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customerserviceguy

(25,406 posts)

34. They're paying interest on the principle

Mon Apr 23, 2012, 09:09 PM

Apr 2012

not repaying the principle. At some point, the borrowing for that is going to get expensive, but at today's ultra-cheap interest rates, it's not a major part of the Federal budget.

Get the interest rates to where they have historically been, when a savings account would pay three to five percent, and you'll see a new unwillingness to put that bulge in the budget. Add that to the tax-holiday that will never go away, and you have the basics of a really big problem.

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Social Security heading for insolvency even faster [View all] Omaha Steve Apr 2012 OP

Does he look very attentive? or waiting for a orpupilofnature57 Apr 2012 #1

is it going to affect him? onethatcares Apr 2012 #2

Billions for Foreign Aid... Billions for War...Billions for China.... lib2DaBone Apr 2012 #3

You know how little money we spend on foreign aid? TheWraith Apr 2012 #5

What we spend on unnecessary wars, however... maddiemom Apr 2012 #38

Much foreign aid is hidden in the military budget. n/t Chemical Bill Apr 2012 #51

Its not so much as whats spent as whats not coming in. cstanleytech Apr 2012 #12

Don't take these projections too seriously. TheWraith Apr 2012 #4

While it's folly to predict anything longer than ten years away customerserviceguy Apr 2012 #19

those are my thoughts newspeak Apr 2012 #39

projections' accuracy isn't the real story, IMHO 0rganism Apr 2012 #48

and so it begins fascisthunter Apr 2012 #6

Yup. Predictable as hell. woo me with science Apr 2012 #14

Increase the cap and bring in more funds. WHEN CRABS ROAR Apr 2012 #7

Well, you can't just do that alone customerserviceguy Apr 2012 #20

I like your idea. It could induce a bit more shcrane71 Apr 2012 #45

and yet the payroll tax newblewtoo Apr 2012 #8

No means testing PSPS Apr 2012 #15

our president/congress have loads of $$$ for the military industrial complex msongs Apr 2012 #9

Yay! The whole thing is going tits up the same year I become eligible! Throd Apr 2012 #10

If Congress does nothing customerserviceguy Apr 2012 #21

what "painful action?" mike_c Apr 2012 #11

Obama's "Deficit Commission" (Simpson-Bowles) recommended a $50,000 cut in lifetime benefits MannyGoldstein Apr 2012 #27

And wasn't that before Obama cooked up the 2% cut in Social Security taxes? dflprincess Apr 2012 #33

Monsters desperately want to steal the SS pool of funds. Fire Walk With Me Apr 2012 #13

Here's a secret: It's been stolen. customerserviceguy Apr 2012 #23

Congress has been paying it back since 2009 happyslug Apr 2012 #25

They're paying interest on the principle customerserviceguy Apr 2012 #34

debt service melm00se Apr 2012 #50

:( Fire Walk With Me Apr 2012 #36

Better hide your book or they'll steal that too. radarluv Apr 2012 #37

They can default on the treasury bonds held by SS, but closeupready Apr 2012 #40

Except that those bonds are not marketable. ieoeja Apr 2012 #42

Nope. Default on them, and our credit rating is kaput. closeupready Apr 2012 #44

So don't "default." Igel Apr 2012 #46

Long before they would default customerserviceguy Apr 2012 #49

well i guess i`ll be dead by then so i`ll get mine! madrchsod Apr 2012 #16

I'll be dead then too. RebelOne Apr 2012 #17

The bipartisan war on Social Security continues MannyGoldstein Apr 2012 #18

I thought Obama killed Social Security 2 years ago. JoePhilly Apr 2012 #22

I thought Obama killed the Bush tax cuts 2 years ago. MannyGoldstein Apr 2012 #26

The difference is, my post is ON TOPIC. Yours, not so much. JoePhilly Apr 2012 #28

Rep. Conyers: Obama Demanded Social Security Cuts--Not GOP MannyGoldstein Apr 2012 #29

Except your first claim is false. JoePhilly Apr 2012 #31

So appointing the two biggest foes of Social Security to run a "deficit commision" MannyGoldstein Apr 2012 #32

Super secret maneuver!!! closeupready Apr 2012 #41

Just able to pay 75% of expected beneifts is "Exhaustion"???? happyslug Apr 2012 #24

"Trust fund exhaustion." Igel Apr 2012 #47

We simply need to raise the cap on SS funding, and eliminate the Reagan tax cuts. grahamhgreen Apr 2012 #30

capitalists and their political stooges.... unkachuck Apr 2012 #35

Set a fixed amount for everyone 4th law of robotics Apr 2012 #43