The Last Demagoguery of the Democrats

[CrusaderFrank]

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

 

[daveman]

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


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.

 

[DontBeStupid]

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

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

 

[daveman]

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

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

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

 

[Antiderivative]

Right wingers have been crying about SS all day. This is priceless.

 

[pete]

If he would stop his corrupt ways maybe there would be some left ... » BREAKING: It Turns Out Obama Gave ACORN $541K This Year, Not $80K - Big Government

 

[smalltime]

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.

 

[Toro]

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

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.

 

[Toro]

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


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.

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.

 

[The Rabbi]

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

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.

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.

 

[The Rabbi]

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


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.

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.

The Democrats wanted 4 trillion in tax increases but were willing to settle for 1Trillion. That isn't compromising. That's playing games. The Dems are not serious about deficit reduction or tax reform or entitlement reform or anything else that desperately needs fixing. They have not floated a single serious proposal. Hell, they havent passed a budget in forever.

 

[Toro]

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.

Treasury bonds are worthless too if the government decides not to pay it back. Same thing.

 

[Toro]

The Democrats wanted 4 trillion in tax increases but were willing to settle for 1Trillion. That isn't compromising. That's playing games. The Dems are not serious about deficit reduction or tax reform or entitlement reform or anything else that desperately needs fixing. They have not floated a single serious proposal. Hell, they havent passed a budget in forever.

Then let them fight it out in 2012.

In the mean time, this game of chicken is beyond fucking insane. Raise the debt limit and avoid risking a potential catastrophe.

 

[daveman]

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


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.

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.

Then I was right.

 

[8537]

you can't sell the assets of the SS fund to investors. But I think Frank knows that...

 

[8537]

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

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.

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.

Nothing in President Bush's SS "reform" package made the trust more solvent. Quite the opposite, in fact - his plan would have required over a trillion dollars in additional borrowing.

 

[Robert]

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


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.

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.

the Democrats were willing to give up 75%-85% of the thing they believed in to fix the deficit

LMAO!! Where the hell did you pull that from? the left has no interest in fixing the Deficit the Left is interested in kicking the can down the road and leave it for someone else to deal with remember that billion dollar adjustment that turned into a 300 million dollar adjustment ya that was the left "caring" about the Deficit.