WHY is the DJIA crashing?

[Sallow]

Gee, then why was it again that President Obama said he couldn't guarantee that Social Security checks would go out if the debt ceiling wasn't raised?[

Because the SS Trust fund may not have been able to redeem its securities at the treasury if the ceiling wasn't raised.

That's part of what default would entail.

LOL...you're kidding...right?

That's entirely correct.

 

[OohPooPahDoo]

Gee, then why was it again that President Obama said he couldn't guarantee that Social Security checks would go out if the debt ceiling wasn't raised?[

Because the SS Trust fund may not have been able to redeem its securities at the treasury if the ceiling wasn't raised.

That's part of what default would entail.

LOL...you're kidding...right?

No, its not a joke. Its real simple.

1) SS receipts do not presently cover their outlays,...
2) so to make expenses, SS has to redeem the treasuries in the Trust fund...
3) but if the Treasury Dept. isn't paying those treasuries, they won't be able to redeem them...
4) and therefore, SS will not have enough income to sustain itself, and checks will be delayed. I presume they would be paid out in a FIFO fashion, essentially everyone's check would come later and later each month.

 

[saveliberty]

shintao, for a short little shit, you exhibit classic aggression issues. Grow a brain and then you can play with the big boys.

 

[saveliberty]

Social Security makes people live longer? Got a study?

 

[saveliberty]

...and why are the funds in T bills to begin with? Because Congress "borrowed" them. True story.

 

[Sallow]

There is no magical pot of gold and the military is just as guilty of being bloated and inefficient as any other branch of the government (if not more!) They need to be cut just like the rest.

It's not just "inefficient" it's ludicrious.

We are spending more then everyone else combined.

It's like we are expecting the Klingon Empire to someday show up and threaten the planet.

The military does provide a service
much more than those I seen at the wall mart the 1st of every month cashing there checks
simply put we were within 162 billion of breaking even in 2007 with Iraq wide open
the military is not the problem

What "service" is that?

I didn't see any super duper billion dollar jet fighters stopping some idiots from slamming slow lumbering commercial planes into one of the most important structures in the free world on 09/11/2001. Did you? Those planes were in the air for over an hour.

And I don't know what you are talking about in terms of the budget. It's actually completely wrong. Iraq and Afghanistan were scored as emergency supplemental spending and wasn't part of the overall budget. President Obama put those two wars back in. Additionally..there was an article pointing out that Bush's numbers were off by over 180 Billion dollars. All told he probably added some 5 trillion to the debt..if not more.

The military is a problem..a very big problem in terms of the budget. And the fact that it is so large and so powerful inspires ridiculous actions like Iraq.

 

[Sallow]

...and why are the funds in T bills to begin with? Because Congress "borrowed" them. True story.

And they are a good solid investment.

 

[Sallow]

Social Security makes people live longer? Got a study?

People are not living longer?

Then there's no problem.

 

[Oldstyle]

I thought it was common knowledge that people take more out of Social Security than they ever put in.

I just want to make sure I get your position straight, though - you're of the opinion that the returns that people get on the SS investments they make are too high?

It isn't my "opinion", OohPaa...it's a fact. Just look at life expectancy numbers for the US. In 1960 the life expectancy of someone in the US was 69.8 years. In 2010 that number is 78.2. Just in that period of time the number of years paying out went from 4.8 to 13.2. Surely even you can see the problem that has created. People are living much longer and they are collecting much more.

 

[shintao]

Hate to burst your bubble but the amounts have been adjusted for inflation. The fact is...when Social Security was created most people didn't live much past sixty now most live into their 80's.

As far as I know those amounts are just pulled out of your ass, I've seen no documentation.

Pulled out of my ass? What's with you guys and the rectal references? I suppose I could go and find the exact amounts, OohPoo. I thought it was common knowledge that people take more out of Social Security than they ever put in. I guess I should have known that "you" wouldn't be up to speed on that.

You forgot to say the number of people who do take in more is a very limited number, for a very limited time.

http://www.ssa.gov/policy/docs/chartbooks/fast_facts/2010/fast_facts10.html#oasdi

 

[shintao]

I guess the dweeb in in his own words is delusional and ill-informed, and unable to answer the simple question he argued the point on when he made the accusation. TSK!! Typical Retard, all mouth, no brains.

