Romney Called Social Security "Criminal Fraud"

[Sallow]

This is getting better and better. Republicans are writting the Democratic campaign for them!

be careful, younger americans know social security is very broken and many, like myself, have been saving for years in anticipation that the program wont be there.

These comments, while not completely accurate descriptions, do strike at the heart of this problem which is that under the status quo the system won't be there for many americans.

They can call it a purple people eater for all I care as long as they acknowledge there is a problem and are offering real solutions, not rhetoric, to fix it.

Except it's not broken.

 

[Sallow]

Sallow you are the lone voice in the wilderness on this one

That's fine..

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[PLYMCO_PILGRIM]

This is getting better and better. Republicans are writting the Democratic campaign for them!

be careful, younger americans know social security is very broken and many, like myself, have been saving for years in anticipation that the program wont be there.

These comments, while not completely accurate descriptions, do strike at the heart of this problem which is that under the status quo the system won't be there for many americans.

They can call it a purple people eater for all I care as long as they acknowledge there is a problem and are offering real solutions, not rhetoric, to fix it.

Except it's not broken.

If we do zero to change the system will there still be money to make full payments to everyone in 20 years under the status quo?

I think the system runs out of money, from projections, if unchanged within the next 15 years Medicare and Social Security Will Run Out Sooner Than Thought - ABC News

 

[Intense]

This won't save Obama.

Obama is his own worst enemy.

Knock off the hate speech, you rabid right wing whackjob.

I'm utterly Shocked!!! Rudderless.

Thank You for rescuing me. I intend to sign Power of Attorney over to Barry Immediately. He is the only one that can save us. Never Ending Story, right.

 

[Intense]

Sallow you are the lone voice in the wilderness on this one

That's fine..

[ame=http://www.youtube.com/watch?v=vvv4o4cp3f8]Chinese Connection- Dojo Fight (English Dub) - YouTube[/ame]

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[JoeB131]

How is it possible for you to be so far off base on this? Perry calls it a Ponzi scheme because of the way it was set up. BTW, it is not a Ponzi scheme, it is pay as you go. What Romney referred to as being criminal is not the way SS is administered; it's the fact that every Congressman, Senator, and President since Reagan has been complicit in raiding the surpluses from the fund to use for general expenditures, and therefore passing the cost down the line.

Actually, the BS with using SSI surpluses to cover General Fund deficits goes a lot further back than Reagan.

The thing is, Social Security was never sold as "Pay as you go". It was set up as, "There will be this big account marked Joe B. when Joe B. retires,", which is bullshit.

Also, the money was not used to "fund" these things. It was invested in government bonds, that will have to be paid back at some point. Not quite the same thing. So if anyone is being less than honest, it's the guy who thinks he's wearing magic underpants.

 

[JoeB131]

So why doesn't he take the kinds of heat that Perry is taking for saying "Ponzi Scheme".


Romney: Social Security Is Like a Criminal Fraud - By Andrew C. McCarthy - The Corner - National Review Online

n his book “No Apology: The Case For American Greatness”, which was published just last year, Romney compared those managing Social Security to criminals, saying:



“Let’s look at what would happen if someone in the private sector did a similar thing. Suppose two grandparents created a trust fund, appointed a bank as trustee, and instructed the bank to invest the proceeds of the trust fund so as to provide for their grandchildren’s education. Suppose further that the bank used the proceeds for its own purposes, so that when the grandchildren turned eighteen, there was no money for them to go to college. What would happen to the bankers responsible for misusing the money? They would go to jail. But what has happened to the people responsible for the looming bankruptcy of Social Security? They keep returning to Congress every two years.”

.

Except that, from your own quote, he did not call SS criminal fraud. He called what the government did with the funds paid into the fund 'criminal fraud' and, personally, I agree with him.

idiot.

well, of course you do.

I'm just wondering what Magic Underpants thinks should have been done with that money. Put it in the Stock market? How many times has THAT crashed in the last 30 years? Put it in the Banks? We've only had to bail them out a few times.

Converting it to bonds was probably the SAFEST thing to be done, since those never go bad. (At least, not until Obama came along.)

 

[California Girl]

So why doesn't he take the kinds of heat that Perry is taking for saying "Ponzi Scheme".


Romney: Social Security Is Like a Criminal Fraud - By Andrew C. McCarthy - The Corner - National Review Online




.

Except that, from your own quote, he did not call SS criminal fraud. He called what the government did with the funds paid into the fund 'criminal fraud' and, personally, I agree with him.

idiot.

well, of course you do.

I'm just wondering what Magic Underpants thinks should have been done with that money. Put it in the Stock market? How many times has THAT crashed in the last 30 years? Put it in the Banks? We've only had to bail them out a few times.

Converting it to bonds was probably the SAFEST thing to be done, since those never go bad. (At least, not until Obama came along.)

