By no possible amount of stretching does Social Security fit the definition of the term "insurance." It's a Ponzi scheme where the new "investors" provide the cash to make good on the promises to the original "investors."
Those payments are spent the minute they are recieved. In a true insurance program, premiums are invested in instruments that can produce a return. The people who pay the SS "premiums" are being defrauded.
Exactly!
Tell the government that though!!!
It LOVES spending all that money it's suppose to be banking.
Wonder how much of it is tied up in the military budget right now?
Not as much as there would be because our Fearless Leader has been raiding the defense budget to offset some of his other schemes. He doesn't have any intention of paying down the debt or even reducing the deficit obviously, but we would probably be amazed at where he is directing various departments to send our money.
But then he doesn't see it as our money does he? He made that perfectly clear with his "If you've got a business, you didn't build that" line. He sees it all as one big pool of money with him annointed our king charged to distribute and spend it. And still his adorers and worshippers reject any notion that his doctrine has strong Marxist leanings with ever bigger and stronger government until the government has it all and can then create utopia.
Unfortunately, in no instance EVER has a government that achieved that kind of power ever voluntarily given it up.
Of course, we can't cut the spending of taxpayers money used to kill and maim men, women and children to save people lives. That would not be 'Christian'.
Obama put the cost of the wars IN the budget, something Bush was too timid or dishonest to do.
Under Obama government outlays are rising at the slowest pace since 1950s. Obama has put a freeze on government salaries and pay.
Here are the
facts, according to the official government statistics:
• In the 2009 fiscal year — the last of George W. Bush’s presidency — federal spending rose by 17.9% from $2.98 trillion to $3.52 trillion. Check the official numbers at the Office of Management and Budget.
• In fiscal 2010 — the first budget under Obama — spending fell 1.8% to $3.46 trillion.
• In fiscal 2011, spending rose 4.3% to $3.60 trillion.
• In fiscal 2012, spending is set to rise 0.7% to $3.63 trillion, according to the Congressional Budget Office’s estimate of the budget that was agreed to last August.
• Finally in fiscal 2013 — the final budget of Obama’s term — spending is scheduled to fall 1.3% to $3.58 trillion. Read the CBO’s latest budget outlook.
Over ObamaÂ’s four budget years, federal spending is on track to rise from $3.52 trillion to $3.58 trillion, an annualized increase of just 0.4%.
There has been no huge increase in spending under the current president, despite what you hear.
Why do people think Obama has spent like a drunken sailor? ItÂ’s in part because of a fundamental misunderstanding of the federal budget.
What people forget (or never knew) is that the first year of every presidential term starts with a budget approved by the previous administration and Congress. The president only begins to shape the budget in his second year. It takes time to develop a budget and steer it through Congress — especially in these days of congressional gridlock.
The 2009 fiscal year, which Republicans count as part of ObamaÂ’s legacy, began four months before Obama moved into the White House. The major spending decisions in the 2009 fiscal year were made by George W. Bush and the previous Congress.
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Here is how the laws Democrats passed will affect the debt, and what will happen to the debt if Republicans are able to repeal the Affordable Health care Act and repeal the ending of the Bush tax cuts.
Here is the 'rub'...We are on
The Extended-Baseline Scenario trajectory Obama and the Democrats put us on. If Congress does nothing the Extended-Baseline Scenario is already in place.
IF the Bush tax cuts don't expire and the AHA is not fully implemented or repealed the
The Alternative Fiscal Scenario is the trajectory Teapublicans will take us if they gain enough power.
the
CBO lays it out perfectly clear...CRYSTAL.
Federal Debt Held by the Public Under CBOÂ’s Long-Term Budget Scenarios
(Percentage of gross domestic product)
The chart shows 2 scenarios. For all practical purposes, you can call the Extended-Baseline Scenario the Democrat scenario and the Alternative Fiscal Scenario the Teapublican scenario.
The Extended-Baseline Scenario adheres closely to current law. Under this scenario, the expiration of the tax cuts enacted since 2001 and most recently extended in 2010, the growing reach of the alternative minimum tax, the tax provisions of the recent health care legislation, and the way in which the tax system interacts with economic growth would result in steadily higher revenues relative to GDP.
The Alternative Fiscal Scenario
The budget outlook is much bleaker under the alternative fiscal scenario, which incorporates several changes to current law that are widely expected to occur or that would modify some provisions of law that might be difficult to sustain for a long period. Most important are the assumptions about revenues: that the tax cuts enacted since 2001 and extended most recently in 2010 will be extended; that the reach of the alternative minimum tax will be restrained to stay close to its historical extent; and that over the longer run, tax law will evolve further so that revenues remain near their historical average of 18 percent of GDP. This scenario also incorporates assumptions that MedicareÂ’s payment rates for physicians will remain at current levels (rather than declining by about a third, as under current law) and that some policies enacted in the March 2010 health care legislation to restrain growth in federal health care spending will not continue in effect after 2021.