 

[Poli_Sigh]

Obama's "deal" didn't do anything to address unfunded entitlements. That you think it did says volumes about your grasp of the situation. Oh, and if you think another economic "panel" of the same folks that couldn't solve the problem now...is going to fix the problem in the future...you are as delusional as you are ill-informed.

Is social security & medicare fully funded?

Social Security yes, fully funded to the tune of $2.4 trillion dollars

Medicade not enough funding to keep it current.

Homeland Security? No funding at all..total expense every year

Iraq nation buidling? No funding at all..total expense every year

AFghanistan nation building ? No funding at all..total expense every year

Department of defence? No funding at all..total expense every year

Are we getting the economic picture, yet?

Iraq is oil-rich. They shouldn't need a red cent from us to rebuild. In fact, they should be paving our streets with black gold in appreciation for our efforts on their behalf. Not that for one minute I think they will ever thank us. Afghanistan - what nation building? Besides they have their poppies and if they play their cards right - a pipeline running through filled with oil from which they'll dip their share.

Homeland Security - scrap it - it's nothing more than another bureaucratic pull on the tit. Not to mention an affront to real Americans. We do not live now nor have we ever lived in the Homeland. This is the United States of America and I'm damned proud of it. The very idea of referring to this country as a Homeland is ridiculous. They'd probably have chosen Fatherland had it not already been used.

Department of Defense - you mean they aren't receiving the appropriation lion share, Hard to believe. They'd mismanage whatever they got anyway - $2,000 toilets, airplanes that can't fly, that sort of dumb military squat. I guess when we were rolling in the green stuff and the Cold War was in full icy bloom it was OK - now not so much.

Hasn't anyone other than myself noticed that governments (in general) cry poor but are able to pull a couple of million or so from some hidden side pocket? I find this slightly amusing yet disturbing at the same time. Where does that money come from? I suspect it is being printed in a backroom somewhere in the Capitol.

America's economic picture is indeed bleaker than it has ever been since most of us weren't alive during the Depression. That's what happens when resources have been over estimated and the resilience of the opposition underestimated. It's time to look after our lives and affairs and stop trying take over the world so we can control the lives and affairs of others.

 

[saveliberty]

...and why are the funds in T bills to begin with? Because Congress "borrowed" them. True story.

And they are a good solid investment.

Oh, they will be great at the higher interest rates from the credit downgrade.

 

[OohPooPahDoo]

I thought it was common knowledge that people take more out of Social Security than they ever put in.

I just want to make sure I get your position straight, though - you're of the opinion that the returns that people get on the SS investments they make are too high?

It isn't my "opinion", OohPaa...it's a fact. Just look at life expectancy numbers for the US. In 1960 the life expectancy of someone in the US was 69.8 years. In 2010 that number is 78.2. Just in that period of time the number of years paying out went from 4.8 to 13.2. Surely even you can see the problem that has created. People are living much longer and they are collecting much more.

There's a problem with people getting a return on their investment? I should give the government $100 today and 30 years from now only get $100 back? Bullshit!

 

[Immanuel]

Didn't they say it was absolutely positively necessary to increase the debt ceiling in order to prevent this exact outcome?

Its a mess
We have one of the largest oil finds in this countries history and our president has been telling the GOP house that there budget is no good
He sit and made the GOP re write there own budget until he got what he wanted
Jobs?
hell all he has been worried about was printing more bonds, he got what he asked for and what we got in return is the same thing we got in 09
nothing
Its become sad

I know why the market is crashing. I think its time the liberals face this mess they have put us in and stop pretending that this is something we inherited

If raising the debt limit was crucial to avoiding the bloodbath we have witnessed SINCE the dopes acquiesced, then imagine how bad it would have been if they hadn't dumped us so much deeper into debt.

Sorry, I am just now getting into this thread (and probably out too as I don't think I plan on reading 37 pages of this stuff) but isn't that the excuse the Democrats have been laying on us about unemployment. I know I have read that they have "saved" jobs and that we should all be kissing their asses because if Barack had not saved us things would have been much much worse.

