XSMP All American 16674 Posts user info edit post |
does that mean we stop paying INTO Social Security, as well? 7/27/2011 2:08:35 PM |
Joie begonias is my boo 22491 Posts user info edit post |
nope --
[Edited on July 27, 2011 at 2:09 PM. Reason : -->] 7/27/2011 2:09:40 PM |
dswillia Q(o.oQ) 2190 Posts user info edit post |
that'd be assuming that everything was working as intended - we'll continue to pay in even if nothing is ever paid out 7/27/2011 2:09:47 PM |
GeniuSxBoY Suspended 16786 Posts user info edit post |
Poor Obama.
Clearly Congresses fault.
Yet he'll be blamed because nobody knows who or what congress is or does. 7/27/2011 2:11:05 PM |
XSMP All American 16674 Posts user info edit post |
So it becomes the "Reckless Abandonment" Government Fund? 7/27/2011 2:12:17 PM |
arghx Deucefest '04 7584 Posts user info edit post |
yeah my parents may not get their checks 7/27/2011 2:25:45 PM |
Joie begonias is my boo 22491 Posts user info edit post |
damn baby boomers 7/27/2011 2:27:33 PM |
XSMP All American 16674 Posts user info edit post |
my dad just got to the age where it is relevant and now boom goes the security. my father has served in 3 fucking wars, 3 tours THIS war and it all goes away right when he needs his country. What next, take away soldier's pensions? police officers pensions? 7/27/2011 2:30:16 PM |
Joie begonias is my boo 22491 Posts user info edit post |
7/27/2011 2:30:31 PM |
aaronburro Sup, B 52910 Posts user info edit post |
^^ and that's why we should have never made people dependent on SS in the first place. ponzi schemes always fall apart, government ones should be no different.
but, all of this shit is fear-mongering. If the debt-limit doesn't get raised and seniors don't get their checks, it will be Obama's fault, because he is the one who gets to decide what gets paid, and there is plenty of money to pay the SS checks. he's fearmongering, just like he always does 7/27/2011 2:33:11 PM |
quagmire02 All American 44225 Posts user info edit post |
i really hope our credit rating gets downgraded...when it happened to GB, they fixed their biggest problems and then were upgraded once they showed the world they knew how to responsibly handle money again 7/27/2011 2:35:10 PM |
sparky Garage Mod 12301 Posts user info edit post |
does that include death benefits? 7/27/2011 2:36:25 PM |
XSMP All American 16674 Posts user info edit post |
what is a ponzi scheme? SS? I don't follow...SS worked fine, it's the people running the country that USED UP the resources SS produced, SS didn't bottom out on it's own. 7/27/2011 2:36:41 PM |
PrufrockNCSU All American 24415 Posts user info edit post |
If the surpluses SS ran at hadn't been spent elsewhere, SS would be more than a ponzi scheme.
A ponzi scheme is some sort of investment which promises great returns, but the money being paid into the investment is being used to pay investors who want out. The returns people believe they are getting on their initial investment usually causes the 'victim' to leave their money in and add to it. A ponzi scheme's downfall comes when more people want money out of the system than is coming in to the system. Bernie Madoff ran a huge one.
As it is, SS takes the money being paid in and pays it out to those collecting which is a total ponzi scheme. They are concerned about it collapsing because not enough people will be contributing. If they money past generations had contributed hadn't been spent elsewhere there would be much less issue here if any.
Social Security checks will go out, and there is already a mechanism in the Social Security trust fund to sell Treasury bonds to come up with the cash to pay them.
[Edited on July 27, 2011 at 2:47 PM. Reason : ] 7/27/2011 2:44:39 PM |
Samwise16 All American 12710 Posts user info edit post |
I hope it doesn't stop.. idk what my grandma would do 7/27/2011 2:48:27 PM |
XSMP All American 16674 Posts user info edit post |
how long until those treasury bonds get "ponzied"? 7/27/2011 2:49:11 PM |
PrufrockNCSU All American 24415 Posts user info edit post |
The Social Security trust fund holds about $2.4 trillion in U.S. Treasury bonds, which its trustees are legally entitled to redeem whenever Social Security is running a current account deficit. I'm not certain how long this would last for. It's my understanding the federal budget in total needs 1.2 trillion to operate until Spring 2012, but I could be off on that one. 7/27/2011 2:52:20 PM |
The E Man Suspended 15268 Posts user info edit post |
Quote : | ". What next, take away soldier's pensions? " |
Actually, we hit the ceiling back in May and started using soldier pension funds to fund the government since then.7/27/2011 9:20:53 PM |
theDuke866 All American 52766 Posts user info edit post |
I am more on the side of the Dems than the GOP in this (lately, anyway), but fuck SS. We should be phasing it out.
