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Social Security IS a Ponzi scheme

Gov. Rick Perry was catching hell for having the nads to state the obvious: Social Security is, by its very nature, a Ponzi scheme.  The same thing for which Bernie Madoff and Nevin Shapiro went to prison is exactly how our government runs Social Security.  Economist Dean Kalahar explains, an excerpt of which follows:

In simple terms the FICA program is a pyramid or Ponzi scheme. In the fraud, people on the top of the pyramid collect as long as they can get others below them to pay in. Now as the baby boom retires, the takers outstrip the payers. And like all Ponzi schemes, this is when the system will collapse like a house of cards and take with it the American economy.

The day of reckoning is here. Not even the all powerful OZ can spend other people’s money, write an IOU to himself, and then on some future day expect to use those IOUs to fund the Emerald City. It’s time to pull back the curtains and admit “the emperor has no clothes.”

The good news is that it’s in everyone’s self-interest; liberals, conservatives, left, right, Democrat and Republican, to stop in the runaway train and de-energize the third rail before it runs us over. All aboard!

An ostrich just called to say he doesn’t seen anything.

September 6, 2011 Posted by | economic ignorance, Social Security | 4 Comments

Obama: Social Security checks may not go out if debt ceiling not lifted. Social Security chief: That’s your call, pal, not mine!

B.O., in his crusade to economically ruin the nation that he both runs and loathes with every fiber of his being, has resorted to trying to rattle the geezers by telling them that if he doesn’t get his big-government tax hikes, Grandma and Grandpa may not be getting their SS checks.

Stephen Goss, chief actuary of SS, basically says “Dude, that’s your decision in general, and Turbo Tax Timmeh’s decision in particular.”

July 13, 2011 Posted by | big government, Obama, shameful, Social Security, Tim Geithner | Leave a comment

Obama and Reid lie about government shutdown stopping Social Security checks from going out

Democrats lying?  The heck you say!  Details:

What happens to Social Security if the government shuts down?

People don’t get their Social Security checks.” That was President Obama at a press conference last week.

And this is Harry Reid, the top Democrat in the Senate, in a statement on Tuesday: “A shutdown could … mean no Social Security checks for seniors.”

The Democrats are saber rattling, hoping to portray Republicans as irresponsible. And the claim has been repeated by other top Democrats.

Oh no!  The horror!  The horror!!!!!!!!!!!!!!!!!!!!!!!!

Except for one little problem: it’s a bald-faced lie.

Here’s the rub: It doesn’t appear to be true.

During the last major shutdown, which lasted about a month starting in late 1995, the Social Security Administration mailed checks throughout the crisis, and a close reading of established law makes clear the agency has the legal authority to do so again.

“I am absolutely sure the checks would be sent out,” said John F. Cooney, a partner at law firm Venable who designed shutdown plans for the government while employed at the Office of Management and Budget.

Robert Reischauer, president of the Urban Institute and a trustee of the Social Security and Medicare trust funds, backed that view, saying claims that benefits won’t be paid are “not true.”

It should come as no surprise that Dems are trying to scare seniors into fearing the GOP will stop their SS checks from coming.  They’ve tried this tactic before, about 15 years ago, and they try it every campaign season: Vote for me, or you won’t get a check.  Come to think of it, that’s how the left secures the welfare leeches’ votes.  But I digress.

Anywho, if any of the geezers who were collecting SS checks back in 1995 are still on this side of the turf, they will recall that their checks were not delayed at all.  Therefore, they will know that the checks will not get delayed this time, either.

Back in 1995, the left had the MSM doing their dirty work by scaring seniors with lies.  But with the development of Al Gore’s invention, plus the emergence of Fox News (s#ck it, libs), plus the diminishing influence of the dinosaur media, the amount of misinformation and leftist propaganda put out by the MSM isn’t nearly as effective as it used to be.  But hey, whatever sweetens your dreams, you lying dirtbags.

February 24, 2011 Posted by | Obama, Reid, shameful, Social Security | 3 Comments

Crist: Hey, you know what could save Social Security? Amnesty for illegal aliens!

This must be seen to be believed:

Believe it or not, there is a more jaw-dropping statement from Governor Oompa Loompa:

When asked why he was sending out mailers with differing messages to different voting blocks, Crist explained that he was trying to reach out to all voters.

