When Did We First Start Looting Social Security?

[Dick Tuck]

Government bonds are just worthless I.O.U.s when they are used to cover government obligations.

Government bonds are a legally incurred debt, that our Constitution requires be payed. Failure to pay bonds when due would result in default.

Yeah...And they'll pay it all back if it means inflating the currency to the level of Zimbabwe, in order to see to it that you get your Socialist Insecurity check!

Not paying legally incurred debt would result in default. Default would bring our currency closer to the level of Zimbabwe.

 

[Oddball]

You really don't know jack shit about fiat currency, do you?

 

[bripat9643]

So he covered the transaction is what you are saying. Good. Was it illegal?

Government bonds are just worthless I.O.U.s when they are used to cover government obligations.

Government bonds are a legally incurred debt, that our Constitution requires be payed. Failure to pay bonds when due would result in default.

You're the one who has to pay them, you stupid cock sucker. How do government bonds in the possession of the government benefit the taxpayer? The government could print $100 trillion worth of bonds tomorrow and stick them in the so-called SS "Trust Fund." Would that make the "Trust Fund" any more solvent?

It boggles my mind to know that some people are so stupid that they believe the government can loan money to itself.

 

[bripat9643]

You're an idiot. That's all you've proven.

 

[Paulie]

Government bonds are just worthless I.O.U.s when they are used to cover government obligations.

Government bonds are a legally incurred debt, that our Constitution requires be payed. Failure to pay bonds when due would result in default.

You're the one who has to pay them, you stupid cock sucker. How do government bonds in the possession of the government benefit the taxpayer? The government could print $100 trillion worth of bonds tomorrow and stick them in the so-called SS "Trust Fund." Would that make the "Trust Fund" any more solvent?

It boggles my mind to know that some people are so stupid that they believe the government can loan money to itself.

Normally the hardcore name calling in political discussions is a turn off, which is saying a lot coming from the likes of me, but in this case stupid cock sucker was pretty much the only route to be taken.

 

[uscitizen]

Of course Reagans raising the withholding much higher than it needed to be raised gave a few trillion extra to loot.

 

[dilloduck]

You mean Social security isn't in a "lock box " ?

Robert Auerbach: The Social Security Lock Box Hoax and the National Debt

 

[uscitizen]

Of course it is not in a lock box. The gummit spends the surplus and issues treasury notes or somesuch for what they spend on other things.
the biggest immediate problem with SS is that most do not want to pay back the surplus they already spent on other things.

 

[bripat9643]

Normally the hardcore name calling in political discussions is a turn off, which is saying a lot coming from the likes of me, but in this case stupid cock sucker was pretty much the only route to be taken.

Some ideas are so stupid that people who defend them deserve to be verbally abused. The idea that there is actual money in the SS "Trust Fund" is one of them.

 

[Dick Tuck]

Government bonds are just worthless I.O.U.s when they are used to cover government obligations.

Government bonds are a legally incurred debt, that our Constitution requires be payed. Failure to pay bonds when due would result in default.

You're the one who has to pay them, you stupid cock sucker. How do government bonds in the possession of the government benefit the taxpayer? The government could print $100 trillion worth of bonds tomorrow and stick them in the so-called SS "Trust Fund." Would that make the "Trust Fund" any more solvent?

It boggles my mind to know that some people are so stupid that they believe the government can loan money to itself.

You have to be one stupid asshole to not understand what would happen if the United States defaulted. No shit I have to pay for it. What really sucks is you wingnut dishonest bitches were too dumb to call Bush out when he wanted to finance a tax cut to the top 1% with debt.

Your intellectual dishonesty is what boggles the mind.

 

[Erand7899]

Seems like it's been going on for decades. Does anyone know when we first started raiding it?

We went to the unified budget in 1965. LBJ used the gimmick to hide the costs of the Vietnam war.

You are quite correct. All of the excess funds from social security taxes have been transfered to the general fund, and spent, every year since social security was instituted. However, up until 1965, the social security budget was kept separate from the general budget. To hide the growing deficits from the Vietnam war and the great society programs, LBJ came up with the unified budget. That allowed the large surplus in the social security budget to make the total deficit look less than it actually was.

 

[dilloduck]

Gore woulda put it in a lock box for us.

 

[freedombecki]

I don't see what there is to be gained by throwing widows and orphans out on their ears. A lot of senior citizens have health problems that preclude them from holding a steady job or any job, for that matter. Others are fully functional. We may be an equal justice society, but genes aren't that just. One person gets dementia, another gets arthritis, another, cancer, and another yet, heart disease, usually someone whose parent or parents died of a heart attack or stroke.

And I have operated under the delusion that my $.062 taken out of my social security for every dollar I earned went into an interest-bearing account.

I retired a couple of years ago, and they've already cut back on my social security account twice. I didn't realize so many exceptions would be made to my contributions after retirement, plus they tax your payments, too.

Thanks, all of you for clearing it up for me. At some point in your life you'd think they'd stop taxing you to death.

 

[freedombecki]

Gore woulda put it in a lock box for us.

Yeah? Well Pelosi would pass a law to give it to her relatives. Wait! She already did that!

 

[dilloduck]

I don't see what there is to be gained by throwing widows and orphans out on their ears. A lot of senior citizens have health problems that preclude them from holding a steady job or any job, for that matter. Others are fully functional. We may be an equal justice society, but genes aren't that just. One person gets dementia, another gets arthritis, another, cancer, and another yet, heart disease, usually someone whose parent or parents died of a heart attack or stroke.

And I have operated under the delusion that my $.062 taken out of my social security for every dollar I earned went into an interest-bearing account.

I retired a couple of years ago, and they've already cut back on my social security account twice. I didn't realize so many exceptions would be made to my contributions after retirement, plus they tax your payments, too.

Thanks, all of you for clearing it up for me. At some point in your life you'd think they'd stop taxing you to death.

Well---on the bright side of things, you don't have to do it all over again.

 

[Clementine]

Seems like it's been going on for decades. Does anyone know when we first started raiding it?

Congress started looting it the day FDR signed the legislation.

So, it was really just a ruse to start a slush fund.

 

[dilloduck]

Seems like it's been going on for decades. Does anyone know when we first started raiding it?

Congress started looting it the day FDR signed the legislation.

So, it was really just a ruse to start a slush fund.

and get votes.

 

[Paulie]

Normally the hardcore name calling in political discussions is a turn off, which is saying a lot coming from the likes of me, but in this case stupid cock sucker was pretty much the only route to be taken.

Some ideas are so stupid that people who defend them deserve to be verbally abused. The idea that there is actual money in the SS "Trust Fund" is one of them.

It's bad enough that people think there's money there. It's even worse that they think Treasuries in lieu of is something to be excited about.

 

[Oddball]

Seems like it's been going on for decades. Does anyone know when we first started raiding it?

Congress started looting it the day FDR signed the legislation.

So, it was really just a ruse to start a slush fund.

Pretty much.

 

[uscitizen]

There is money there unless the US government welches on it's debt to it's own citizens?

It is just that there will be less money to spend on other things like porky projects and wars we do not need anyway.