We have to pay on the obligations we've already made, but the program needs to be cut off at the knees. 7/28/2011 9:03:46 AM |
quagmire02 All American 44225 Posts user info edit post |
Quote : | "fuck SS. We should be phasing it out.
We have to pay on the obligations we've already made, but the program needs to be cut off at the knees." |
i'm with you, but i'm also more socialist than you are...i'd say trash social security, but maintain medicare/medicaid and institute socialized medicine for the population
it used to be that people planned for the future by saving (and investing if they were the gambling type) appropriately...you don't save, you don't have spending money when you're older...but i truly believe everyone is entitled to basic healthcare
[Edited on July 28, 2011 at 9:07 AM. Reason : .]7/28/2011 9:05:44 AM |
piddlebug ow 2293 Posts user info edit post |
This whole situation had been making life at work
Hooray for working in the financial industry! And Hooray for a shit ton of overtime thanks to this 7/28/2011 10:28:27 AM |
quagmire02 All American 44225 Posts user info edit post |
7/29/2011 7:50:42 AM |
McDanger All American 18835 Posts user info edit post |
lmao aaronburro, ensuring that a chit chat thread on the debt ceiling has appropriate levels of stupidity 7/29/2011 9:22:39 AM |
A Tanzarian drip drip boom 10995 Posts user info edit post |
Quote : | " it will be Obama's fault, because he is the one who gets to decide what gets paid" |
Wrong.
Just like nearly everything you post.7/29/2011 9:24:58 AM |
AxlBonBach All American 45550 Posts user info edit post |
Everybody's so goddamn busy pointing fingers at each other as to whose fault this is that nobody's realizing it's ALL our asses if we don't get together and fix this fuckin thing - and for that to happen there's going to have to be cooperation on both sides. Sadly, that's not going to happen because both sides are too satisfied with throwing their hands up and name-calling. Then, they use both use this exact same argument against each other, while both of them are unwilling to concede a damn thing.
It's mega :rolleyes: 7/29/2011 9:35:01 AM |
DivaBaby19 Davidbaby19 45208 Posts user info edit post |
that cartoon made me giggle 7/29/2011 9:35:31 AM |
LeonIsPro All American 5021 Posts user info edit post |
Quote : | "that cartoon made me giggle weep bitterly" |
7/29/2011 10:27:16 AM |
McDanger All American 18835 Posts user info edit post |
Quote : | "Everybody's so goddamn busy pointing fingers at each other as to whose fault this is that nobody's realizing it's ALL our asses if we don't get together and fix this fuckin thing - and for that to happen there's going to have to be cooperation on both sides. Sadly, that's not going to happen because both sides are too satisfied with throwing their hands up and name-calling. Then, they use both use this exact same argument against each other, while both of them are unwilling to concede a damn thing.
It's mega :rolleyes:" |
No what's rolly-eyes is the lack of understanding that leads to thinking this is a two-sided problem7/29/2011 10:34:30 AM |
McDanger All American 18835 Posts user info edit post |
actually it is a two-sided problem: republicans and centrists 7/29/2011 10:39:11 AM |
raiden All American 10504 Posts user info edit post |
Democrats have no fault at all? That seems suspect 7/29/2011 2:06:59 PM |
McDanger All American 18835 Posts user info edit post |
they do, and who notices where the goalposts have moved lately 7/29/2011 2:07:53 PM |
DeltaBeta All American 9417 Posts user info edit post |
Round to the side yard so old man McGillicuddy across the street won't come out waving his cane anymore when the ball goes into his yard.
[Edited on July 29, 2011 at 2:09 PM. Reason : *] 7/29/2011 2:09:20 PM |
BobbyDigital Thots and Prayers 41777 Posts user info edit post |
^^^
I will say that the last plan that I saw from the dems cut >1Trillion in spending, maintained all tax cuts and sought to increase tax revenues only by closing existing loopholes.
It wasn't perfect, but should have been considered a victory for the republicans, nonetheless. However, the GOP balked, and have basically been holding the economy hostage.
So right now, fuck the assholes in the GOP. 7/29/2011 2:23:29 PM |
mrfrog ☯ 15145 Posts user info edit post |
LAMO7/29/2011 2:42:32 PM |
theDuke866 All American 52766 Posts user info edit post |
^^ pretty much.
this is not shaping up to be the election where I start voting again. 7/29/2011 4:00:40 PM |