Welcome Guest [Log In] [Register]
Welcome to Campfire Soapbox. We hope you enjoy your visit.


You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free.


Join our community!


If you're already a member please log in to your account to access all of our features:

Username:   Password:
Add Reply
Greenspan Says SS Is Not The Big Problem..
Topic Started: Feb 16 2005, 11:50 AM (672 Views)
BuddyIAm
Member Avatar
Member
Chris/Banan says:

No, there is no trust fund, hasn't been for years, all IOUs, government owing the government, all borrowed to build bigger government.

Buddy says:

They are not IOU‘s. The SS purchases FED bonds.

These bonds ARE MARKETABLE ON DEMAND..

These bonds are backed by the full faith and credit of the USA.

Those are Greenspan’s words from his testimony this week..

SS doesn't guarantee every one retirement.


ONLY THOSE THAT CONTRIBUTE..

Each able bodied person makes a retirement based on his or her contribution.

The only portion of SS that was meant to be temporary.

Was the funding BY THE GOVERNMENT OF those who were to old to have participated long enough to earn a suitable retirement.. This old age benefit has basically been converted to SSI

AND SSI IS NOT SS...
"The truth lies in a man's dreams... perhaps in this unhappy world of ours whose madness is better than a foolish sanity."
"Facts are stupid things." - Ronald Regan
"Ideas are more dangerous than guns. We don't let our people have guns. Why should we let them have ideas?" --Josef Stalin
Offline Profile Quote Post Goto Top
 
cmoehle
Member Avatar
Chris - San Antonio TX
Posted Image
Politics is the art of achieving the maximum amount of freedom for individuals that is consistent with the maintenance of social order.
--Barry Goldwater
Offline Profile Quote Post Goto Top
 
BuddyIAm
Member Avatar
Member
Chris

If you plan to Socialize, warranty, and guarantee The equity markets.

(those are Greenspans Caveats).

I suppose I could support Bush’s forced savings plan as a supplement to SS..
"The truth lies in a man's dreams... perhaps in this unhappy world of ours whose madness is better than a foolish sanity."
"Facts are stupid things." - Ronald Regan
"Ideas are more dangerous than guns. We don't let our people have guns. Why should we let them have ideas?" --Josef Stalin
Offline Profile Quote Post Goto Top
 
jrf
Member Avatar
Member
I stumbled on an obscure antiwar website that had an interesting pie chart.

Currently the pie charts we see showing how the budget is distributed includes moneys taken in in SS taxes and distributed. The trust fund activities tend to dilute the appearance of other spending like the military and stuff.

Now then if we go to personal accounts that dilution effect would be lessened.

The reports or pie charts presented to the public would end up reflecting mostly how the dollar is spent that is surrendered in the form of income tax only. With social security out of the picture, our military spending starts getting to be a real big piece of the pie.

One more reason the politicians like the SS system as it is -- besides being a very nice cookie jar, it serves as a cloaking system to disguise other spending.

:(
Offline Profile Quote Post Goto Top
 
jrf
Member Avatar
Member
http://www.warresisters.org/piechart.htm

I went back in my history chache and found the link. I'm not putting stock in it, but it was interesting.

I have no idea how I found it. I was searching for a picture of Charlie Brown doing the Good Grief thing so I could post it in the SS threads. Never found one.
Offline Profile Quote Post Goto Top
 
BuddyIAm
Member Avatar
Member
J

You’ll never convince Chris..

He is in bed with that liberal Bush.. :)
"The truth lies in a man's dreams... perhaps in this unhappy world of ours whose madness is better than a foolish sanity."
"Facts are stupid things." - Ronald Regan
"Ideas are more dangerous than guns. We don't let our people have guns. Why should we let them have ideas?" --Josef Stalin
Offline Profile Quote Post Goto Top
 
cmoehle
Member Avatar
Chris - San Antonio TX
So they're saying the government shows us this...

Posted Image

when it's actually this...

Posted Image

Good grief!

You need a strong military to defend our liberties.
Politics is the art of achieving the maximum amount of freedom for individuals that is consistent with the maintenance of social order.
--Barry Goldwater
Offline Profile Quote Post Goto Top
 
pulsar
Member
Quote:
 
These bonds ARE MARKETABLE ON DEMAND


Perhaps you meant 'redeemable' on demand. Although DI has 'a few' marketable bonds, OASI has none. The special bonds held by both DI and OASI are, in theory, redeemable on demand. In practice, I doubt the Treasury could handle a demand by the trustees to redeem them all now.

Tom
Offline Profile Quote Post Goto Top
 
BuddyIAm
Member Avatar
Member
Bush has got a bag full of liberties in mind I am afraid..

Good thing he is going to run out of money.

Before he smothers the world in liberties..
"The truth lies in a man's dreams... perhaps in this unhappy world of ours whose madness is better than a foolish sanity."
"Facts are stupid things." - Ronald Regan
"Ideas are more dangerous than guns. We don't let our people have guns. Why should we let them have ideas?" --Josef Stalin
Offline Profile Quote Post Goto Top
 
BuddyIAm
Member Avatar
Member
Pulsar says:

I doubt the Treasury could handle a demand by the trustees to redeem them all now.

Buddy says.

Greenspan says they are all convertible to a marketable bond..

THE DAY THAT SS INCOME DOES NOT MEET EXPENDITURES..

And that these bonds are backed by the full faith and credit of the USA..

The real crises is.

Marketing these bonds will drive interest rates sky high, Destroying the equity market.

It is the equity market that is in crises. They are not going to wait until 2023. To realize this..
"The truth lies in a man's dreams... perhaps in this unhappy world of ours whose madness is better than a foolish sanity."
"Facts are stupid things." - Ronald Regan
"Ideas are more dangerous than guns. We don't let our people have guns. Why should we let them have ideas?" --Josef Stalin
Offline Profile Quote Post Goto Top
 
jrf
Member Avatar
Member
Sort of different pie charts huh.

Kinda spooky.

So who made breakfast, you or Bush? :laugh:
Offline Profile Quote Post Goto Top
 
wolfe59
Member
Can (and should) every "ABLE" man and woman have a guarenteed retirement? Wasn't the original SS system supposed to be TEMPORARY?


Good point Banna,
But like everyother tax once it gets started and the good folks in Washington, who are suppose to be looking out for our best interest, see how much money is generated they can't let that money go back into the workers pocket. You have to understand the folks in Washington think they know how to spend our money better than we do.
Offline Profile Quote Post Goto Top
 
BuddyIAm
Member Avatar
Member
SS doesn't guarantee every one retirement.


ONLY THOSE THAT CONTRIBUTE..

Each able bodied person makes a retirement based on his or her contribution.

The only portion of SS that was meant to be temporary.

Was the funding BY THE GOVERNMENT OF those who were to old to have participated long enough to earn a suitable retirement.. This old age benefit has basically been converted to SSI

AND SSI IS NOT SS...
"The truth lies in a man's dreams... perhaps in this unhappy world of ours whose madness is better than a foolish sanity."
"Facts are stupid things." - Ronald Regan
"Ideas are more dangerous than guns. We don't let our people have guns. Why should we let them have ideas?" --Josef Stalin
Offline Profile Quote Post Goto Top
 
« Previous Topic · Soapbox · Next Topic »
Add Reply