits.

Republicans managed it, not Democrats.

 

[Darkwind]

Start by eliminating baseline budgeting.

 

[MisterBeale]

RFK Jr.: National Debt​

FK Jr. plans to confront Trump, Biden on $14T in debt, says he'd beat either head-to-head​

Kennedy Jr. tells Jesse Watters anti-Israel protests 'alarming,' condemns 'appalling' behavior​

https://www.foxnews.com/media/rfk-jr-plans-confront-trump-biden-14t-debt-beat-head

". . . A chart on the U.S. Treasury's Fiscal Data website reflects a $19.573 trillion national debt as of one month before Trump's election, and a $33.167 trillion debt as of September 30, 2023.

"We're now paying more than our defense budget to service that, within five years, we'll be paying $0.50 out of every tax dollar to service the debt," Kennedy added.

He also said while Trump pledged to end foreign wars, Biden "loves every war that he sees" – blaming Trump in part for the House approving $61 billion in Ukraine aid. .. ."

 

[Monk-Eye]

" Capitalizing On Vast Sums For Doing Nothing "

* Punishment Phase Of Helping Themselves To More For Less *

No, you need to find a cure for spending more than you take in.

Would reducing the amount of dividends to 0% from 6% , which the federal reserve banks receive and then distribute to their fat cats each year , help ?

Federal Reserve - Wikipedia

en.wikipedia.org

The amount of stock a member bank must own is equal to 3% of its combined capital and surplus.[78] However, holding stock in a Federal Reserve bank is not like owning stock in a publicly traded company. These stocks cannot be sold or traded, and member banks do not control the Federal Reserve Bank as a result of owning this stock. From their Regional Bank, member banks with $10 billion or less in assets receive a dividend of 6%, while member banks with more than $10 billion in assets receive the lesser of 6% or the current 10-year Treasury auction rate.[79] The remainder of the regional Federal Reserve Banks' profits is given over to the United States Treasury Department. In 2015, the Federal Reserve Banks made a profit of $100.2 billion and distributed $2.5 billion in dividends to member banks as well as returning $97.7 billion to the U.S. Treasury.[22]

 

[Woodznutz]

The bureaucrats, who feed first at the trough before any of us receive the pittance from the funds that we were forced to "contribute", aren't skilled producers.

0.5 percent

---

Universal participation and the absence of means-testing make Social Security very efficient to administer. Administrative costs amount to only 0.5 percent of annual benefits, far below the percentages for private retirement annuities.

 

[Oddball]

" Capitalizing On Vast Sums For Doing Nothing "

* Helping Themselves To More For Less *

Would reducing the amount of dividends to 0% from 6% , which the federal reserve banks receive and then distribute to their fat cats each year , help ?

Federal Reserve - Wikipedia

en.wikipedia.org

The amount of stock a member bank must own is equal to 3% of its combined capital and surplus.[78] However, holding stock in a Federal Reserve bank is not like owning stock in a publicly traded company. These stocks cannot be sold or traded, and member banks do not control the Federal Reserve Bank as a result of owning this stock. From their Regional Bank, member banks with $10 billion or less in assets receive a dividend of 6%, while member banks with more than $10 billion in assets receive the lesser of 6% or the current 10-year Treasury auction rate.[79] The remainder of the regional Federal Reserve Banks' profits is given over to the United States Treasury Department. In 2015, the Federal Reserve Banks made a profit of $100.2 billion and distributed $2.5 billion in dividends to member banks as well as returning $97.7 billion to the U.S. Treasury.[22]

Ending the Fed altogether would be an immense help.