Stephanie
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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 Obamas 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
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 Obamas 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