About Obama and possibilty of losing SSI

[8537]

Not exactly accurate, either

Trust Fund FAQs

If all the income is invested, how do benefits get paid each month? Money to cover expenditures (mainly benefit payments) from the trust funds comes from the redemption or sale of securities held by the trust funds. When "special-issue" securities are redeemed, interest is paid. In fact, the principal amount of special issues redeemed, plus the corresponding interest, is just enough to cover an expenditure.

sale of securities...hmm...

Who buys those securities, Frank? (hint: It ain't anyone in the market)
Is it a marketable security if the security can't be sold in the market?

No, it's not.

So, you quoted that FAQ to prove it was a marketable security before you agreed it wasn't a marketable security?

OK then.

 

[CrusaderFrank]

sale of securities...hmm...

Who buys those securities, Frank? (hint: It ain't anyone in the market)
Is it a marketable security if the security can't be sold in the market?

No, it's not.

So, you quoted that FAQ to prove it was a marketable security before you agreed it wasn't a marketable security?

OK then.

That's what SSA is telling us. That's what the Trust Fund Manager is telling us. Bernie Madoff did the same thing. He'd send out statements telling every one how liquid and solvent they were.

I'd like the American public to understand how truly broke we are. How as of right now, Social Security is a 100% loss of Principal.

That's why Obama made the statement he did, was because the Trust Fund is backed by wampum, except that wampum might be worth more that the assets in the "Trust Fund"

I've been saying it since he made the comment, that with the exception of admitting there really are extraterrestials at Area 51, the bankruptcy of SocSec was the most startling revelation POTUS could make, and Obama made it!

 

[JoeB131]

There is a much better fix for Medicare than raising the age limit...try LOWERING it.

Medicare for all...

How does that "fix" the problem? The problem is, Medicare doesn't have enough money coming in. Now you COULD eliminate private health insurance and put everyone on medicare, but then you'd have the problem of having to raise Medicare's revenues.

There's a lot of good things to say about Medicare, but there's a lot of bad things, too. It doesn't investigate fraud with the efficiency of private insurance, for instance.

The thing is, if you are going to have single payer, you are going to have an eventual situation where the government is going to say to a dying person, "Nope, you aren't going to recover, we're cutting you off."

 

[Seawytch]

The way to make Medicare more viable for the long term is to let anyone who wants to, PURCHASE their health care thru Medicare instead of a private plan. Younger, healthier people in the pool.