Wow.  Just wow.  “Voter block 1 wants to hear that I’m pro-choice, and voter block 2 wants to hear that I’m pro-life.  So I’ll send out mailers to both of them with different messages, telling them what they want to hear.  You know, to ‘reach out to all voters’ and stuff?”

He’s talking out of both sides of his mouth, which is tough to do through such a shiite-eating grin.

September 22, 2010 Posted by | Charlie Crist, Florida, hypocrisy, illegal immigration, shameful, Social Security | 3 Comments

Obama lies about Social Security plan

Obama lies…go figure.  That’s about as newsworthy as “water is wet”, I know.  Anywho, from Fact Check:

In Daytona Beach, Obama said that “if my opponent had his way, the millions of Floridians who rely on it would’ve had their Social Security tied up in the stock market this week.” He referred to “elderly women” at risk of poverty, and said families would be scrambling to support “grandmothers and grandfathers.”

That’s not true. The plan proposed by President Bush and supported by McCain in 2005 would not have allowed anyone born before 1950 to invest any part of their Social Security taxes in private accounts. All current retirees would be covered by the same benefits they are now.

Obama would have been correct to say that many workers under age 58 would have had some portion of their Social Security benefits affected by the current market turmoil – if they had chosen to participate. And market drops would be a worry for those who retire in future decades. But current retirees would not have been affected.

Plus, as Fact Check notes, under Bush’s (not McCain’s) SS plan, only about 4% of a retiree’s SS contributions would have been invested in private accounts if the taxpayer so chose!  Participation in the privatization plan would have been voluntary.  The remaining 96% would have stayed in the low-risk and low-return current system.

The Obamaliar: Hope and change and yada-yada-yada…

September 22, 2008 Posted by | hypocrisy, Obama, shameful, Social Security | 5 Comments

AP: McCain a hypocrite for blasting Social Security, yet gets paid from it

This news “story” reads more like an editorial from their leftist writers.  From AP:

Although Republican presidential candidate John McCain has called Social Security “a disgrace,” he still cashes his own retirement check every month.

The dude has paid into the system from Day One, so why in the world shouldn’t he receive it?  Does the AP really want to run with that line of thinking?  OK.  Game on.

From NRO’s Media Blog:

Although Democratic presidential candidate Barack Obama calls Washington broken, he still cashes his own Senate check every month. 

From Allah:

If you’re looking for financial interests that contradict reform rhetoric, forget his congressional salary, which is a mere few hundred thousand. Let’s talk about a few hundred million

Nope…no liberal media bias!

July 18, 2008 Posted by | McCain, media bias, Social Security | Leave a comment

Obama addresses looming Social Security crisis, moonbats go ape sh!t

The LA Times’ “Magic Negro” sees the imminent destruction of the Ponzi scheme known as Social Security.  You know, the same SS that Bubba said we couldn’t have a tax cut because we needed to use the “surplus” money to “shore up Social Security”?  Once Dubya became president, all of a sudden, SS was in great shape!  Anywho, Barry O has a solution to fixing Social Security.  O’s idea:

“I think the best way to approach this is to adjust the cap on the payroll tax so that people like myself are paying a little bit more and people who are in need are protected,” the Illinois senator said.

“That is the option that I will be pushing forward.”

Currently, only the first $97,500 of a person’s annual income is taxed. The amount is scheduled to rise to $102,000 next year. 

Naturally, partial privatization isn’t on the table, nor are benefits cuts or extending the retirement age (since we’re all living longer these days).  But hey, at least Osamabamadingdong is at least floating a solution, even if it sucks.  

What sayeth the moonbats?

Barack Obama, please realize that you are assisting the right’s efforts to get rid of Social Security. Their strategy is to make the public think that the program is in trouble and then sweep in with their “solution.” …IS your heart in the right place? Social Security is not in trouble. Stop saying it is.

The left’s ostriches have spoken: All is well with Social Security.  Pay no attention to the man behind the curtains with the facts to the contrary.

Hat tip to Michelle Malkin.

November 13, 2007 Posted by | economic ignorance, moonbats, Obama, Social Security | 3 Comments