Obama lied about SocSec Trust Fund

[CrusaderFrank]

Obama recently had a Community Agitator moment. It seems he forgot he was POTUS and thought he was knocking on doors in Chicago to rile up the legions of Mindless zombies that make up the Dem Party when he said, “I cannot guarantee that those (Social Security) checks go out on Aug. 3 if we haven't resolved this issue”

But according to the SSA, we learn that the investments in the fund are redeemed to pay benefits

"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."

Trust Fund FAQs

Why did Obama lie about the Trust Fund?

 

[hellofromwarsaw]

He didn't, Rush/Foxbot.

 

[CrusaderFrank]

He didn't, Rush/Foxbot.

Where did I go wrong?

 

[AmericanFirst]

He didn't, Rush/Foxbot.

He did idiot leftwing socialist whore.

 

[AmericanFirst]

He didn't, Rush/Foxbot.

He did idiot leftwing socialist whore.

As he does all the time, like you.

 

[WillowTree]

What hasn't he lied about? Seriously?

 

[WillowTree]

dimocrats are hot on the airwaves this am with their buzzwords.. "hostage" "extreme" "kill medicare" "compromise" f















boo fucking hooooo

 

[uscitizen]

Obama recently had a Community Agitator moment. It seems he forgot he was POTUS and thought he was knocking on doors in Chicago to rile up the legions of Mindless zombies that make up the Dem Party when he said, “I cannot guarantee that those (Social Security) checks go out on Aug. 3 if we haven't resolved this issue”

But according to the SSA, we learn that the investments in the fund are redeemed to pay benefits

"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."

Trust Fund FAQs

Why did Obama lie about the Trust Fund?

Umm and where do you think those funds to redeem the trust funds come from?

 

[Soggy in NOLA]

Obama recently had a Community Agitator moment. It seems he forgot he was POTUS and thought he was knocking on doors in Chicago to rile up the legions of Mindless zombies that make up the Dem Party when he said, “I cannot guarantee that those (Social Security) checks go out on Aug. 3 if we haven't resolved this issue”

But according to the SSA, we learn that the investments in the fund are redeemed to pay benefits

"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."

Trust Fund FAQs

Why did Obama lie about the Trust Fund?

Umm and where do you think those funds to redeem the trust funds come from?

Printing presses and/or the Chinese.

 

[uscitizen]

Yes and over debt ceiling limit.

 

[flacaltenn]

He didn't, Rush/Foxbot.

Where did I go wrong?

Sorry Crusader.. But this time you're slightly off.

First off -- It's the GOP that's in denial here about the effects of playing chicken with the debt ceiling.. Of course, there's no immediate default.. What there WILL BE is a stack of unpaid OTHER bills.. Like Border Patrol, Forest Service, FAA, ect... Instead of being perpetual FEAR-Mongerers, they've turned into COMPLACENCY-Mongerers..

And you're wrong about the Social Soc "trust fund".. Those bonds are not public issue Treas bonds. They are non-transferable "special issue" bonds. Essentially -- intergovernmental IOUS with NO ZERO NADDA ability to pay ANYTHING... Every penney of Soc Sec checks comes from present Payroll Taxes OR NEW DEBT issued by the Treasury..

The "interest" on these IOUs is a fiction that was created to kick the can further down the road before Soc Sec was OFFICIALLY insolvent..

BTW -- It BECAME insolvent in 2010 -- 6 years ahead of schedule.. Largely because of the economy and the fact that the Pelosi/Reid Stimulus bled a nearly insolvent system into true insolvency by doing the Progressive tax cut on Payroll contributions..

It is NOW -- TODAY officially broken. There is nothing of value in the Trust Fund with which to pay checks that doesn't involve raising MORE debt.. You are gonna get to PAY TWICE for the theft of all that $2Trill SS Surplus that was Robbed..

 

[frazzledgear]

He didn't, Rush/Foxbot.

First bring yourself to read this through keeping in mind whether my use of the word "Democrap" instead of "Democrat" makes you more or less likely to even want to read this and then ask and answer (to yourself) the few questions at the end.

Sure Obama lied -agitating and using scare tactics as a political gimmick is what Democraps do -because a not-so-surprising percent of their own fall for it. Obama was a community organizer and what community organizers do is get people AGITATED. Obama's speech was typical crap coming from a community organizer but it was NOT Presidential in the least and in fact -was a LIE that demeaned him as a man and demeaned the office of President.

