Dennis Kucinich "It's A Fake Crisis, Social Security Did NOT Create The Deficit!

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Dennis Kucinich "It's A Fake Crisis, Social Security Did NOT Create The Deficit!

Dennis Kucinich "It's A Fake Crisis, Social Security Did NOT Create The Deficit! It Will Be Able To Pay 100% Of Benefits Through 2037!" (Video)

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http://dailybail.com/home/dennis-kucinich-its-a-fake-crisis-social-security-did-not-cr.html

Edited by admin on 11/08/2014 - 06:05
rassillon
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Dennis Kucinich is stupid.

Dennis Kucinich is stupid. There is no "trust fund". The "trust fund" is basically a big IOU and an IOU from someone who is broke and in debt up to his ears is basically no good.

Big Rocks
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kucinic is correct

The SSTF holds approx. 3T$ is UST bonds.  That's part of the 14T$+ debt.  It's fully funded for 25 years or so.  To not pay the SSTF for their Treasury bonds would be a default just the same as not paying any other treasury bond holder.  so if we default across the board then Ok but otherwise the fund is solvent and not the cause of the deficit.  We've taken in more in SSI every year until this past one and the excess income is what made the trust fund.  It's the only govt. program that paid for itself and returned the money to the people.  What do you want to do give that money to the banks too?  There's so many other places to cut and so much waste and corruption and pork and sacrosanct military pigs gorging themselves on govt. largesse while sending our best young people to die and kill innocent civilians in the name of war on terror.  This is all about world domination and we need this financial system and oil to finance the war machine, while all those in power feast of the backs of the people of the entire planet.  I'm not a lefty but people should  be able get a decent job and pay for their work and not give it all to the govt. to redistibute to their cronies, throw their sheep (tea partiers, free shit people) a few bones while those well connected get off with all the gravy, govt largesse, influence peddling and petty power brokering.

SS is the 3rd rail in politics and with the Boomers retiring now they represent way too much political firepower to mess with.  However that does not exclude using a depreciated currency to pay it back and it doesn't mean Medicare can't be cut back substantially-it pays for too many things that are either unnecessary or just plain unaffordable.

Anyway it don't matter the people will get f---ked you can count on that.  The 2 party system is a charade and a failure.  protect yourselves and good luck

rassillon
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Big Rocks wrote: The SSTF

Big Rocks wrote:

The SSTF holds approx. 3T$ is UST bonds.  That's part of the 14T$+ debt.  It's fully funded for 25 years or so.  To not pay the SSTF for their Treasury bonds would be a default just the same as not paying any other treasury bond holder.  so if we default across the board then Ok but otherwise the fund is solvent and not the cause of the deficit.  We've taken in more in SSI every year until this past one and the excess income is what made the trust fund.  It's the only govt. program that paid for itself and returned the money to the people.  What do you want to do give that money to the banks too?  There's so many other places to cut and so much waste and corruption and pork and sacrosanct military pigs gorging themselves on govt. largesse while sending our best young people to die and kill innocent civilians in the name of war on terror.  This is all about world domination and we need this financial system and oil to finance the war machine, while all those in power feast of the backs of the people of the entire planet.  I'm not a lefty but people should  be able get a decent job and pay for their work and not give it all to the govt. to redistibute to their cronies, throw their sheep (tea partiers, free shit people) a few bones while those well connected get off with all the gravy, govt largesse, influence peddling and petty power brokering.

SS is the 3rd rail in politics and with the Boomers retiring now they represent way too much political firepower to mess with.  However that does not exclude using a depreciated currency to pay it back and it doesn't mean Medicare can't be cut back substantially-it pays for too many things that are either unnecessary or just plain unaffordable.

Anyway it don't matter the people will get f---ked you can count on that.  The 2 party system is a charade and a failure.  protect yourselves and good luck

Not trying to start a big argument here.

You use the word "solvent", that is technically true, technically. However what I stated above holds true. The SSTF holds debt. Debt is not money and is only valuable as long as the entity which holds the debt can pay. It would have been much better if the SSI surplus had been paid into an actual account but it wasn't. Banks were solvent until they weren't. Let's see what happens when SS tries to collect on that debt....What, you're broke and can't pay me back....oh sure...you will pay me you just need some more time, right got it....

SS did not return money to people, the excess was spent on other government programs which I don't agree with (there are laws about co-mingling of funds and they should apply to the gov too) What SS did do is take from one person and give to another person (redistribution). Fact is it is a flawed program, you can't say "well, up until now". It only worked with the increasing population and economic expansion. This is just unsustainable. Additionally it crowed out volunteer programs which helped provide for many.

Regarding the mentioning of other programs, it is not an either/or issue. All that crap needs to be cut too.

We will likely disagree in this, but that is fine too.

Big Rocks
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Rassillon

no argument here. if the US doesn't pay it's debts you are correct.  but since they can and will even if it's helicopter money then that's what will happen.  If you don't think a US treasury bond is worth anything so be it.   But SS did not cause the deficit crisis if anything it helped keep the govt cashed up for many years.  if you think the boomers will sit back quietly and let the govt. default on SS think again.  Not only is it political suicide but the boomers as you may recall were the last generation in this country to take a political agenda to the streets and they'll do it again if SS is not there for them.

BTW even Ron Paul thinks SS is a good program and should be saved.

pourty
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It's not a 'good program'

I doubt Ron Paul thinks it's a 'good program'.  I think the point is that Americans have been forced to take part in it, and it would be adding insult to injury or worse to not pay back something to those who have been paying into it their entire lives.

I like the idea of letting anyone under <insert age here> opt out, and then overhauling the entire thing to make it solvent for the long term.

Big Rocks wrote:

no argument here. if the US doesn't pay it's debts you are correct.  but since they can and will even if it's helicopter money then that's what will happen.  If you don't think a US treasury bond is worth anything so be it.   But SS did not cause the deficit crisis if anything it helped keep the govt cashed up for many years.  if you think the boomers will sit back quietly and let the govt. default on SS think again.  Not only is it political suicide but the boomers as you may recall were the last generation in this country to take a political agenda to the streets and they'll do it again if SS is not there for them.

BTW even Ron Paul thinks SS is a good program and should be saved.

rassillon
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Yes, stealing from SS did let

Yes, stealing from SS did let the government spend even more money on other useless things. Heliobucks are inflated bucks and in my opinion a default of sorts. The CPI is being manipulated to keep COLAs down, I know, my dad gets SSI and it is getting tougher for him to get by. Good thing he was a saver and has me for a son (I give him money every month). Why aren't they taking to the streets over that? Probably because most don't get it and I doubt most will get the issue at hand and those that get it probably have prepared otherwise.

I believe the last poster represented RP's view of SS correctly.

I agree that it is political suicide, however, something has to be done, and I am not just talking about SS, but it is in there too. Sorry but the Keynesian experiment is about over here in the US for now.

The US defaulted in 71, they promised to pay gold, then they reneged. If it is by straight up defaulting or by printing they will do it again.

It will make for some great fireworks!

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