You haven't lost anything until you sell

[The Rabbi]

Big surprise, the markets aren't responding well to the Obama downgrade.

I do believe you are mistaken. In fact, I know you are mistaken. It is the Republican's downgrade. They get the credit. Obama offered a compromise plan that cut over $4 trillion, but the Republicans didn't want to cut that much.

So the meme now is Obama wanted to cut spending and the GOP was opposed? Yeah, that sounds credible.
It is amazing the spin the left insists on here. The record is clear: The Dems have not passed a budget in over 2years. Obama has not proposed anything resembling a serious plan. His own budget got voted down unanimously in Feb, by a Dem controlled Senate. A deal was struck only when Obama was cut out of the loop.
Fortunately Americans aren't that stupid. It is Obama's and the Democrats' downgrade. It is caused by the incredible increase in spending and debt to GDP. There was no, zero, talk of downgrades while Bush was in office.

 

[saveliberty]

Big surprise, the markets aren't responding well to the Obama downgrade.

I do believe you are mistaken. In fact, I know you are mistaken. It is the Republican's downgrade. They get the credit. Obama offered a compromise plan that cut over $4 trillion, but the Republicans didn't want to cut that much.

How does a plan that raises taxes immediately, but takes 10 years for the spending cuts make sense? Obama played chicken and the country lost.

 

[Dr.House]

Big surprise, the markets aren't responding well to the Obama downgrade.

I do believe you are mistaken. In fact, I know you are mistaken. It is the Republican's downgrade. They get the credit. Obama offered a compromise plan that cut over $4 trillion, but the Republicans didn't want to cut that much.

0bama: The Buck Stops Elsewhere

 

[konradv]

Yeah... Unfortunately.... there are people who retired last week and need to live on what they've saved up through investing. Which is why I am against Privatizing Social Security.

But for those not in that position... you are correct.

Thank God, I'm old enough to have a real pension and wasn't forced into a 401K. The average person will not have enough time, know-how or patience to make the correct moves. That should be left to professionals that know what they're doing.

 

[Immanuel]

Yeah... Unfortunately.... there are people who retired last week and need to live on what they've saved up through investing. Which is why I am against Privatizing Social Security.

But for those not in that position... you are correct.

I hear this so often and I am amazed by it every time I hear it.

It sounds like people that make this kind of statement think that just because someone retired recently that they now have to take all their life savings out of the market when the market falls. Another amazing thing is to think that people that make this kind of a comment seem to believe that a person who is planning on retiring in the near future would be in an aggressive investment strategy. People who are nearing retirement should have long ago moderated their strategy into less volatile investments so that they are not hurt by these kinds of short term corrections.

I truly do not expect this to be a long term drop.

Immie

 

[editec]

Except for the fact that SocSec is broke, you'd be correct which is why anybody who understands it is for privatizing SocSec.

Dems 2008: These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis

Dems 2011: These two entities — Social Security and Medicare — are not facing any kind of financial crisis

It is not broke, it actually has a 2.6T surplus and can pay 100% benefits(even accounting for Boomers) until 2037... when(if nothing is done by then) the payout drops to 78%.

As for the rest of your post... just more bullshit.

It's broke, dead broke, if it were a private fund it would be bankrupt and the officers and directors hauled off to prison.

They have abused the full faith and credit of the USA.

If it were not able to borrow currently, it could not pay out obligation TODAY in 2011! How the hell do you think it lasts until 2037?

Who is the SSA borrowing from, lad?

Seriously, kid, go read a book.

You have been tragically misinformed.

 

[CrusaderFrank]

It is not broke, it actually has a 2.6T surplus and can pay 100% benefits(even accounting for Boomers) until 2037... when(if nothing is done by then) the payout drops to 78%.

As for the rest of your post... just more bullshit.

It's broke, dead broke, if it were a private fund it would be bankrupt and the officers and directors hauled off to prison.

They have abused the full faith and credit of the USA.

If it were not able to borrow currently, it could not pay out obligation TODAY in 2011! How the hell do you think it lasts until 2037?

Who is the SSA borrowing from, lad?

Seriously, kid, go read a book.

You have been tragically misinformed.

The "it" is the Government, Clueless.

You're wrong in the trillions column. Have you considered a career as a Liberal economist?

 

[saveliberty]

Yeah... Unfortunately.... there are people who retired last week and need to live on what they've saved up through investing. Which is why I am against Privatizing Social Security.

But for those not in that position... you are correct.

Except for the fact that SocSec is broke, you'd be correct which is why anybody who understands it is for privatizing SocSec.

Dems 2008: These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis

Dems 2011: These two entities — Social Security and Medicare — are not facing any kind of financial crisis

It is not broke, it actually has a 2.6T surplus and can pay 100% benefits(even accounting for Boomers) until 2037... when(if nothing is done by then) the payout drops to 78%.

As for the rest of your post... just more bullshit.

Those who say the fund has no money, or that it has nothing more than a bunch of IOUs from the federal government, are referring to the fact that Social Security doesn't have $2.5 trillion in cash sitting in a vault somewhere. The federal government has loaned the money to itself, using the cash to pay for other expenses.

According to the 2011 Annual Social Security and Medicare Trust Fund Reports, interest from the treasury bonds -- combined with the ongoing revenue from the Social Security payroll tax -- will be insufficient to cover the cost of retiree checks in 2022.

Unless something is changed, the trust fund will be drained because it is under-funded.

Fourteen years later, in 2036, the trust fund itself will be depleted, according to the report. If nothing is done, the only money flowing into Social Security will be the amount raised year-to-year in taxes. That will only cover about 75 percent of what it should through 2085.

PolitiFact Rhode Island | GOP Senate candidate Hinckley says there is no money in Social Security

Increased use of Social Security funds as a DC piggy bank will cause damage faster.