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(The American Interest)   Social Security runs in the red for a second straight year, but no biggy - our government's obligations are 100% backed by government obligations, which are backed by government obligations backed by government obligations   (blogs.the-american-interest.com) divider line 26
    More: Fail, social security, Capitol Hill  
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3334 clicks; posted to Politics » on 04 Oct 2012 at 10:51 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-10-04 10:59:46 AM
5 votes:

Ass Exploder: Does anyone seriously not understand that the federal government PRINTS MONEY and CANNOT POSSIBLY RUN OUT OF MONEY?

That there is not a limited supply of money in the world, it is printed and created out of nothing by the government?


Yes, and money has a static vale that never changes. Are you an idiot?
2012-10-04 10:57:53 AM
4 votes:
We knew it was going to run in the red 60 years ago when the baby boom happened. Maybe if we actually put all the surpluss we had thus far in a lockbox and not raid that fund for wars, tax cuts and other programs that were not paid for we would not have a problem.

But what idiot would propose such a lockbox?
2012-10-04 11:15:29 AM
3 votes:

Ass Exploder: Does anyone seriously not understand that the federal government PRINTS MONEY and CANNOT POSSIBLY RUN OUT OF MONEY?

That there is not a limited supply of money in the world, it is printed and created out of nothing by the government?


Please tell me you're not this dumb.

Imagine two different scenarios:

* There are precisely ten dollar bills in the entire world. My product costs one dollar. You want to buy it. You have to amass ten percent of all the dollar bills in the world to do so.

* There are one million dollar bills in the world for every man, woman, and child. My product still costs one dollar. You only have to amass 0.0001 percent of the average wealth of a human being to purchase my product.

The value of a dollar varies. If you print more, they are easier for *somebody* to obtain (whether it's the trillionaire hoarding it all in a bank somewhere, or the bum who found one in a gutter.) Ergo the value is less. If you print less, they're harder for somebody to obtain, hence they have a higher value.

Printing more money doesn't fix anything.
2012-10-04 11:02:56 AM
2 votes:

iheartscotch: I know you guys really don't like bush; but I like his idea for individual accounts; where you put your money and you have control over it after you are retired. If you have to pay into that account over a lifetime; you'd be set. And the government could still use that money for it's own purposes; as long as they paid 3% interest, and they guaranteed the account for the entire amount of money inside.


That doesn't functionally fix the problem any more than just telling Congress to stop farking picking money out of the savings fund and leaving IOUs.

Also, that idea completely eliminates the entire concept of it being a guaranteed safety net. If I have to put my own money in and I get 3% back why wouldn't I just open another IRA and enjoy tax benefits and more flexibility?
2012-10-04 10:59:05 AM
2 votes:
I know you guys really don't like bush; but I like his idea for individual accounts; where you put your money and you have control over it after you are retired. If you have to pay into that account over a lifetime; you'd be set. And the government could still use that money for it's own purposes; as long as they paid 3% interest, and they guaranteed the account for the entire amount of money inside.

/ but something that simple and sane will never happen
2012-10-04 10:58:46 AM
2 votes:
So everything for the old people now. The Soon to be old people will get everything as well when we still cant afford it. Then my generation will be left with nothing but but higher taxes and no services. Thanks you age pandering asshats
2012-10-04 10:52:16 AM
2 votes:
Xzibit for Treasury Secretary!
2012-10-04 02:20:50 PM
1 votes:
SOCIAL SECURITY, EXPLAINED

You
: Pantubo, here's $100,000. Please give it back to me, with interest, when I retire.
Me: Sure!

[next day]

You: Nice Ferrari! Wow! Hold on... did you spend my money on a Ferrari?
Me: No, you ignorant slut. I loaned the money to Pantubo Incorporated, and they bought it. Don't worry, they left a signed IOU and everything.


You: I see that's your signature. But, OK. I take it this car will help the business? Maybe impress some clients or something?
Me: Ha! No. We just pick up garbage in the neighborhood.

You: That's alarming. But, OK, as long as the business is profitable.
Me: Are you insane? We are $16 trillion in the hole, and we lose another $1.5 trillion per year.

You: I am officially terrified. How on Earth are you going to get me my $100K plus interest?
Me: Well, hopefully you will die soon. If not, we'll just jack up the garbage collection fees.
You: But I live here. How much more will I have to pay?
Me: Shouldn't be much more than $100K when all is said and done.
2012-10-04 01:19:48 PM
1 votes:
Has anyone pointed out that we've temporarily cut the payroll tax that pays for Social Security the last couple years? You'd think that that might be having some sort of effect.
2012-10-04 12:22:46 PM
1 votes:

Ass Exploder: Does anyone seriously not understand that the federal government PRINTS MONEY and CANNOT POSSIBLY RUN OUT OF MONEY?

