IOUSA Bonus Reel: Deficits and Social Security
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@kickittome70 50 years.
@ Unclesamslair
Well, yes, there will be consequences for investing in a violent monopoly. But people will never get all of their value back no matter what. The only way that people in 2030 will get their money back will be in inflated worthless dollars.
We need to look beyond the coming disaster and start thinking about preventing this stuff for our grandchildren. Short-run “philosophy” got us here. Long-run thinking is the only prevention. And a pure market is the only solution imho.
turns out the social security surplus isn’t just spent on other things. It’s borrowed at an interest rate to the US government who then has to pay it back to the social security with interest. SO in other words the deficit already includes the money that we borrow from the social security surplus and so stacking it on top like that to make the deficit look larger is false and misleading.
well, yes but there’s a bunch of people with us treasury bonds who paid for them and are expecting a return on that investment, do you have any idea of what the economic impact of ending the state and not paying back all those treasury bond holders their money would be?
@ Unclesamslair
I’m speaking of a long-run solution to the inevitable financial disasters that a state brings.
Give one group of people the right to take money by force and you have a guaranteed rip off in the making.
@threebobs and who will pay the debt?
wait, I thought social security was broke, but it’s actually running surpluses and helping pay for large parts of the budget?
End the state.
It’s the only solution to inevitable economic disasters.
And these neo-con elite want to cut taxes even further. We’ll that’s one argument that these neo-cons dont look at.
July 4th, 2009
America’s Tea Party
3700 Hogge rd. Parker Texas 75002
Not only is taking away benefits for which people had already paid outrageous, it’s downright obscene at a time when these people have just seen much of the wealth in their homes and their retirement savings disappear in the crashes of housing & the stock market. Making matters even worse is that fact that Peterson’s friends in the financial industry, along with many of the economists who would like to cut Social Security, were the primary culprits in this nightmare.
The facts aren’t liberal or conservative, they’re facts. As a moderate conservative I’m ashamed of how unwisely we’ve spent money. As a Christian I’m ashamed on how we spent money. I encourage believers not to align with the republicans just because they say they’re conservative, find a responsible candidate who knows what they’re talking about, and then acts on what they believe.
No shit, of course the Social Security money was being used, because it is used up EVERY year. You have to compare apples to apples, not apples to oranges. When Clinton was elected, it was because of the economy, stupid. That’s also a major reason Obama was elected.
You are absolutly clueless.
These huge debts are a result of social programs enacted by DEMOCRATS.
The surplus during Clinton’s presidency was BOGUS: the numbers were jiggered. The money collected from Social Security (FICA) was supposed to be dedicated for future retirees, put in a “lockbox”, instead the money was added to the general budget.
THAT is where the surplus came. Without it, we were in the RED.
Grow up, and get educated.
the usa is so screwed!
Wake up Guys, vote Republican again and even “Friend Countries” will be against you…
ML (Canadian)
you are unintelligent
Notice how the only time America ran surpluses was when a democrat was in office. Too bad his getting a consensual blowjob gave an excuse for the crazy christians to vote republican again.
Thank god I live in Sweden we are going plus, at the moment.
Wherever your money goes, unless it’s in your own business – you have no control brother. We have retirement plans in Australia to augment our gov. pensions. Trouble is they’re all going backwards. It’s got to be in your business – so you can call the shots. The rich bastards on Wall Street know that we dumb little people need to park our cash somewhere before we get the gold watch, so they use our pension savings like a treasure chest so that they can get rich. Then they lose and say – “sorry”
The thing is that that aircraft carrier will be worthless in 30 years. Gone. The Chinese will earn money so the US Navy can build an aircraft carrier. It’s kinda funny how quickly the Bush gov. has managed to destroy your once amazingly creative, influential and wealthy country. It seems that 9/11 seems to coincide with the steady decline in the US in relation to wealth, influence and business confidence. A $trillion on a war that didnt change anything seems an awful waste of valuable treasure
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