Too bad they can't prove that.

Immie

 

[OohPooPahDoo]

Its a mess
We have one of the largest oil finds in this countries history and our president has been telling the GOP house that there budget is no good
He sit and made the GOP re write there own budget until he got what he wanted
Jobs?
hell all he has been worried about was printing more bonds, he got what he asked for and what we got in return is the same thing we got in 09
nothing
Its become sad

I know why the market is crashing. I think its time the liberals face this mess they have put us in and stop pretending that this is something we inherited

If raising the debt limit was crucial to avoiding the bloodbath we have witnessed SINCE the dopes acquiesced, then imagine how bad it would have been if they hadn't dumped us so much deeper into debt.

Sorry, I am just now getting into this thread (and probably out too as I don't think I plan on reading 37 pages of this stuff) but isn't that the excuse the Democrats have been laying on us about unemployment. I know I have read that they have "saved" jobs and that we should all be kissing their asses because if Barack had not saved us things would have been much much worse.

Too bad they can't prove that.

Immie

CBO finds 3.7M jobs created by stimulus - The Hill's On The Money

 

[BDBoop]

From your link,

"According to Congress's nonpartisan scorekeeper, the Congressional Budget Office, this bill does not change the cost of the Recovery Act or any other legislation, and to say it does is purely political propaganda," the aide told The Hill.

 

[Immanuel]

If raising the debt limit was crucial to avoiding the bloodbath we have witnessed SINCE the dopes acquiesced, then imagine how bad it would have been if they hadn't dumped us so much deeper into debt.

Sorry, I am just now getting into this thread (and probably out too as I don't think I plan on reading 37 pages of this stuff) but isn't that the excuse the Democrats have been laying on us about unemployment. I know I have read that they have "saved" jobs and that we should all be kissing their asses because if Barack had not saved us things would have been much much worse.

Too bad they can't prove that.

Immie

CBO finds 3.7M jobs created by stimulus - The Hill's On The Money

A report by the nonpartisan Congressional Budget Office shows the Recovery Act has increased the number of workers by between 1.2 million and 2.8 million. The CBO also projects that 3.7 million jobs could be attributed to the stimulus by the end of September.

The $787 billion measure included several tax cuts, including one for $400 ($800 per working couple) that showed up in workers' paychecks. It also created Build America Bonds, expanded unemployment insurance and funded several domestic spending programs.

Anyone want to do the math on how much one of those 3.7 million jobs costs us taxpayers?

Oh wait, the made up number is only between 1.2 million and 2.8 million and then they add a potential 900 thousand in there by September of 2010 to just make things sound a little bit better. There is no actual proof of any of this except what Congress tells the CBO. I'm so thankful.

Geez, thank you very much for the "help" Democrats. Remind me never to ask you for any frigging favors in the future.

It will be a cold day in hell before I trust anything that comes out of the mouth of a politician.

Immie

 

[saveliberty]

Don't let facts get in your way. This was during the Census. Remember all the "created" jobs from that? We got multiple job counts from the same road construction worker too, as they moved from one job to another. Smoke and mirrors was all this was.

 

[IndependntLogic]

I love all of this blaming of Conservatives and Liberals, Dems and Repubs etc... for the DJIA.
As if politicians are the sole factor in stock pricing fluctuations.
So it was those positicians who caused the Ace Typewriter Co.'s stocks to crash when PC's became popular.
I mean sure, there are effects on certain industries. When Americans wise up and realize we don't need to spend more on defense, than every country in the world combined, then the price of Halliburton, Lockheed etc... will go down. When finaincial instruments such as stocks in the 30's, junk bonds / Thrift & loans in the 80's, and the Commercial Mortgage Backed Securities Market in 2003 are deregulated, we inevitibly have a crash a few years later.
But Obama hasn't made a single policy that would have such a dramatic effect on any industry - let along ALL of them.
And guess what? The debt ceiling has NOTHING to do with a stock price. WTF? Who told the people spewing this bs that? Right now, over 100 stocks are soaring through the roof. What? Did they just not hear about the debt ceiling? No one told them about the evil Republicans?

I love how dots that have nothing to do with each other, are connected in order to prove "My party is better than your party". Funny juju.