I don't trust Obama with my retirement insurance, do you?/ Sam Seder

[sasha031]

Source: Huffington Post

Contemplate what this statement means: "Most of our long term debt and deficit has to do with Social Security". It's a pretty banal falsehood. Social Security has never contributed a dime to any deficit or debt. It's fully self-funding and has been for the past 70-plus years. Even in the worst-case scenario, where we don't lift the cap on payroll taxes, Social Security won't contribute to the debt or deficit - it will merely pay 75% of due benefits after the year 2037.
What's truly stunning, and should be terrifying to the 85% of Americans who oppose Social Security cuts, is who believes that "most of our long term debt and deficit has to do with Social Security".
Whomever believes this statement to be true, or claims to believe it true, or would actually utter it, is not someone I trust to guard my Social Security. That person would have to be a liar, or someone looking for an excuse to raid Social Security to pay off unpaid bills. Unpaid bills that have come from lost revenues. Revenues lost from, say, tax cuts for millionaires.
The President of the United States believes that the fully-self-funding Social Security program contributes to the deficit and the debt. He said as much just the other day on NPR . He believes it so much that he wants to prove it to you by selling a you a tax compromise, which will, for the first time since I've been alive anyway, actually cause Social Security to contribute to the deficit. His compromise includes a 2% Social Security Payroll Tax "holiday", which will be made up from General Fund revenues.

Read more: http://www.huffingtonpost.com/sam-seder/i-dont-trust-obama-with-m_b_796686.html

---

I don't trust him with my retirement insurance, do you?

[Name removed]

1. Deleted message

Message removed by moderator. Click here to review the message board rules.

[dkf]

2. How can you trust social security period when you know what they were spending our funds on?

It was all an excuse to get their hands on more taxes while pretending they were oh so safe.

Besides it doesn't matter what Obama does unless he changes rules for current reviewed. Anything he does for future retirees can be changed in an instant.

[lumberjack_jeff]

3. "Most of our long term debt and deficit has to do with Social Security"

In exactly the same way that much of my long term debt has to do with my mortgage.

In other words, our debt isn't caused by Social Security, but financed by it.

[Bigmack]

4. Oh no, DON'T trust the gubmint with

your retirement money. Trust the bankers and the investment brokers. They're LOTS more responsible and WAY more honest. Here, have another toke...... We're f'ed whichever way we send the $. Ms Bigmack

[Common Sense Party]

6. At least I know my broker. And I can fire his ass if I don't like what he does.

And at least we have a plan.

My Congressman? I can't fire him, I don't know him, and he has no plan for the nation's finances. I'm not sure why he has a job.

[Javaman]

11. Where does he say anything about trusting the bankers?

:shrug:

[treestar]

5. It's the government as a whole, any President

It is a Republican idea that the government should not be trusted with money.

[walldude]

9. It's a Republican idea that the government shouldn't be trusted

with money. Well if thats true then they are finally right about something. Pentagon: Missing 2 TRILLION dollars. Iraqi Reconstruction: Missing 15 Billion dollars.

Yeah fiscal responsibility is awesome. And thank god the Democrats are in office they'll get to the bottom of that missing money :rofl: :rofl: :rofl:

[Kablooie]

7. Most of the debt and deficit comes from the wealthy not paying their share.

That is the whole basis of our problem.
Until that is fixed, nothing else will be and destruction of our lives will continue.

[fasttense]

8. 3 things have caused our federal budget deficit.

1. The 2 or 3 useless wars we are currently fighting.

2. Tax cuts for the uber rich.

3. The recession/lack of jobs/people not working.

Social Security does not add to the deficit.

[Javaman]

12. Fix the first two and the 3rd fixes itself. nt

[Javaman]

10. I trust no politician when it comes to "fixing" SS. nt

[Poboy]

13. Tell it Sammy. No way do I trust this president with anything, anymore, let alone

my retirement. In fact, not only do I not trust him, I am EXPECTING and anticipating having to openly fight him to save it from him trying to destroy it!

[Poboy]

14. Sams podcast on Wednesday December 15, 2010

is a fantastic listen on this subject-
http://majority.fm/

[lame54]

15. I simply don't trust him...

and that breaks my heart