Have you NEVER wondered why whenever there are budget choices that must be made Democraps insist the first on the chopping block are always vital and important services? When was the last time you EVER heard a Democrap say first on the chopping block will be those pencil pushing government bureaucratic jobs that seemingly grow out of thin air every year like fungus? Or first on the chopping block will be a bunch of those redundant government agencies that studies have repeatedly shown aren't doing what they were designed to achieve anyway and have been doing nothing but sucking up taxpayer funds like a black hole? Or that first on the chopping block will be truly ridiculous grants like the study trying to find if there is a connection between homosexuality and the size of a man's penis -shit like that where no one would squawk if they disappeared? WHEN did you last hear a Democrap offer ANYTHING like THESE examples to be first on the chopping block? HMMM?

No, they use a tried and true formula of insisting those who will ALWAYS -absolutely ALWAYS -be first on the chopping block are desirable and critical services like cops and firemen and teachers. Every fucking time. For MORONS like you who never question why they do and essentially only exist as their dupes anyway.

Democraps put critical services on the chopping block first to make people SQUEAL and insist OH NO THEY CAN'T BE CUT! Then Democraps respond with "What you don't want cuts? Then we have to raise taxes!" As if that is people's only option -cut vital services ONLY or raise taxes. No such thing as cutting NON-VITAL services as one of their options -not ever on the state level. Threatening to cut only vital services is Democraps' tried and true formula and it is why they put vital services on the block first so people start screaming NO NO. For Democraps -both the stupid ones which are the bulk of them anyway and the manipulators like Obama, Reid and Pelosi -there are NEVER any other places to look to chop EXCEPT these vital services. You hear nothing but crickets when someone says "What about cutting non-vital services first, huh? Ever think about THAT you Democraps who will always put the best interests of their party before that of the nation?"

So really is it a big surprise when our Community Service Agitator-in-Chief tried to do the very same thing by suggesting the elderly and active duty military would be FIRST UP on the chopping block if no budget deal is reached? Of course not -these tactics WORK on the state level and Obama used these tactics himself as a community organizer and as a state legislator. It is why Democraps do it and it is undoubtedly why Obama tried to do it here too.

But in spite of the predictable stunt, interest on the debt will be paid, Social Security checks and military pay will continue without interruption. Obama does NOT have any power to actually carry out his threat of stopping Social Security checks -so he LIED when he suggested they would be stopped! No party has the authority to just arbitrarily decide what gets paid first and will be put on hold. THAT issue is already a done deal regardless of which party controls Congress or the White House.

Unlike the state level where Democraps can more easily insure their efforts to carry out their threats of harming the people of their state by always cutting critical and important services first instead of redundant and non-vital services WILL be carried out -it won't work that way on the federal level. It will be NON-CRITICAL services that shut down first-always. Government takes in enough monthly revenue to pay what must be paid and will NOT shut down -interest on debt, entitlements and military pay. Did you know when federal government shut down for a couple of weeks (all except vital services) under Clinton, it saved government millions in their budget and was actually beneficial? And the sky didn't fall down either!

If Obama wants to stop Social Security checks -he has to get a bill before Congress and THEN get every fucking Democrap in the Senate AND the House along with a significant percentage of Republicans in the House -to OPENLY vote on a bill that will specifically stop those checks! Remember Obama's budget proposal in May? Remember how he couldn't get one Democrat to support it in the Senate and the entire Senate rejected it 97-0? I can't remember that ever happening to any previous President -I've seen their budgets rejected but I have NEVER seen one go down with zero support even from his own party! How humiliating. So what do you REALLY think the odds are that he can get all Democraps and quite a few House Republicans to openly cast a vote to specifically stop Social Security checks? ROFL He knew when it came out of his mouth those checks were NOT going to stop -so what was the REAL point of suggesting they might? Critical and vital services are NEVER going to be first up on the chopping block on the federal level. NOT EVER. If Democraps want Social Security checks to stop in order to scare people -THEY have to VOTE to do it -PUBLICLY. This insures neither party gets to carry out their threats to harm the public good behind closed doors -if they want to harm the elderly because they think there is political gain to be found doing so -they MUST do it PUBLICLY. So which Congressional Democraps do you think are willing to commit political suicide by either sponsoring or casting a vote to stop all Social Security checks to the elderly? HMMM?

