Social Security to Start Cashing Uncle Sam's IOUs

Discussion in 'Economy' started by proletarian, Mar 15, 2010.

  1. ☭proletarian☭
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    ☭proletarian☭ Guest

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    FOXNews.com - Social Security to Start Cashing Uncle Sam's IOUs
     
  2. RetiredGySgt
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    RetiredGySgt Platinum Member

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    And just WHERE will the Government get the money from?
     
  3. elvis
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    elvis BANNED Supporting Member

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    just print more money?
     
  4. Annie
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    Annie Diamond Member

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    Well if the Dems are able to pass health care as they are determined to do, they won't start paying out on that for 4 years, but will collect right away. Perhaps they will lend SSI some of that? Out of the 'lock box.'
     
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  5. chanel
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    chanel Silver Member

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    Ha ha. Extra money for seniors? That money will most likely go to:

    Sec. 103. Investment in historically Black colleges and universities and other
    minority-serving institutions.

    Sec. 208. Loan repayment for civil legal assistance attorneys.

    CHAPTER1—GRANTS FOR MODERNIZATION, RENOVATION, O REPAIR OF PUBLICSCHOOLFACILITIES

    CHAPTER2—SUPPLEMENTAL GRANTS FOR LOUISIANA, MISSISSIPPI, AND ALABAMA

    TITLE IV—EARLY LEARNING CHALLENGE FUND

    Sec. 503. Grants to eligible entities for community college reform.

    http://www.usmessageboard.com/polit...llege-school-construction-early-learning.html

    Of course anyone who challenges WHY this is part of the HC bill must be racist, anti-education, and hate babies. :cool:
     
  6. Gatekeeper
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    Gatekeeper Senior Member

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    That old IRS joke for a Short Form......

    How much you got?

    Send it ALL IN
    ....... may not be a joke after all. :lol:
     
  7. chanel
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    chanel Silver Member

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    Gee I wonder if they've considered how amnesty for illegals might drain the SSA.

    We need to get our fiscal house in order before ANY new entitlements are even proposed. (Yeah right)
     
  8. Old Rocks
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    Old Rocks Diamond Member

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    Apply the 6.2% that I pay out of my paycheck to all income, period. Problem solved.
     
  9. ☭proletarian☭
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    I always suspected you didn't know how to read.

     
  10. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The timing on this is Just Great!

    Moody's is considering downgrading the U.S."

    The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moody’s Investors Service.

    The governments of the two economies must balance bringing down their debt burdens without damaging growth by removing fiscal stimulus too quickly, Pierre Cailleteau, managing director of sovereign risk at Moody’s in London, said in a telephone interview.

    Under the ratings company’s so-called baseline scenario, the U.S. will spend more on debt service as a percentage of revenue this year than any other top-rated country except the U.K., and will be the biggest spender from 2011 to 2013, Moody’s said today in a report.

    “We expect the situation to further deteriorate in terms of the key ratings metrics before they start stabilizing,” Cailleteau said. “This story is not going to stop at the end of the year. There is inertia in the deterioration of credit metrics.”

    The pound fell against the dollar and the euro for the first time in three days, depreciating 0.8 percent to $1.5090, while the dollar index snapped a four-day drop, adding 0.3 percent to 90.075.

    The U.S. government will spend about 7 percent of its revenue servicing debt in 2010 and almost 11 percent in 2013, according to the baseline scenario of moderate economic recovery, fiscal adjustments in line with government plans and a gradual increase in interest rates, Moody’s said. ...


    U.S., U.K. Move Closer to Losing Rating, Moody?s Says (Update1) - Bloomberg.com


    So these SS "redemptions" are going to be covered with more expensive debt, rendering the Obama budget even more fictitious.
     

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