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View Full Version : Obama: All that money Seniors paid into SS all these years, is gone



Little-Acorn
07-12-2011, 05:37 PM
Finally, the President of the United States has admitted what conservatives have known for years: All the stories about the money you paid into Social Security being put into an account with your name on it to wait for you, were lies. The money is gone.

Obama told a CBS News reporter today:

"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it," Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News.

If there were any senior citizens (or younger citizens for that matter) who were still clinging to the fond belief that government could be trusted to take care of them in their old age, I hope they are listening.

The Federal govt had something they called a "Social Security Trust Fund". It supposedly held the money you paid in. Well, now we know it was misnamed: all the money is gone.

Even if government manages to duck the present bullet and somehow borrow even more money to pay these seniors with, the same problem is likely to come up next week. Or next month. And sooner or later, THE GOVERNMENT WILL EXHAUST ITS CREDIT, AND NOT BE ABLE TO BORROW ANY MORE.

And when that happens, seniors now know who the President will cut off first.

Kathianne
07-12-2011, 11:29 PM
Finally, the President of the United States has admitted what conservatives have known for years: All the stories about the money you paid into Social Security being put into an account with your name on it to wait for you, were lies. The money is gone.

Obama told a CBS News reporter today:

"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it," Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News.

If there were any senior citizens (or younger citizens for that matter) who were still clinging to the fond belief that government could be trusted to take care of them in their old age, I hope they are listening.

The Federal govt had something they called a "Social Security Trust Fund". It supposedly held the money you paid in. Well, now we know it was misnamed: all the money is gone.

Even if government manages to duck the present bullet and somehow borrow even more money to pay these seniors with, the same problem is likely to come up next week. Or next month. And sooner or later, THE GOVERNMENT WILL EXHAUST ITS CREDIT, AND NOT BE ABLE TO BORROW ANY MORE.

And when that happens, seniors now know who the President will cut off first.

More relevant, we all know the money to pay SSI, Medicare are there, in revenues. The choice of where to spend the money if debt ceiling is NOT raised is up to Obama. Guess who he will screw?

fj1200
07-12-2011, 11:37 PM
If only we had elected Al Gore. His lockbox would have saved us all.

logroller
07-13-2011, 04:33 AM
Wait....social security is NOW in trouble ??? Thought that was a forgone conclusion; forecasted years ago using basic math.

KarlMarx
07-13-2011, 10:14 AM
I am getting so tired of this. Obama and the Democrats dig their heels in, point the finger of blame at the Republicans, hold old people hostage, and the American electorate buys into it.

They missed their calling, they ought to be hijacking planes, robbing banks, and kidnapping people, they would make a fortune.

2245

CSM
07-13-2011, 10:36 AM
I am getting so tired of this. Obama and the Democrats dig their heels in, point the finger of blame at the Republicans, hold old people hostage, and the American electorate buys into it.

They missed their calling, they ought to be hijacking planes, robbing banks, and kidnapping people, they would make a fortune.

2245

They are already making a fortune doing exactly as you describe while wearing the mantle of government.

red states rule
07-15-2011, 04:39 AM
More relevant, we all know the money to pay SSI, Medicare are there, in revenues. The choice of where to spend the money if debt ceiling is NOT raised is up to Obama. Guess who he will screw?

Kat everyone knows that to be true, but the liberal media and loyal Obama foot soldiers will never admit it

Republicans need to stand firm, not give in, and lets see what happens on August 4, 2011 if the debt ceiling is not raised

The sun will still rise in the morning, life will go on as usual. the sky will not fall, the economy will not collapse, and Obama will have to explain why all of the doom and gloom that he said would happen did not happen