The Last Demagoguery of the Democrats

Discussion in 'Politics' started by CrusaderFrank, Jul 12, 2011.

  1. CrusaderFrank
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    CrusaderFrank Diamond Member

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    In 2008, Democrats assured us that, "These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis" a short while later they were dead broke bankrupt needing hundreds of billion in new cash and guarantees.

    When Bush43 tried to implement reasonable modest reform in Social Security the Dems demagoged the fuck out it, it was a risky scheme, seniors could trust the government, the stock market was rigged, it was a pay off to Wall Street, etc.

    And now, Obama played the last card, he just told the American people that their worst fears are real: there is nothing in the Social Security Fund; its as broke as Fannie and Freddie but this time its broke in the trillions column.

    He didn't say he would sell the assets of the fund to investors to pay retirees. He said, the fund is broke. Without new borrowing our Seniors will not receive the checks that were backed by a "Trust Fund"

    That's it now, the Democrats have fired their last shell -- and right at American seniors. The Fund really is broke and that's the Last Demagoguery of the Democrats
     
  2. daveman
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    daveman Diamond Member

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    But it's the GOP that's pushing Granny off the cliff. :cuckoo:


    Obama will be excused by the Troo Beleevers. He can do no wrong. This is someone else's fault (and for delicious irony, it will be the fault of the people who have been saying this was coming and have been wanting to fix it).

    Guaranteed.
     
  3. DontBeStupid
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    DontBeStupid Look it up!

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    It's truly amazing how much incorrect information and pure spin you can fit into one post.
     
  4. daveman
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    daveman Diamond Member

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    Then it won't be any trouble for you to correct his errors, will it?
     
  5. Antiderivative
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    Antiderivative BANNED

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    Right wingers have been crying about SS all day. This is priceless.
     
  6. pete
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    pete The food stamp president

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  7. smalltime
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    smalltime Central Scrutinizer

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    I saw the statement by the president. What a lowlife Chicago tool this guy turned out to be.

    He will decide who gets what when the default happens. The media will give him cover, the talking heads will ring their hands.

    I will throw up in my mouth a little.
     
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  8. Toro
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    Toro Diamond Member

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    Wasn't Bush also saying that the financial system was fine, the GSEs were solvent, the economy was healthy, etc.? I don't blame Bush for that one bit. I expect politicians to pump up the economy, even if it sucks.

    I do agree on the demagoguing SS though. Bad mistake. SS should be like a real pension fund investing in stocks, corporate bonds, etc., rather than just nonmarketable government obligations. SS could be fully funded pretty quickly investing in securities other than government bonds. That way, there wouldn't be all this confusion, like in the OP.

    The fund isn't "broke" in the sense that it is insolvent, like Fannie and Freddie for instance. It is more like it is house rich and cash poor. The assets of the fund are claims on the US government, just like Treasury bonds, except that they can't cash them in because they can't sell them.
     
  9. Toro
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    Toro Diamond Member

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    The way I see it, the Democrats were willing to give up 75%-85% of the thing they believed in to fix the deficit whereas the Republicans were willing to give up 0% of what they believed in. When someone comes to the table and says that the only way we'll make a deal is if you give me everything I want, I view that as unreasonable, especially when the other side is willing to give up three quarters. I would think the exact same thing if the Democrats said that spending cuts could only be 0% and nothing more (a few of them are), and the Republicans were saying it should be 75%-85% tax increases and the rest spending cuts. So I blame the Republicans.
     
  10. The Rabbi
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    The Rabbi Diamond Member

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    You mean Bush who tried to get Social Security reform through Congress because SS was running out of money?
    THe fund is broke in the sense that if you have cash in a piggy bank and take it out and leave IOUs when you need that money all you have is a stack of worthless IOUs rather than real assets.
     

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