That is not what you were wondering. You accused Romney of saying something he did not say. Simple fact... you were wrong. What you said was stupid. That money was to be paid to those who paid in. To take that money and spend it was theft. Pure and simple. Fraud from our own government.

 

[uscitizen]

Slight correction to title:
Romney called the spending of the SS trust fund criminal fraud.

 

[MiddleClass]

So why doesn't he take the kinds of heat that Perry is taking for saying "Ponzi Scheme".

If Romney were the only one lambasting Perry for his stupid comment about S.S., that he would get as much attention as Perry. However, virtually everyone thinks Perry's ridiculous Ponzi Scheme comment will be his final failing with the American People

 

[Vanquish]

Perry was just riding the wave of what a large number of conservatives were saying right before he said it. It got him a lot of traction...at first. Then the realization that it was ridiculous set in. Now people want to distance themselves. That's how a lot of political comments arise.

Here's the problem with Romney's comment that the way SS is administered is tantamount to fraud - if it really WERE fraud or illegal or not within Congress' power...then some stink would have arisen. It never has...until someone now wants to make it a political football. Yet another thing Reagan did that no one wants to fess up to doing.

 

[flacaltenn]

Perry was just riding the wave of what a large number of conservatives were saying right before he said it. It got him a lot of traction...at first. Then the realization that it was ridiculous set in. Now people want to distance themselves. That's how a lot of political comments arise.

Here's the problem with Romney's comment that the way SS is administered is tantamount to fraud - if it really WERE fraud or illegal or not within Congress' power...then some stink would have arisen. It never has...until someone now wants to make it a political football. Yet another thing Reagan did that no one wants to fess up to doing.

Enest Hollings (D, SC)

"…the most reprehensible fraud in this great jambalaya of frauds is the systematic and total ransacking of the Social Security trust fund…in the next century…the American people will wake up to the reality that those IOUs in the trust fund vault are a 21st century version of Confederate bank notes."

Harry Reid (D, Nev)

The discussion is are we as a country violating a trust by spending Social Security trust fund money’s for some purpose other than for which they were intended. The obvious answer is yes…On that chart in emblazoned red letters is what has been taking place here, embezzlement. During the period of growth we have had during the past 10 years, the growth has been from two sources. One, a large credit card with no limits on it, and, two, we have been stealing money from the Social Security recipients of this country.

Where have YOU been "centrist"?? PLENTY of the clowns in charge have called it fraud, embezzlement, ransacking, mismanagement. You think the majority of us who realize that NOTHING about SS is guaranteed and that the Trust Fund is a slick fiction are just making this up? Think Romney/Perry INVENTED a new conspiracy?

The politicians don't touch the topic largely because of the monstrous cover-up OF the theft and fraud.. We will be paying TWICE with interest and financing charges for all those FICA funds that were stolen..

 

[Maple]

Perry was just riding the wave of what a large number of conservatives were saying right before he said it. It got him a lot of traction...at first. Then the realization that it was ridiculous set in. Now people want to distance themselves. That's how a lot of political comments arise.

Here's the problem with Romney's comment that the way SS is administered is tantamount to fraud - if it really WERE fraud or illegal or not within Congress' power...then some stink would have arisen. It never has...until someone now wants to make it a political football. Yet another thing Reagan did that no one wants to fess up to doing.

Mitt stated it correctly, I read his book, " No apology," the government takes from SSI to go and pay for everything and anything else, that practice is what he calls criminal, not the social security system. Read the book and learn something.

 

[JoeB131]

That is not what you were wondering. You accused Romney of saying something he did not say. Simple fact... you were wrong. What you said was stupid. That money was to be paid to those who paid in. To take that money and spend it was theft. Pure and simple. Fraud from our own government.

One guy called it Criminal Fraud, the other guy called it a Ponzi Scheme.

I think both are pretty accurate descriptions.

I don't fault Romney for his description, mostly.

I fault him for making hysterical comments about "OH MY GOD HE SAID PONZI SCHEME" when he said things that were just as inflammetory....

 

[JoeB131]

Perry was just riding the wave of what a large number of conservatives were saying right before he said it. It got him a lot of traction...at first. Then the realization that it was ridiculous set in. Now people want to distance themselves. That's how a lot of political comments arise.

Here's the problem with Romney's comment that the way SS is administered is tantamount to fraud - if it really WERE fraud or illegal or not within Congress' power...then some stink would have arisen. It never has...until someone now wants to make it a political football. Yet another thing Reagan did that no one wants to fess up to doing.

Mitt stated it correctly, I read his book, " No apology," the government takes from SSI to go and pay for everything and anything else, that practice is what he calls criminal, not the social security system. Read the book and learn something.

I try to avoid reading anything written by Mormons... or their ghostwriters.

Actually, calling Social Security a "Ponzi Scheme" is an insult to Ponzi Schemes. At least, with a Ponzi scheme, you have the option of getting out.