So the first poster was right -Obama LIED when he suggested Social Security checks and military pay might not be paid! So what was the POINT? The point was the same one Democraps use on every other level of government where it is far more effective and they CAN carry out their threats. THIS is nothing but the typical fear tactic of Democraps and Obama simply hoped using it here to scare the elderly would result in them contacting their Congressperson and SQUEAL like the stuck pig he really would make them if he actually had the authority to do it. Have NO doubt that if he did have the power to do -he would NOT have hesitated to cut off Social Security checks and simply claimed he had no choice and was forced to do it -by Republicans of course. But unlike where they can often get away with that on the state level it can't happen here -because to stop those checks requires a PUBLIC VOTE in Congress to actually do that. No Congressional Democraps are interested in committing political suicide because with an open vote, they know voters will know EXACTLY whom to blame for it! So thankfully for the entire nation - THIS is not something elected politicians get to manipulate behind closed doors for their own political gain while claiming the other side is actually responsible for it. Obama absolutely KNEW it would never happen -so telling people those checks were at a real risk of not going out and active duty military personnel at a real risk of not getting paid -was indeed a LIE. It was a lie told for the specific purpose of trying to MANIPULATE people like the stupid cows Democraps believe people are anyway.

During one of his last speeches Obama implored people to contact their Congressperson and pretty much demand they go with Obama's idea of a addressing the out of control spending spree of Congress -with accounting gimmicks, higher taxes and an increase in spending that even goes above those taxes. He got people to contact their Congressperson alright -the switchboard reported being flooded with calls from all over the country. But by a 3-1 margin they were calls demanding their Congressperson CUT spending and NOT raise taxes and hold firm on NOT caving on this.

When you couldn't bring yourself to use the correct word and just had to type an insult for their name instead as you did both to the original poster and in your signature -it only said something about YOU and nothing about Republicans. It showed you are in fact a hardcore IDEOLOGUE. Ideologues' beliefs are not grounded in reality and they are not reachable by FACTS or REASON. Facts and reason are disconnected from the way an ideologue even perceives the world and are in fact UNREASONABLE people. Only an ideologue believes using an insult label for all political opponents is a "brilliant" tool -seriously. Everyone else knows its childish and more fitting on a schoolyard than a political debate. I could have typed Democrat just as easily as I did Democrap but I didn't in order to make a point about people like you.

Did you find my use of "Democrap" instead of "Democrat" to add ANYTHING persuasive to my argument? Did it make you MORE or LESS likely to even want to read what I was really discussing? Did it make you MORE or LESS likely to even consider anything I said? So who did you really write your own response for? Ideologues like you whose own thinking is also disconnected from facts and reality anyway and think merely responding with an insult is actually a "brilliant" argument and totally won the debate? No one but yourself and didn't care if anyone read it at all regardless? Or did you write it for those you wanted to persuade your own argument was superior and are just so stupid you actually believe calling your opponents insulting names is an effective tool of persuasion?

 

[Mr. Jones]

Remember, Social Security is not "unfunded" nor is it an "entitlement." That is YOUR money in that trust fund. You worked for it, and it was taken out of all your paychecks your entire working life.

The Social Security Trust fund invested your money by loaning it to the US Government, which is the largest single holder of US Government debt. But the US Government is already in default in fact, as the actual tax revenues have not even come close to the projections on which the budgets were drawn up.

So the US Government has looked at all the entities they owe money to and decided that stiffing the American people is the least likely to cause them harm. They will pay the bankers and they will pay foreign nations and they will continue to bail out Wall Street for the mortgage-backed securities fraud by embezzling your retirement money you gave them in trust. The US Government is robbing you to save the private central bank, whether it is by increasing taxes, or cutting social programs. -Rivero
The bottom line is the damned system our economy is built upon.

I agree that all the threats and grandstanding is pure political BS, and that if they were to stop paying SS checks, a rebellion would ensue. Think of how many people this would effect?? Even those that are not receiving SS checks would be affected, IF they depended on someone who IS to pay their mortgage or rent, utilities etc..It would have a domino effect that would lead to chaos.
Sadly, sometimes I think this is exactly what is needed to oust the current corrupt monetary system.

 

[CrusaderFrank]

Obama recently had a Community Agitator moment. It seems he forgot he was POTUS and thought he was knocking on doors in Chicago to rile up the legions of Mindless zombies that make up the Dem Party when he said, “I cannot guarantee that those (Social Security) checks go out on Aug. 3 if we haven't resolved this issue”

But according to the SSA, we learn that the investments in the fund are redeemed to pay benefits

"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."

Trust Fund FAQs

Why did Obama lie about the Trust Fund?

Umm and where do you think those funds to redeem the trust funds come from?

Please share your thoughts on this with me. Do you mean to say that the proceeds come from sale of these securities?

If we have over $2T in securities why didn't Obama say not to worry about SocSec because we could just sell the securities?

