11 days until your SS checks might be interrupted

Deflection.

No default is required if mandatory cuts are put in place in conjunction with the debt limit increase.

You know. Exactly what the Republicans are demanding.

You want to default?

 

That's true.

Except the fed has been borrowing against it to fund its drunk'n sailor antics for decades.

 

Well let's all see- here are the eighteen enumerated powers of congress according to U.S. Constitution article one section eight. -

https://www.archives.gov/founding-docs/constitution-transcript

Police and firefighters are a state's rights and a state's responsibility. As far as military and border, that's all in there. What is not in there is social welfare programs, corporate welfare programs, charity of any kind(as if the government produced anything to give), and the issuing of fiat money. There's more, that's just a start.

 

If you approve of cutting wasteful spending, then why you support taking back the left over Covet money now that the pandemic is over? Your party and Biden doesn't.

 

By trying to raise the retirement age and proposals to cut benefit increases to levels less than inflation.

The debt interest is a product of past and continuing deficits. We can deal with interest on the debt by paying for whatever we decide to spend as we go along.

Medical and Medicaid are the big money pit. We have the Boomer bulge heading into old age and improvements in medical technology. I think we may have to get used to paying more, especially until Boomers drop in their tracks.

Something like 40% of Medicaid goes to caring for infirm indigents who can't live on their own, so Medicaid isn't a place ripe for cuts.

 

I think I know what you meant but what was written is even more accurate...

 

“The U.S. takes in enough revenue to cover interest payments and SS Checks”

Fiscally…….Agree

Daily/Weekly……UNKNOWN…..it depends on what day of the month small/medium/large businesses have to deposit their federal taxes, mainly FICA and Withheld, in the Treasury’s General Account, thus, there could be disruptions, such as late payments.

 

Ya think? Does the Republican Party today really think so little of the Constitution?

 

Yup. That basically what I waid.

 

Quote me correctly. I said AND investors. Not true? Who pays the accumulated interest on the Treasury securities? duh

 

I really wish the opposition would READ. I never said "future beneficiaries are going to fund it sufficiently”. I said SS would still be able to meet 75% (actually it’s 77%) of its scheduled obligations to beneficiaries. To make it 100% and even increase benefits to counter current inflation, it would be necessary to raise the income limit on income subject to the payroll tax.

https://www.forbes.com/sites/teresa...t-add-to-the-federal-deficit/?sh=3ba0347d2081

 

"Foreign Investors" pay for Treasuries, not the interest, and again, that has nothing to do with FICA. THAT is where the money for those Social Security checks are coming from.

 

... says the guy who starts their post with

If you can't take the comeback, I suggest what you need to avoid is sarcasm.

 

I'm not a Democrat.

You're misrepresenting my position. I'm well aware Democrats supported radicals who called for defunding police.

You're the guy who referred to the "parasitic public sector."

Republicans have themselves used the FBI in the past. From what I've seen over the years, the FBI spends the majority of its budget catching bad guys.

I think you're mischaracterizing the situation. Years ago my community had our version of today's school board wars that ended up with five teachers having their homes burned. The culprits were never caught. Just like in my town, we have people making wild statements at school board meetings. I wished someone had considered who was saying what.

Except when they misuse it?

 

I assume you mean the federal government, not the Federal Reserve. If so, I agree.

 

Why did you quote my reply to FreshAir and then retort that you are not a democrat?

 

Funny, because the post I quoted you did say that future beneficiaries would supply the funds. Nice to see you back track.

Tell me though…. If it is currently being funded by future beneficiaries 100% then why do they need to raise the debt ceiling to keep sending SS checks?

 

And does your proposal include also suspending the change in climate? How would you do that without spending money? Just shut down all gas stations in the country?

It's when you ask Republicans for specifics that you realize that they have no clue that just saying "cut this!" with no specifics would only drive us into a huge financial crisis.

 

Sure, letting the people spend their own money would be a crisis. Now I heard everything. You leftist are all like drug addicts except you are hooked on spending other people's money..

 

Why do you misrepresent what I said? Are you so unable to deal with it that you have to misquote me to make it easier? You omitted my wording “most of the assets”.

Quote me correctly if you want a reply. Did I say “100% of future beneficiaries” are funding SS?

 

Huh? I'm opposed to defaulting, period. I think the debt ceiling is unconstitutional.

They're trying to roll Biden over spending priorities and score grandstanding points, a time honored tradition of both parties.

Of course not. I'm prepared to pay our debts regardless of the debt ceiling. Always have been.

I don't think any President, not even Trump, would take the political risk of a default. They would pay the debt and dare other pols to oppose paying creditors.

 

When SSA redeems a trust fund special issue, the cash from said redemption comes from the Treasury’s General Account.

Note; Tax receipts and cash from the sale of “MARKETABLE” SECURITIES are deposited in the Treasury’s General Account.

When Tax receipts are insufficient to finance a Trust Fund Redemption, Treasury has to borrow money from Public Debt Investors, and borrowing money to finance a Trust Fund Redemption does not increase the debt.

THE PROBLEM IS; When the debt limit is reached, Treasury can no longer borrow money from Public Debt Investors.

 

You’re right, Covid.

The Democrats never want to reduce any spending except the Defense Department, even when they are spending a fortune on Ukraine.

Excessive government spending is the modern equivalent of government ownership of the means of production. It gives the Democrats plenty of money to buy votes or hand out government contracts and special privileges to compliant corporations. The Clinton and Biden crime families have made millions from this by handing out billions of government money.

 

You're the guy who referenced the "parasitic public sector." Care to take it back?

 

Well I'll stand by and see if Social Security checks actually stop.