Tim Geithner deliberately told to LIE by the WHITEHOUSE

[NYcarbineer]

laughable liberal loser; to even talk of a sky is falling mentality

did the world end over the sequester leftard?

That would be the sequester that Republicans blamed on Obama, right?

Oh my, yes it would. Good for you for giving the President credit for the sequester.

The sequester was Obama's idea. We have YouTube videos of him threatening Congress if they back out on it as well. Obama refused to negotiate in good faith so any budget agreements would fall thru, so the sequester would kick in automatically and this allowed him to gut the defense budget.

lol

 

[mudwhistle]

Payroll taxes do not 'go' to the Treasury. They are loaned to the Treasury by the SS Trust Fund. SS is a creditor, not a debtor. SS doesn't borrow, it loans. SS cannot therefore be adding to the deficit,

any more than the Chinese are, or US money market funds are, or your kid with his Savings Bond is.

How is SS a creditor when they are losing money? How do you give people credit when you have a negative cash flow? You can't really loan people money if you owe money, you don' have any money. And you sure as hell don't have tome on your side to collect any interest.

On top of that based on your logic you are actually loaning money you don't have to a company (The United States) that is sitting on a 17 trillion dollar debt, heading for 20 trillion and has unfunded liabilities of 97 trillion. And of those unfunded liabilities YOU the so called creditor are a major portion of.

Yet you seem to see a way to work out of this spiral. Please explain to me how you can take a negative cash flow and invest in a business that is 17 trillion in debt with no other option but to go into 20 trillion in debt is a wise investment.

Why would anyone ever do that?

SS is not losing money. This the problem with you people. You will never research anything for yourselves, instead you rely on some idiot on the radio to do your thinking for you.

The US government owes the SS trust fund 2.5 trillion dollars. The trust fund makes 100 billion a year off that just in interest payments.

The problem is this constant borrowing from the fund. It isn't the pot of gold you claim it is. It doesn't matter how much interest it collects if the fund is empty and benefits have to be paid. Constant calls for raising the retirement age gives away the true state of the fund.

 

[mudwhistle]

That would be the sequester that Republicans blamed on Obama, right?

Oh my, yes it would. Good for you for giving the President credit for the sequester.

The sequester was Obama's idea. We have YouTube videos of him threatening Congress if they back out on it as well. Obama refused to negotiate in good faith so any budget agreements would fall thru, so the sequester would kick in automatically and this allowed him to gut the defense budget.

lol

Excellent response, Mr. Ex-spurt.

 

[mudwhistle]

And the last GOP President to balance the budget was _____________

A red-herring.

Congress is in charge of spending. The president simply submits a budget for their approval. It is a recommendation. Obama hasn't had one of his silly budgets pass. He gets zero votes whenever he does submits one, and only does because it is required by law. It takes total cooperation for a balanced budget. It also takes discipline, something neither Congress Obama have.

Gee, you found something Obama isn't responsible for, our deficit. Thanks. Somehow, I'm sure that's not what you meant.

Yet Obama is going around Congress. He's trying to reduce their ability to keep his spending in check. One way he went around Congress is through QE. Quantitative Easing is just corporate welfare he's using to prop up the market. When he ends it the market will crash because all of the easy money will dry up. $85 billion/mo. in easy cash.

 

[KissMy]

"Reagan," Vice President Dick Cheney famously declared in 2002, "proved deficits don't matter." Unless, that is, a Democrat is in the White House. After all, while Ronald Reagan tripled the national debt and George W. Bush doubled it again, each Republican was rewarded with a second term in office. But as the Gallup polling data show, concern over the federal deficit hasn't been this high since Democratic budget balancer Bill Clinton was in office. All of which suggest the Republicans' born-again disdain for deficits ranks among the greatest - and most successful - political double-standards in recent memory.

