Archive for the ‘social-security’ Category

From Damian Paletta at the Wall Street Journal

The Social Security Administration has begun warning the public it cannot guarantee full benefit payments if the debt ceiling isn’t increased.

When asked by the public, the agency is notifying beneficiaries that “Unlike a federal shutdown which has no impact on the payment of Social Security benefits, failure to raise the debt ceiling puts Social Security benefits at risk,” according to a person familiar with the agency directive.

The warning was assembled after the agency consulted with the Treasury Department, which would play a lead role in determining how the government handles payments if the borrowing limit isn’t raised soon.

“Our employees started receiving questions from the public, so the agency worked with Treasury to provide an answer they could use when asked about the debt ceiling by the public,” a Social Security Administration spokesman said.

In 1937 the Roosevelt administration had to defend the Social Security Act and did so by stating before the Supreme Court that the inanely named FICA was simply a tax with no contract of benefits accruing to the payers and thus legal under government’s taxing authority. Sounds ;ike Justice Roberts” reasoning in the Obamacare fiasco, doesn’t it? The 1937 case was .

Obama is trying to fulfill the Cloward-Piven Stategy which is actually a blueprint for despotic communism. The idea of a equal living income for everone has a major flaw, who pays?

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Here is House Budget Committee Chairman Paul Ryan (R., Wis.) explaining the nature of the debt crisis in the United States, on Fox News.

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The road to Hell is paved with good intentions. But shouldn’t it be paved with bad intentions? Andrew Klavan investigates.

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There are two crises facing Social Security. First the program has a gigantic unfunded liability, largely thanks to demographics. Second, the program is a very bad deal for younger workers, making them pay record amounts of tax in exchange for comparatively meager benefits. This video explains how personal accounts can solve both problems, and also notes that nations as varied as Australia, Chile, Sweden, and Hong Kong have implemented this pro-growth reform.

One cannot reform a Ponzi scheme by making it more expensive or less lucrative, and the dearth of new participants dooms a Ponzi scheme of any sort. The only real solution is to give workers control over their own funds and to keep them away from Congress.

Update! Could this link be the reason for the obsession about BMI?

 

 

 

Downwards

Quantitative Easing II (or QEII), the pumping of $600,000,000,000 into the economy without any wealth creation, was, I think intended to get companies to spend the cash they are sitting on while they wait to see what the rules (taxes) will be before making any projections or planning how to use it. I’m quite sure that the knowledge their money will depreciate in purchasing power by 20% in the next few months will cause them to at least rethink their positions. Whether it will actually stimulate spending is less certain.

One thing is sure. It is going to infuriate anyone we owe, bondholders, those holding dollars, or that we have promised money. And as it trickles down to the general population and they notice everything is 20% higher there is going to be a lot of finger pointing going on in the political class. Hopefully it will cause that “screwy idea”/sarc of auditing the Federal Reserve to come to fruition. You do notice that the official announcement was held until after the election?

Time to review that Cloward-Piven strategy again.

Here are some links to “enjoy”/sarc:

Dollar at Risk of Crashing, Triggering Inflation

Brazil Ready to Retaliate for US Move in Currency War

U.S. dollar printing is huge risk -China

Germany Concerned About US Currency Moves

Fed bond move spurs backlash from Asia to Europe

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Voter Fraud is a destroying the election process and why True the Vote is committed to fighting it.

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