jkapp
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Post by jkapp on Jul 27, 2011 10:30:15 GMT -5
www.msnbc.msn.com/id/43904136/ns/politics-the_new_york_times/?gt1=43001So I'm confused...for years Democrats have been saying that SS has enough money to remain solvent until 2030-something. Yet now they say if they are not allowed to BORROW money to pay SS checks, then they will not be paid. So where is all that money the Dems have been stating is in the fund to help cover benefits for the next 20+ years?? Because if we are borrowing money to cover the SS payments, then their whole argument about having enough money to cover benefits was a HUGE lie...
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Driftr
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Post by Driftr on Jul 27, 2011 10:41:03 GMT -5
The only way I can believe this is if the timing of the maturities for the Bills/Notes/Bonds held by the 'Trust' and the receipt of payroll taxes doesn't mesh well with when payments are due to go out. I'd think that several people at Treasury would have been looking at their historic cash flow during the last month or so and planning for these cash management 'opportunities', but I expect I've once again given those in government too much credit.
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wyouser
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Post by wyouser on Jul 27, 2011 12:52:42 GMT -5
You believed all that talk about "lockboxes" and trust acounts? Ironic , is it not, only a while ago we were concerned that the funds for SS and Medicare would run out at "such and such " a date (NOT 08/02/2011) in the future.  A lock box full of treasury IOU s is now a problem? Me thinks you cannot give politicians too much credit for their uncanny ability to screw thing up. |
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Post by BeenThere...DoneThat... on Jul 27, 2011 13:03:32 GMT -5
...good question, jkapp... |
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Deleted
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Post by Deleted on Jul 27, 2011 13:32:28 GMT -5
So I'm confused...for years Democrats have been saying that SS has enough money to remain solvent until 2030-something. Yet now they say if they are not allowed to BORROW money to pay SS checks, then they will not be paid.
The SS fund is totally broke IF your trying to raise the debt ceiling or gain votes (scared people will usually vote for the party that feeds them).
It's fully funded (until some long distance date) if your trying to spend money or start a new social program (or both).
Seems pretty clear to me.
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djAdvocate
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Post by djAdvocate on Jul 27, 2011 14:21:07 GMT -5
i can clear that up for you. thanks to the economic downturn, SS is now upside down. |
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jkapp
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Post by jkapp on Jul 27, 2011 14:45:25 GMT -5
i can clear that up for you. thanks to the economic downturn, SS is now upside down. That could very well be...however, I'm not sure how we went from what Dems referred to as a $2.6T reserve that would last until late 2030's to being in a hole (unless that reserve was stolen).  I always knew that the "trust" fund was just fantasy dollars that the politicos bs'd the people into believing the government hadn't stolen those funds and wasted it on other projects. But the Dems were insistent that fund reserves were there and would cover benefits until 2036/2037. I think I will have to agree with oldtex on this one...  |
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djAdvocate
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Post by djAdvocate on Jul 27, 2011 14:56:20 GMT -5
i can clear that up for you. thanks to the economic downturn, SS is now upside down. That could very well be...however, I'm not sure how we went from what Dems referred to as a $2.6T reserve that would last until late 2030's to being in a hole (unless that reserve was stolen). I always knew that the "trust" fund was just fantasy dollars that the politicos bs'd the people into believing the government hadn't stolen those funds and wasted it on other projects. But the Dems were insistent that fund reserves were there and would cover benefits until 2036/2037. I think I will have to agree with oldtex on this one... shocking! you agree with oldtex!!! i think i will have a coronary.  |
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jkapp
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Post by jkapp on Jul 27, 2011 16:01:06 GMT -5
That could very well be...however, I'm not sure how we went from what Dems referred to as a $2.6T reserve that would last until late 2030's to being in a hole (unless that reserve was stolen). I always knew that the "trust" fund was just fantasy dollars that the politicos bs'd the people into believing the government hadn't stolen those funds and wasted it on other projects. But the Dems were insistent that fund reserves were there and would cover benefits until 2036/2037. I think I will have to agree with oldtex on this one... shocking! you agree with oldtex!!! i think i will have a coronary. Hey oldtex and I have had many disagreements on certain issues! ;D |
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djAdvocate
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Post by djAdvocate on Jul 27, 2011 18:00:18 GMT -5
shocking! you agree with oldtex!!! i think i will have a coronary. Hey oldtex and I have had many disagreements on certain issues! ;D i am still waiting, with trembling anticipation, for the day you agree with ME. it could happen! yeah! RIGHT! ;D |
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jkapp
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Post by jkapp on Jul 28, 2011 8:29:59 GMT -5
Hey oldtex and I have had many disagreements on certain issues! ;D i am still waiting, with trembling anticipation, for the day you agree with ME. it could happen! yeah! RIGHT! ;D I think I remember agreeing with something you posted (or at least part of it), I just didn't have time to post anything at the time...I'll see if I can remember what the discussion was about |
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A lock box full of treasury IOU s is now a problem? Me thinks you cannot give politicians too much credit for their uncanny ability to screw thing up.
