Comments on: Questions, but no answers, from Obama on Social Security Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 By: texas100 Tue, 02 Oct 2012 20:37:46 +0000 For all the rhetoric on which party is worse for Social Security, the real truth is that neither Obama or Romney, or the Dems or the Repubs can or will do much to change it. Why, because Congress controls what happens to SS, no one else.. And Congress is split, badly..

Obama knows that he’ll have to accept a SS ‘deal’ with lower benefits to get his tax plan, he’s just not admiting it because if he does – He Loses; Romney also knows Congress will never ‘privatize’ SS, AARP would never go for it – He’s already Lost; it’s all just Campaign BS..
Here is what is going to happen regardless of which of those 2 clowns in in the whitehouse;
– Higher payroll and medicare taxes (2013);
– Higher tax cap on SS along with a gradually increased retirement age and lower COLA (2014);
– Higher Income Tax rates for middle class and the Rich (2013);
– Higher Cap Gain tax rate for investment income (2013);
– Sluggish growth and high Unemployment >8% (2013 – ?);
– Significantly lower Fed Spending, but not lower than 22% of GDP which becomes the ‘new norm’ (2014);
– Economy falls back into recession by 2014;
– Inflation increases to 4%/year by 2014;
– Hillery announces in late 2014 she’s forming ‘a committee to explore a potential candidacy’…
– Obama endures 4 more years of gridlock, no growth and increasing inflation and becomes universally recognized as a failed president.. with 8 years of no meaningful accomplishments..
– America suffers from 16 years of ‘bookend presidents\'; two Losers in their own way.. End of Story.. Very sad..

By: sangell Mon, 01 Oct 2012 03:59:57 +0000 Obama is crushing the social security trust fund right now through the zero interest rate policies of the Federal Reserve Bank. Yields on contributions to the fund are falling below the ‘official’ rate of inflation right now.

Such reductions in interest income can only be made up be cutting benefits or raising FICA taxes.

By: paintcan Mon, 01 Oct 2012 01:45:45 +0000 I am amazed that many still have the idea that privatized Social Security accounts would actually work for very long. There used to be a rule of thumb investors would use. My father told me this: Don’t risk any money you can’t afford to loose. So I never invested because I never thought I had any money I could afford to loose. Of course, now, I have very little money,period! Maybe I under-did it?

If Social security funds were privatized then the entire economy of the US and perhaps the world would have to be put under even stronger than Chinese government regulations to ensure there could never be a crash.

People should become used to the idea that money is an abstraction. It is part substance and part idea and the part that is idea – the bulk of it’s existence in any modern economy – is actually a matter of numbers in ledgers. They can vanish in an instant. It is subject to rumors and innuendo and panic attacks. I have a hunch some of it is so insubstantial it doesn’t even live long as ink on paper or even electronic charges on hard drives.

And the trouble with precious metals is they cannot easily be made abstract enough to prevent the world from sinking to dark ages levels of economic activity. And they can be subject to panic attacks too. Precious metals can become too valuable. The housing crash is proof that anything can be made too valuable. And nothing has value if there aren’t enough people who want it at the price you want.

I think Bill Clinton is right that this country needs a vibrant middle class or the whole economy will, sooner or later, collapse on itself. Social Security helps to support a middle class.

By: weneedchange Thu, 27 Sep 2012 20:00:37 +0000 Take the cap off of wages subject to social security. That solves the vast majority of its problems.

By: jcfl Thu, 27 Sep 2012 19:11:13 +0000 how do you compare one party who pledges to eliminate social security (and all other public programs) with another party who understands it has to continue and will do whatever is necessary to maintain it?