Social Security surplus dwarfed by future deficit

[Ariux]

Bush spent way too much.
I miss his responsible, compared to Obama, budgets.
Time to cut spending, a lot. Now.
Obama won't do it. Time for the adults to take over.

A Darwin Award is symbolically given to anyone who kills himself in spectacular fashion through his own stupidity. If spectacularly stupid statements could kill, you'd be a winner of the Darwin Award. Bush responsible?

The inexcusable Iraq war cost our economy roughly two trillion dollars, and our culture much more than that. That alone destroys any claim of Bush being responsible.

 

[Toddsterpatriot]

Bush spent way too much.
I miss his responsible, compared to Obama, budgets.
Time to cut spending, a lot. Now.
Obama won't do it. Time for the adults to take over.

A Darwin Award is symbolically given to anyone who kills himself in spectacular fashion through his own stupidity. If spectacularly stupid statements could kill, you'd be a winner of the Darwin Award. Bush responsible?

The inexcusable Iraq war cost our economy roughly two trillion dollars, and our culture much more than that. That alone destroys any claim of Bush being responsible.

If spectacularly stupid statements could kill

You'd have died decades ago.

 

[freedombecki]

Bush spent way too much.
I miss his responsible, compared to Obama, budgets.
Time to cut spending, a lot. Now.
Obama won't do it. Time for the adults to take over.

A Darwin Award is symbolically given to anyone who kills himself in spectacular fashion through his own stupidity. If spectacularly stupid statements could kill, you'd be a winner of the Darwin Award. Bush responsible?

The inexcusable Iraq war cost our economy roughly two trillion dollars, and our culture much more than that. That alone destroys any claim of Bush being responsible.

Ariux, my grandmother had a phrase for everything. Thank you for showing me what her expression, "bull in a china closet" means as such a crystal clear example in your witless post.

 

[CrusaderFrank]

Surplus?

There is no surplus!

It has NO ASSETS to SELL!

There is no "Surplus"!

It owns bonds that can only be sold to the US Government, the US $1trillion annual deficit government, who needs to borrow for pay for anything.

There is no Surplus.

There is no Surplus

There is no Surplus

 

[Wiseacre]

BUSH masked 2 trillion in deficits by using 2 trillion in SS surplus funds in his 8 years.

IN 4 years Obama has only used $380 billion in SS surplus funds to mask deficit.

WHERE WERE YOU when Bush used the $2 trillion?

How much debt/deficits did Clinton mask in his 8 years? The dems always praise him for the budget surplus while he was in office, but I guess it really wasn't a surplus then. So, after we remove the SS surplus during the 8 Clinton years, how much debt/deficits did he mask? [Sorry, not smart enough to use your link in your other post get at the number, I'm sorta math challenged.] Should we add an asterisk on Clinton's presidency and say yeah he balanced the budget but only because he has an SS surplus?

No doubt every president up to this one has enjoyed a SS surplus, which by law had to go to the Treasury. The fact that Obama's small SS surplus over his 1st term does not ameliorate the debt/deficits he has amassed; he and we knew the situation was coming when the baby boomers would begin to retire, this is/was not a surprise. To my mind, this was a condition that he should have addressed already, but failed to do so.

 

[freedombecki]

BUSH masked 2 trillion in deficits by using 2 trillion in SS surplus funds in his 8 years.

IN 4 years Obama has only used $380 billion in SS surplus funds to mask deficit.

WHERE WERE YOU when Bush used the $2 trillion?

He did? Will you please provide a link?

sure!

Debt to the Penny (Daily History Search Application)

just put in the fiscal year dates for president bush, 10/1/2001-10/1/2009, then look at the intergovernmental debt column and write the first number you find on it....i think the first recording of it was a month later, then look at the last number for intragovernmental debt on the chart and subtract the latter from the former number....that will give you the amount of debt added covering the SS surplus....then take the last number as obamas first number and put in today's date to get the last number in intragovermental debt and subtract the latter from the former for the ss surplus used under obama.

2.0 trillion for bush, 380 billion for Obama....so far.... his fiscal end for 4 years isn't completed yet, so some more will be added to his number but it is clearly trending at a much much lower number used of SS monies to mask the deficit than under president Bush.

Did you miss my post #12 from the national archives? Let me repeat what it says:

Quote:
Summary-
So, to sum up:
1- Social Security was off-budget from 1935-1968;
2- On-budget from 1969-1985;
3- Off-budget from 1986-1990, for all purposes except computing the deficit;
4- Off-budget for all purposes since 1990.
Finally, just note once again that the financing procedures involving the Social Security program have not changed in any fundamental way since they were established in the original Social Security Act of 1935 and amended in 1939. These changes in federal budgeting rules govern how the Social Security program is accounted for in the federal budget, not how it is financed.

Larry DeWitt
SSA Historian's Office
March 4, 2005
Updated 6/18/07
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Has something happened since June 18, 2007 to change this?

Congress Ryan summarized budgetary fiduciary issues well:

[ame="http://www.youtube.com/watch?v=3zpdGDiKX5s"]Paul Ryan: President's Budget is a Stunning Dereliction of Duty - YouTube[/ame]

Please somebody, petition the Obama administration to draw up a budget that is in the real world accounting arena, that shows the need to pay down debt and not to accumulate more with demands for private things people should be paying for with private funds based on promoting a free market.

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[TakeAStepBack]

Surplus?

There is no surplus!

It has NO ASSETS to SELL!

There is no "Surplus"!

It owns bonds that can only be sold to the US Government, the US $1trillion annual deficit government, who needs to borrow for pay for anything.

There is no Surplus.

There is no Surplus

There is no Surplus

I dont think people really understand thatt eh "special bonds" that harbor the alleged 2.7 trillion, need to be sold to acquire the money. So I guess the federal reserve "buys" them with printed out of no where money and this is suppose to be a surplus.

 

[expat_panama]

...Bush used the $2 trillion?

Bush was president. Congress spends. Reality is that debt piled up when Obama went to Washington---

--as a senator.