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Here it comes..................................

Discussion in 'Politics, Elections & Legislation' started by wireguy, May 16, 2011.

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  1. wireguy

    wireguy TS Member

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    http://www.foxnews.com/politics/2011/05/16/government-hits-debt-ceiling-treasury-urges-lawmakers-reach-budget-deal/

    First it's Federal retirement accounts. Your 401K is next, then your savings. But not to worry, they are going to make your accounts "whole" just like they did with social security funds when they stole those.
     
  2. GW22

    GW22 Active Member

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    Think he's wrong, or exaggerating? For those of you too young to remember, Social Security started out as a Trust Fund and then the Federal Government literally stole the money and pissed it away. They made it "legal" of course, but the bottom line is the money was "borrowed" and SS was turned into a pure Ponzi Scheme that will no longer be able to meet its obligations within the next decade.

    -Gary
     
  3. grnberetcj

    grnberetcj Active Member

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    LBJ and his ilk!!

    Curt
     
  4. sliverbulletexpress

    sliverbulletexpress TS Member

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    We should never forget or forgive who and what party put SS deposits into the General Fund. I will never believe SS would be "bankrupt" if it had been left alone. Of course the money for the social programs started at that time would have had to come from higher taxes but it was easier to steal it from our SS deposits.
     
  5. GW22

    GW22 Active Member

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    And guess what?... The same two parties who were in power when this abomination took place are in power today as we hit the $14.3 Trillion debt ceiling.

    -Gary
     
  6. timberfaller

    timberfaller Well-Known Member

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    And guess who in the news media was "informing" the public?

    NONE

    Birds of a feather flock together!

    Three blind mice!
     
  7. Traders

    Traders Well-Known Member

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    I have been told that the SS trust fund was the extra money paid in over what was paid out. And, that these extra funds were invested in US Government interest bearing bonds Is this true.
     
  8. wireguy

    wireguy TS Member

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    Yes that's true, but guess who has to pay those bonds? The same taxpayers they stole the money from in the first place. This would be like me "borrowing" your money and telling you don't worry though, you will pay you back. Setting aside verbal nonsense and accounting tricks the money was stolen.
     
  9. Brian in Oregon

    Brian in Oregon Well-Known Member

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    Deplorable Bitter Clinger in Liberal La La Land
    "A government which robs Peter to pay Paul can always depend on the support of Paul."

    - George Bernard Shaw (1856-1950) Irish playwright
     
  10. Traders

    Traders Well-Known Member

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    wireguy,

    Do you have any idea what the SS trust fund money was invested in before they started putting the money in US government bonds.
     
  11. Leo

    Leo Well-Known Member

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    My 401k has already been raided buy the federal mortgage scam and the Merrill Lynch people who have already been rewarded by the Federal Government. Where will the insatiable dragon get rich next, selling my blood?
     
  12. wireguy

    wireguy TS Member

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    The money was stolen, period. The question of how they invested the money is irrelevant. Does it really matter how they invested the money they stole? Is it to be rationally expected that the thieves who stole the money were going to be diligent stewards of it? Is it OK if the junkie who breaks in to your home and steals your jewelry sells it at the pawn shop for 5 cents on the dollar as long as he doesn't buy drugs with the money? Or is the only question worthy of debate the question of money stolen from the citizens by people who knew full well they would steal it from the "trust" fund?
     
  13. Traders

    Traders Well-Known Member

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    wireguy,

    This is really hard for me to understand and I am sure trying. Do you think that the money was stolen from the citizens paying into the trust fund by forcing them to pay too much for SS benefits? Or, do you think it was stolen from the trust fund itself and that there are no assets in the SS trust fund?

    If it's true, as you indicated in a previous posting, that the trust fund money is invested in US government bonds, perhaps they should have bought gold.
     
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