 

[Iceweasel]

"Reagan," Vice President Dick Cheney famously declared in 2002, "proved deficits don't matter." Unless, that is, a Democrat is in the White House. After all, while Ronald Reagan tripled the national debt and George W. Bush doubled it again, each Republican was rewarded with a second term in office. But as the Gallup polling data show, concern over the federal deficit hasn't been this high since Democratic budget balancer Bill Clinton was in office. All of which suggest the Republicans' born-again disdain for deficits ranks among the greatest - and most successful - political double-standards in recent memory.

Wow. What Looney Toons. Reagan and Bush both had Democrat big spenders to deal with, Bush was no fiscal conservative (libs should have loved him) and they reneged on Reagan and didn't cut spending after his tax cuts. He and Bush both had to rebuild the military and Clinton had the Republicans balanced budget to deal with. He fought them on numerous spending fronts but had to give in.

 

[NYcarbineer]

Reagan and the Democrats fixed Social Security for about 50 years and it was in much worse shape than now or in the near future.

It can be fixed again. Easily. Conservatives want to portray SS in the worst light possible because they imagine they might be able to end it.

 

[mudwhistle]

"Reagan," Vice President Dick Cheney famously declared in 2002, "proved deficits don't matter." Unless, that is, a Democrat is in the White House. After all, while Ronald Reagan tripled the national debt and George W. Bush doubled it again, each Republican was rewarded with a second term in office. But as the Gallup polling data show, concern over the federal deficit hasn't been this high since Democratic budget balancer Bill Clinton was in office. All of which suggest the Republicans' born-again disdain for deficits ranks among the greatest - and most successful - political double-standards in recent memory.

You seem very prone to exaggeration....

 

[mudwhistle]

Reagan and the Democrats fixed Social Security for about 50 years and it was in much worse shape than now or in the near future.

It can be fixed again. Easily. Conservatives want to portray SS in the worst light possible because they imagine they might be able to end it.

Actually the debt is the problem. Both parties have been stealing from the SS fund.

 

[RandallFlagg]

"Reagan," Vice President Dick Cheney famously declared in 2002, "proved deficits don't matter." Unless, that is, a Democrat is in the White House. After all, while Ronald Reagan tripled the national debt and George W. Bush doubled it again, each Republican was rewarded with a second term in office. But as the Gallup polling data show, concern over the federal deficit hasn't been this high since Democratic budget balancer Bill Clinton was in office. All of which suggest the Republicans' born-again disdain for deficits ranks among the greatest - and most successful - political double-standards in recent memory.

Link?

 

[Dont Taz Me Bro]

A Social Security shortfall would be if Social Security's payouts for the year exceed its income for that year.

That has not happened, therefore, you are wrong and I am right.

What you are is an ignoramus extraordinaire.

Social Security has been running in the red for several years and will see a 12 percent gap between the taxes it’s collecting and the benefits it’s projected to pay out over the next 10 years, according to a report Tuesday from the Congressional Budget Office.

And the problem will only get worse as the years go on, CBO said.

Social Security to run 12% deficit for next decade - Washington Times

You are wrong and ineducable. A very serious condition.

Prove me wrong. Do you understand that the SS Trust Fund earns interest on its bonds?

You said specifically "A Social Security shortfall would be if Social Security's payouts for the year exceed its income for that year."

I just provided you with information showing that has been true for a few years now so are you going to man up and admit you're wrong or keeping being a typical New York *****?

 

[NYcarbineer]

What you are is an ignoramus extraordinaire.

You are wrong and ineducable. A very serious condition.

Prove me wrong. Do you understand that the SS Trust Fund earns interest on its bonds?

You said specifically "A Social Security shortfall would be if Social Security's payouts for the year exceed its income for that year."

I just provided you with information showing that has been true for a few years now so are you going to man up and admit you're wrong or keeping being a typical New York *****?

Please direct your attention to the far right column in the first chart.

Trust Fund Data

 

[Theowl32]

Aaaaand now he denies that he was ever prepped, even though he wrote it himself in his own book.


Why even debate liberals? They shift the goal posts, they obfuscate from the point, they take on both sides of any issue, they deny the facts, they then call names.


