Comments on: New crop of ads has both Obama, McCain slinging mud Tracking U.S. politics Wed, 16 Nov 2016 03:39:51 +0000 hourly 1 By: Black and White Thu, 25 Sep 2008 10:51:34 +0000 It is amusing how the narrator in both advertisements sound like the same person.

And with the exact same sentence tagged on both adverts.

By: Research Thu, 25 Sep 2008 04:31:34 +0000 Also from the same website, other details are clarified. ubid=503#9

The way social security works is that $4 out of every $5 the social security tax that comes out of your payroll goes immediately to current beneficiaries, and the remaining $1 goes to buy US T Bills held in the Social Security Trust Fund.

With privatization, the benefits would immediately be cut for current Social Security recipients. This is because every dollar that gets privatized is one dollar less for current recipients and for the Trust Fund. The Social Security Trust Fund will therefore get depleted sooner.

When it runs out, either everyone’s benefits will get cut, or their taxes will need to be raised to keep Social Security alive, or Social Security will die.

Being worried about this will lead more and more people to divert more and more of their Social Security to private accounts so as not to have to depend on the Trust Fund. Therefore more of their money will be subject to the vagaries of the stock market. It it crashes, these folks will be out of luck.

By: Research Thu, 25 Sep 2008 04:18:16 +0000 Actually, Obama’s estimation that about half of the benefits would be cut is not far off, with regards to SS disability benefits, according to the website ubid=503#9

“In the principal proposals put forward by the President’s Commission to Strengthen Social Security, the reduction in disability benefits was draconian, with cuts ranging from 19 percent to 47.5 percent after the year 2030. Economists Peter A. Diamond (MIT) and Peter R. Orszag (Brookings) have noted that the disabled would have limited ability to mitigate the effects of these benefit reductions by securing income from individual accounts. One reason is that their individual accounts often would be meager, since those who become disabled before retirement age may have relatively few years of work during which they could make contributions to their accounts….”

Other benefits would decrease as well, because of the cost of establishing these accounts:

“The government would need to establish and track many small accounts, perhaps as many accounts as there are taxpaying workers-147 million in 1997. Francis X. Cavanaugh, who has supervised the thrift savings program for federal employees, has argued that the costs of administering so many small accounts would overwhelm any benefits to be gained from the stock market. …The plan would result in high transition costs, with the midline estimates to be in the vicinity of over $2 trillion over 10 years. For workers, privatization would mean smaller social security checks…

“Privatizing Social Security will escalate federal deficits and debt significantly while increasing the likelihood that national savings will decline-all of which could reduce long-term economic growth and the size of the economic pie available to pay for the retirement of the baby boom generation.”

By: Jennifer Wed, 24 Sep 2008 07:19:54 +0000 I think that Obama brought the wrath of negative ads on himself when he attacked Mccain about the very things he said were over the top and vicious. Obama is right in saying that he is from chicago dirty politics and I personally do not like the direction this country is going in and Bush and his clan should all go to jail along with this give Bush everything he asks for democratic congress but Obama is untrustworthy and a liar saying that he would run a different type of campaign and fooling the people with his holier than thou hope slogan that was all a political ploy. I think that he is unqualified to president and is the more dangerous of the two candidates.

By: andyt Tue, 23 Sep 2008 20:41:52 +0000 McCain thinks that calling for the firing of Cox, and his parroting of Obama”s plan is being proactive.

With international confidence hanging on a thread last week, both candidates should have had the restraint with their objections and allow Bernanke and Paulson to come out with ONE VOICE from America. Barack Obama, despite having long proposed a plan to avoid this crisis and take us out through commonsense regulation, kept mum so that Paulson and Bernanke could assuage frayed nerves internationally. On the side you have McCain mouthing off, creating all sorts of distractions and problems for the administration. What John McCain did not understand about his actions was that if confidence continued to spiral as a result of his impulsive words, the 700 billion bailout package would not even be enough to solve the problem. it”s a good thing he now finally recognizes the wisdom of Obama”s economic philosophy, but his pattern of being Johnny come lately on a range of issues that have been the hallmarks of Obama”s campaign is becoming a pattern. However, McCain”s impulsive and unpresidential behavior at a time of national crisis raises questions about his commitment to national interest above his own political interests. Now he comes upto say Obama has no plan? So he put the country at risk to score political points last week with his nonsense, and now is trying to make Obama look bad for doing the right thing? ABSURD.