That there is not a limited supply of money in the world, it is printed and created out of nothing by the government?


There is nothing federal about the federal reserve that prints our money. It's a private company that prints and controls the US dollar. They basically sell the cash to the US government. Almost 75% of our national debt is owed to these robbers. The creation of the central bank known as the federal reserve has done nothing, but damage the value of the dollar and send us into ever spiraling debt. JFK tried to shut it down and have the government print the money themselves like how it use to be, but look what happened to him.
2012-10-04 11:41:08 AM
1 votes:
Hey Farkers! How's all this hopey--changey stuff working out for you?
2012-10-04 11:20:15 AM
1 votes:

Brostorm: Ass Exploder: Does anyone seriously not understand that the federal government PRINTS MONEY and CANNOT POSSIBLY RUN OUT OF MONEY?

That there is not a limited supply of money in the world, it is printed and created out of nothing by the government?

Yes, and money has a static vale that never changes. Are you an idiot?


No, he's not. It's been policy for years to print more dough, which is one of the leading factors of the dollar losing its value.

Believe you me, everyone will get everything they put in to social security back out-- it will just be essentially worthless.
2012-10-04 11:13:04 AM
1 votes:

Rich Cream: Brostorm: People have been getting way more in benefits than they payed in for.ever.


Both my parents died at age 65. Tell me again about how everyone gets more than they pay in again?



again-again. That means do it four times.
2012-10-04 11:10:55 AM
1 votes:

GranoblasticMan: By the entire world? Yeah. I honestly can't think of a single country that doesn't use fractional-reserve banking.


Fiat currency. Giving poor people access to food and distractions since the wealthy figured out it was a good idea.©
2012-10-04 11:10:17 AM
1 votes:
Ass Exploder

Does anyone seriously not understand that the federal government PRINTS MONEY and CANNOT POSSIBLY RUN OUT OF MONEY?

That there is not a limited supply of money in the world, it is printed and created out of nothing by the government?


Where does the money to create the materials that the money is made from come from anyway? It's not like they pick it up at a dollar store.

We're losing money to print more money causing paper cash to actually lose the value that's printed on it since there's more out there.

Brilliant. I wonder how much my savings will be worth in 20 years
2012-10-04 11:09:39 AM
1 votes:
WAIT!!!! I saw an article in Time Magazine that said SS was $110 billion in the black this year, and will continue in the black for next 10 years or so.

So much misinformation here.
2012-10-04 11:07:39 AM
1 votes:
If only there was some sort of income limit on paying the social security funding tax that could be raised.

If only.
2012-10-04 11:07:08 AM
1 votes:
The beginning of Idiocracy?
2012-10-04 11:06:01 AM
1 votes:
Retarded right wing blog bullshiat. SS almost always pays out more than it collects in payroll taxes, especially when unemployment is at 8%. These taxes are invested by the SS Trust.

But it's pretty darn good trollin'!
2012-10-04 11:03:44 AM
1 votes:
Well then the SS funding shortfall gets pulled from the general fund. Not paying the obligations of the SS trust fund is akin to halting interest payments on the federal debt.

Regardless, the reason there's a funding shortfall now is that unemployment is so high and wages for those lucky enough to have jobs have been stagnant for 30 years. But you keeping harping on mythical problems and mythical solutions involving tax cuts for rich people, submitter - I'm certain one of them will sleep with you sometime this millennium.
2012-10-04 11:03:06 AM
1 votes:
"This currency is backed by the full faith and credit of the United States Government."

And nothing else.

At ALL.

Ah, ha ha. Ever get the feeling you've been cheated?
2012-10-04 10:58:36 AM
1 votes:
Does anyone seriously not understand that the federal government PRINTS MONEY and CANNOT POSSIBLY RUN OUT OF MONEY?

That there is not a limited supply of money in the world, it is printed and created out of nothing by the government?
2012-10-04 10:56:09 AM
1 votes:
It's planned to operate in the red. It's why they raised taxes on the Boomers in the first place; they knew this was gonna happen decades in advance.
2012-10-04 10:55:12 AM
1 votes:
We're all going to be picking up trash in a Walmart parking lot when we're 90 aren't we?
2012-10-04 10:54:42 AM
1 votes:

RumsfeldsReplacement: Don't worry. Once 0bummer is out of office, we'll cut taxes and balance the budget then there will be higher employment, higher wages, which mean Social Security will be saved.


He won't lower taxes! he's gonna lower rates! those are totes different words!
2012-10-04 10:53:26 AM
1 votes:
Don't worry. Once 0bummer is out of office, we'll cut taxes and balance the budget then there will be higher employment, higher wages, which mean Social Security will be saved.
 
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