"Ostrich" Congress puts head in the sand and votes for debt increase

[Riot]

Originally Posted by Cannon Shell

http://online.wsj.com/article/SB1000...%3Darticle

Ah, but the fans of Maynard have not fired everything they have. Premise is wrong. We need a massive stimulus, right now. Everyone knows the first one was half-assed and too little.

I'll counter the WSJ op ed with another op ed, here:

http://www.nytimes.com/2011/08/01/op...t-ceiling.html

And this, "Why the market gods are angry" http://www.huffingtonpost.com/dylan-..._b_918934.html

[Riot]

You know, we already did this. It was called the Great Depression. After a couple years when the economy started to look like it was improving, FDR tried to cut spending in response to deficit hawks in 1937, and the economy tanked, and we were screwed for 10 years in Depression.

We literally are repeating the same mistakes. The exact same mistakes. Unbelievable.

http://thehill.com/blogs/floor-actio...eral-workforce

Hatch, Coburn seek $600 billion in savings by cutting federal workforce
By Pete Kasperowicz - 08/03/11 12:37 PM ET

GOP Sens. Orrin Hatch (Utah) and Tom Coburn (Okla.) on Tuesday introduced legislation that aims to save $600 billion over 10 years by freezing federal salaries and bonuses, cutting employees and contractors by 15 percent and cutting the federal travel budget by 75 percent.

[dellinger63]

Originally Posted by Riot

You know, we already did this. It was called the Great Depression. After a couple years when the economy started to look like it was improving, FDR tried to cut spending in response to deficit hawks in 1937, and the economy tanked, and we were screwed for 10 years in Depression.

We literally are repeating the same mistakes. The exact same mistakes. Unbelievable.

http://thehill.com/blogs/floor-actio...eral-workforce

All we need then is WW III to bail us out.

You earned your Eagle Scout Moron Badge with this one.

[Riot]

Originally Posted by dellinger63

You earned your Eagle Scout Moron Badge with this one.

LOL - naw. I'm not the one that thinks SS needs to be eliminated, and our retirement privatized and put into the stock market. Brilliant fiscal policy you have there

[dellinger63]

Originally Posted by Riot

LOL - naw. I'm not the one that thinks SS needs to be eliminated, and our retirement privatized and put into the stock market. Brilliant fiscal policy you have there

yea just keep paying in and the Fed keeps paying it out. SS does not need to be eliminated so much as protected. When a fund is supposed to have $3.6 trillion and there in actuality is NOTHING but IOU credits, there is a huge problem. Not to mention putting the entire country's retirement eggs in one basket.

BTW there are a variety of investments that DO NOT involve the stock market and in fact a responsible portfolio changes as one ages from primarily stocks to primarily bonds. But again you know that and are just playing dumb to fit in Obama's wacky world. Right? Or are you that ignorant for real?

[jms62]

Originally Posted by dellinger63

yea just keep paying in and the Fed keeps paying it out. SS does not need to be eliminated so much as protected. When a fund is supposed to have $3.6 trillion and there in actuality is NOTHING but IOU credits, there is a huge problem. Not to mention putting the entire country's retirement eggs in one basket.

BTW there are a variety of investments that DO NOT involve the stock market and in fact a responsible portfolio changes as one ages from primarily stocks to primarily bonds. But again you know that and are just playing dumb to fit in Obama's wacky world. Right? Or are you that ignorant for real?

Double

[Riot]

Originally Posted by dellinger63

yea just keep paying in and the Fed keeps paying it out. SS does not need to be eliminated so much as protected. When a fund is supposed to have $3.6 trillion and there in actuality is NOTHING but IOU credits, there is a huge problem. Not to mention putting the entire country's retirement eggs in one basket.

You really don't have a clue about how SS works. You are confusing figures regarding local cash flow during the past two months of government deficit lock with previous social security borrowing. Yes, Dell, previous administrations have taken money out. Is it all gone? No. Is there plenty of money there to keep the fund solvent? Yes, yes there is. Is 3.6 million "gone forever"? Hell no. Only if the United States ceases to exist.

BTW there are a variety of investments that DO NOT involve the stock market and in fact a responsible portfolio changes as one ages from primarily stocks to primarily bonds.

LOL - how have portfolios with conservative investments done over the past 10 years, Dell? How have people who are within 5-10 years of retirement today been able to make up that 1/3 loss?

Answer: They have not. They've lost too much value.

You want to hand our "safety net" - not our primary private retirement funds (feel free to invest according to 1980 advice as ever you want) but the "safety net" - over to Wall Street? LOL

But again you know that and are just playing dumb to fit in Obama's wacky world. Right? Or are you that ignorant for real?

What does Obama have to do with Social Security? Geeshus, you just spout random right wing talking points and don't even make any sense. You are the perfect voter pawn for the GOP. You believe whatever they tell you, you attack whoever they distract you with when they dangle a shiny Muslim in front of your eyes, while they have taken over our government, and your money for their corporate friends.

You don't even have a clue what has just happened in Washington with this ridiculous debt "crisis" nonsense. Why is the market falling? Hint: it's not because of anything associated with "the deficit".

[Antitrust32]

Originally Posted by Riot

Is 3.6 million "gone forever"? ".

nice slip... add 6 more zero's to that.

[Riot]

Originally Posted by Antitrust32

nice slip... add 6 more zero's to that.

It's laughable that folks like Dell have only woken up to the state of the Social Security Trust Fund recently, when it was a central voting issue in the 1990's and 1980's.

In spite of Dell's sudden fear that money is gone forever, (and his confusion of cash-on-hand cashflow affecting monthly payments with Trust Fund issues) the truth is that the US Government has made good on every single claim for SS, never missing one payment. The only way that money is "gone forever" is if the United States is gone.