‘Social Security is Structurally Sound;’ Trustees: ‘Unfunded Obligation Is $8.6T'

[CrusaderFrank]

Ahhh...

"Full faith and credit" = "We'll see to it that you get every dime coming to you, even if we have to tax you out of your home or inflate the currency to complete worthlessness to do so".

I'm sooooooo relieved.

Well...that's better than if you'd invested in such great, honest, straight-forward and dependable corporations as Enron or Lehman Brothers.

But, of course, corporations are always better than the government....right?

Only almost always, not always

 

[Oddball]

Ahhh...

"Full faith and credit" = "We'll see to it that you get every dime coming to you, even if we have to tax you out of your home or inflate the currency to complete worthlessness to do so".

I'm sooooooo relieved.

Well...that's better than if you'd invested in such great, honest, straight-forward and dependable corporations as Enron or Lehman Brothers.

But, of course, corporations are always better than the government....right?

I'd be better off burying my money in mason jars in my back yard.

Oh, and Lehman Bros. and Enron don't (or didn't, such as it is) make up so much as .1% of the total market...But you already don't care to know what a straw man argument is, so I don't expect that little nugget of fact to get through.

 

[Clementine]

What this means is raising taxes again, which is always their response.

We'll have the health care tax, too, which will already be enough to push people over the edge.

 

[Oldguy]

Social SEcurity currently owns $2,500,000,000 worth of government bonds.

Its not in bad shape right now.

It might get into problems if nothing is done in the next decade or so, though, that is true.

If the economy improves, then SS will continue to be solvent until about 2050 or so..

SocSecurity is in worse shape that a Bernie Madoff Investment

Obama told us it was broke and owned no assets back in August 2010.

"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,"

Obama says he cannot guarantee Social Security checks will go out on August 3 - Political Hotsheet - CBS News

That was politics, just like the GOP's threat of a government "default" over a spending bill, which was what precipitated the President's remark.

When both sides are playing brinkmanship, don't pay any attention to it. Neither one will actually do it.

 

[Oldguy]

Ahhh...

"Full faith and credit" = "We'll see to it that you get every dime coming to you, even if we have to tax you out of your home or inflate the currency to complete worthlessness to do so".

I'm sooooooo relieved.

Well...that's better than if you'd invested in such great, honest, straight-forward and dependable corporations as Enron or Lehman Brothers.

But, of course, corporations are always better than the government....right?

I'd be better off burying my money in mason jars in my back yard.

Oh, and Lehman Bros. and Enron don't (or didn't, such as it is) make up so much as .1% of the total market...But you already don't care to know what a straw man argument is, so I don't expect that little nugget of fact to get through.

It's interesting that anything you can't defend, you just call it a "straw man" argument and then quit.

 

[Oddball]

Face it...You're in waaaayyyyy over you pay grade, Old Dude.

 

[Oldguy]

Face it...You're in waaaayyyyy over you pay grade, Old Dude.

Maybe so, but when I make a comment I can back it up. That puts me way ahead of you.

 

[kaz]

Pay particular attention to the assumptions they make about projected income, inflation, energy costs, wages etc over the next 75 years, assumptions upon which they base their projections.

Here's the first thing they got wrong. They think there is a social security trust fund. There is no trust fund, the government spent it. Right there you know the report is crap. Government writing down how much money it spent and didn't save could only be considered an asset by a moron.

 

[kaz]

Face it...You're in waaaayyyyy over you pay grade, Old Dude.

Maybe so, but when I make a comment I can back it up. That puts me way ahead of you.

Maybe you can, but it would be more impressive if you actually did...

 

[Oddball]

Face it...You're in waaaayyyyy over you pay grade, Old Dude.

Maybe so, but when I make a comment I can back it up. That puts me way ahead of you.

Your refusal to learn and comprehend even the most basic of logical fallacies is not my problem.

Oh, and I'm not the only one here who can recognize straw men and other fallacious reasoning...So, if you don't want to have your straw man arguments identified and discounted for what they are, it would behoove you to open up another tab and Google "logical fallacies".

Here, I'll even give you a little boost....Logical Fallacies and the Art of Debate

 

[Oldguy]

Face it...You're in waaaayyyyy over you pay grade, Old Dude.

Maybe so, but when I make a comment I can back it up. That puts me way ahead of you.

Your refusal to learn and comprehend even the most basic of logical fallacies is not my problem.

Oh, and I'm not the only one here who can recognize straw men and other fallacious reasoning...So, if you don't want to have your straw man arguments identified and discounted for what they are, it would behoove you to open up another tab and Google "logical fallacies".

Here, I'll even give you a little boost....Logical Fallacies and the Art of Debate

First, prove to me that the story I linked to IS a straw man argument. Make your case. I dare you.

 

[Oddball]

Wow...You really are dense, aren't you?

I said nothing about the story, but your implication that companies like Enron and Lehman Bros. were adequate indicators of the market as a whole, as a way to poo-poo private investing of one's money...Which is total bullshit and a classic straw man argument.

 

[kaz]

Maybe so, but when I make a comment I can back it up. That puts me way ahead of you.

Your refusal to learn and comprehend even the most basic of logical fallacies is not my problem.

Oh, and I'm not the only one here who can recognize straw men and other fallacious reasoning...So, if you don't want to have your straw man arguments identified and discounted for what they are, it would behoove you to open up another tab and Google "logical fallacies".

Here, I'll even give you a little boost....Logical Fallacies and the Art of Debate

First, prove to me that the story I linked to IS a straw man argument. Make your case. I dare you.

Watching you twist and squirm at the end of oddball's wit is just hilarious. I'd have thought by now you'd take up his offer to learn what a strawman fallacy is so you didn't look like such a fool. If what you had said were not a strawman fallacy, and if you understood what he's saying, you would not give the response you are giving. Thereby proving you don't understand what he's saying. Carry on.

 

[Amazed]

Technically of course, why not?

Because the government can simply put more money into circulation or, as it's commonly referred to, "print more money." It can't default on its obligations. It may pay those obligations off in horribly inflated money, (which would be a REAL boon to the taxpayers!), but it will pay them off.

Too funny......

...and what happens when the Gov prints money and dumps it into circulation?
This is too easy.

 

[Full-Auto]

Obama: ‘Social Security is Structurally Sound;’ Trustees: ‘Unfunded Obligation … Is $8.6T'


President Barack Obama said in Wednesday night’s presidential debate that Social Security is “structurally sound,” but Social Security’s Board of Trustees said in their 2012 annual report that the program faced $8.6 trillion in “unfunded obligations”--meaning that it is currently obligated to pay out $8.6 trillion more in benefits than it is anticipated to bring in through taxes.

However, in their annual report published on April 25, the Social Security Trustees said that program not only faces $8.6 trillion in unfunded obligations but that the situation became dramatically worse over the previous year.

The trustees point out that a major legislative change that increased the unfunded obligation of Social Security was the cut in the Social Security payroll tax that had been advocated by President Obama. This payroll tax funds the Social Security program.

SS is broke and a ponzi scheme.


If you dont increase the debt ceiling I can not guarantee the checks will go out.


Go ahead lefties tell us of the trillions in cash...Go ahead. Use that feeble brain for a change.....

 

[Amazed]

It is actually scary that people think like Old Guy....."hell with it, print more."