 

[CrusaderFrank]

He didn't, Rush/Foxbot.

Where did I go wrong?

Sorry Crusader.. But this time you're slightly off.

First off -- It's the GOP that's in denial here about the effects of playing chicken with the debt ceiling.. Of course, there's no immediate default.. What there WILL BE is a stack of unpaid OTHER bills.. Like Border Patrol, Forest Service, FAA, ect... Instead of being perpetual FEAR-Mongerers, they've turned into COMPLACENCY-Mongerers..

And you're wrong about the Social Soc "trust fund".. Those bonds are not public issue Treas bonds. They are non-transferable "special issue" bonds. Essentially -- intergovernmental IOUS with NO ZERO NADDA ability to pay ANYTHING... Every penney of Soc Sec checks comes from present Payroll Taxes OR NEW DEBT issued by the Treasury..

The "interest" on these IOUs is a fiction that was created to kick the can further down the road before Soc Sec was OFFICIALLY insolvent..

BTW -- It BECAME insolvent in 2010 -- 6 years ahead of schedule.. Largely because of the economy and the fact that the Pelosi/Reid Stimulus bled a nearly insolvent system into true insolvency by doing the Progressive tax cut on Payroll contributions..

It is NOW -- TODAY officially broken. There is nothing of value in the Trust Fund with which to pay checks that doesn't involve raising MORE debt.. You are gonna get to PAY TWICE for the theft of all that $2Trill SS Surplus that was Robbed..

^ THIS!

Please read this then reread it.

We are so totally broke

We are so totally fucked

Please educate yourself on how SocSecurity makes Bernie Madoff look ethical

 

[CrusaderFrank]

He didn't, Rush/Foxbot.

Where did I go wrong?

Sorry Crusader.. But this time you're slightly off.

First off -- It's the GOP that's in denial here about the effects of playing chicken with the debt ceiling.. Of course, there's no immediate default.. What there WILL BE is a stack of unpaid OTHER bills.. Like Border Patrol, Forest Service, FAA, ect... Instead of being perpetual FEAR-Mongerers, they've turned into COMPLACENCY-Mongerers..

And you're wrong about the Social Soc "trust fund".. Those bonds are not public issue Treas bonds. They are non-transferable "special issue" bonds. Essentially -- intergovernmental IOUS with NO ZERO NADDA ability to pay ANYTHING... Every penney of Soc Sec checks comes from present Payroll Taxes OR NEW DEBT issued by the Treasury..

The "interest" on these IOUs is a fiction that was created to kick the can further down the road before Soc Sec was OFFICIALLY insolvent..

BTW -- It BECAME insolvent in 2010 -- 6 years ahead of schedule.. Largely because of the economy and the fact that the Pelosi/Reid Stimulus bled a nearly insolvent system into true insolvency by doing the Progressive tax cut on Payroll contributions..

It is NOW -- TODAY officially broken. There is nothing of value in the Trust Fund with which to pay checks that doesn't involve raising MORE debt.. You are gonna get to PAY TWICE for the theft of all that $2Trill SS Surplus that was Robbed..

Bump because its THAT important.

Social Security has been Madoffed

 

[Seawytch]

Saying there is a threat is not the same as threatening. Pointing out the shark in the water is not the same as putting the shark in the water and then pissing it off.

Statement: Social Security and other federal checks may not go out on Aug. 3 if the debt ceiling is not increased.
By: Barack Obama
Ruling: Half-True

http://www.politifact.com/truth-o-m...-obama-said-social-security-and-other-federa/

 

[hellofromwarsaw]

British Chancellor of the Exchequer: The biggest danger to the world economy is a bunch of RW fanatics in congress..."

McCain- "Ditto!!"

Elitist mega rich STUPID Pubs, silly Pub Dupes- screwing up the world for 100 years...

 

[CrusaderFrank]

British Chancellor of the Exchequer: The biggest danger to the world economy is a bunch of RW fanatics in congress..."

McCain- "Ditto!!"

Elitist mega rich STUPID Pubs, silly Pub Dupes- screwing up the world for 100 years...

Topic: Here

hellofromwarsaw:

See the problem?

 

[CrusaderFrank]

Saying there is a threat is not the same as threatening. Pointing out the shark in the water is not the same as putting the shark in the water and then pissing it off.

Statement: Social Security and other federal checks may not go out on Aug. 3 if the debt ceiling is not increased.
By: Barack Obama
Ruling: Half-True

PolitiFact | Barack Obama said Social Security and other federal checks may not go out on Aug. 3 if the debt ceiling is not increased

"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