That is every debate with a liberal. That is pretty much the pattern.

 

[NYcarbineer]

Reagan and the Democrats fixed Social Security for about 50 years and it was in much worse shape than now or in the near future.

It can be fixed again. Easily. Conservatives want to portray SS in the worst light possible because they imagine they might be able to end it.

Actually the debt is the problem. Both parties have been stealing from the SS fund.

No, unless you believe we're stealing from every creditor the US government has.

Stealing would be if the US general fund refused to meet an SS Trust Fund call for funds above the incoming payroll tax revenues.

 

[Theowl32]

laughable liberal loser; to even talk of a sky is falling mentality

did the world end over the sequester leftard?

That would be the sequester that Republicans blamed on Obama, right?

Oh my, yes it would. Good for you for giving the President credit for the sequester.

The sequester was Obama's idea. We have YouTube videos of him threatening Congress if they back out on it as well. Obama refused to negotiate in good faith so any budget agreements would fall thru, so the sequester would kick in automatically and this allowed him to gut the defense budget.

Oh Dear Lord, do they still blame the sequester on Republicans?

Well, just another piece of evidence of how hopeless of a situation we are dealing with in this country.

 

[bluecoller-eddy]

Originally Posted by NYcarbinee
Social Security doesn't contibute to the deficit.

NYcarbinee is right. OASI Trust Fund has never run a deficit. Historical fact.

Post # 40
OKTexas Askes --
Tell me, when there is a shortfall in payroll taxes and the SS administration
has to cash out bonds to make up the difference, where does the money come from?
Can you say the general fund?

Of coarse, the general government borrowed $2 and 1/2 trillion (give or take a few nickels)
from the OASI Trust Fund. The federal government owes the OASI Trust Fund, a separate
entity this money.

In 1983 a few hundred private sector lobby's used brain-dead Reagan's gift of gab to
create a "save social security" scam. The purpose of this scam was to get the working
class to help pay for tax cuts for the vulture capitalists. It worked perfectly.
For 30 years the the working class paid extra social security taxes into the "save
social security trust fund" and the vulture capitalists paid less taxes.

Brain-dead Reagan and a few other brain damaged people probably thought that the
trust fund money would appear out of thin air when it was needed.
Fact is the only way to get the money is for the general government to buy
the OASI Trust Fund bonds back. This is not the OASI Trust Funds problem.

Since the vulture capitalists paid less taxes for the last 30 years, I suggest that
we raise taxes on these freeloading critters to cover our deficits.

For Republicans, Lying is a way of life.

-------Bluecoller--the grumpy old kraut -----

 

[asterism]

Originally Posted by NYcarbinee
Social Security doesn't contibute to the deficit.

NYcarbinee is right. OASI Trust Fund has never run a deficit. Historical fact.

Post # 40
OKTexas Askes --
Tell me, when there is a shortfall in payroll taxes and the SS administration
has to cash out bonds to make up the difference, where does the money come from?
Can you say the general fund?

Of coarse, the general government borrowed $2 and 1/2 trillion (give or take a few nickels)
from the OASI Trust Fund. The federal government owes the OASI Trust Fund, a separate
entity this money.

In 1983 a few hundred private sector lobby's used brain-dead Reagan's gift of gab to
create a "save social security" scam. The purpose of this scam was to get the working
class to help pay for tax cuts for the vulture capitalists. It worked perfectly.
For 30 years the the working class paid extra social security taxes into the "save
social security trust fund" and the vulture capitalists paid less taxes.

Brain-dead Reagan and a few other brain damaged people probably thought that the
trust fund money would appear out of thin air when it was needed.
Fact is the only way to get the money is for the general government to buy
the OASI Trust Fund bonds back. This is not the OASI Trust Funds problem.

Since the vulture capitalists paid less taxes for the last 30 years, I suggest that
we raise taxes on these freeloading critters to cover our deficits.

For Republicans, Lying is a way of life.

-------Bluecoller--the grumpy old kraut -----

OASDI is not a separate entity from the federal government.