In 2005 Dems Blocked GOP Proposals to Fix Social Security… Today Social Security Is O

Discussion in 'Politics' started by Stephanie, Oct 30, 2011.

  1. Stephanie
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    Stephanie Diamond Member Supporting Member

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    SNIP::
    Posted by Jim Hoft on Sunday, October 30, 2011, 8:58 AM

    In 2005 Congressional Democrats blocked Republican proposals to save Social Security.
    Then they wildly cheered their own obstructionism during the State of the Union Address the following year.

    [ame=http://www.youtube.com/watch?v=6mqSXsNJzRM]Democrats Applauding Their Own Obstructionism - YouTube[/ame]

    Today Social Security is in the red.
    charts at site.

    SNIP:
    As Americans were focusing on Barack Obama’s record debt and unemployment the last two years, Social Security went cash negative this past year.
    The Washington Post reported,

    The debt fallout: How Social Security went ‘cash negative’ earlier than expected - The Washington Post

    Last year, as a debate over the runaway national debt gathered steam in Washington, Social Security passed a treacherous milestone. It went “cash negative.”

    For most of its 75-year history, the program had paid its own way through a dedicated stream of payroll taxes, even generating huge surpluses for the past two decades. But in 2010, under the strain of a recession that caused tax revenue to plummet, the cost of benefits outstripped tax collections for the first time since the early 1980s.

    read it all and comments..
    The Gateway Pundit | Where Hope Made a Comeback
     
  2. theDoctorisIn
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    theDoctorisIn Senior Mod Staff Member Senior USMB Moderator

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    That's why theres a few trillion dollars in the SS trust fund.
     
  3. CrusaderFrank
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    CrusaderFrank Diamond Member

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    No there isn't.

    That's why Obama admitted Social Security is broke back in August

    "I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it" Barack "Social Security Really is Bankrupt" Obama, the Downgraded and Not so Shovel Ready President
     
    Last edited: Oct 30, 2011

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