“Five years ago, when President Bush made his pitch to reform Social Security, the program was projected to start running annual deficits in 2018. But in its yearly report released today, the Social Security Trustees have projected that due to the weak economy, the program will be paying out more benefits than it collects in taxes in both 2010 and 2011.” By Philip Klein at American Spectator
Post Tagged with: "social security"
July 28, 2010 05:40
Hoyer Refuses to Rule Out Raising the Retirement Age to Address Social Security
With Social Security unfunded (no money) liabilities of almost $14.5 trillion, believing that everything should stay the same is insane. If the theft of the Social Security Trust Fund is not addressed there will be no Social Security for anyone. Social Security has become a general welfare tax with the funds being spent by the government to buy votes with more social benefits. There is no ‘lock box’ with the money.
July 15, 2010 05:13
Obama lied – again: Obama fiscal commission co-chair says Obamacare won’t bring down costs
The Democratic co-chair of President Obama’s fiscal commission said Wednesday that the president’s health care bill will do very little to bring down costs, contradicting claims from the White House that their sweeping legislation will dramatically impact runaway entitlement spending.
July 5, 2010 04:35
Dems will get help from propaganda media in recess attacks on GOP
Democrats told to press Social Security fears over recess. The effort appears to be an election-year grasp at stoking the flames of fear that seniors will lose government benefits or that the age of Social Security recipients will be raised to 70.
April 9, 2010 03:20
Congressional budget office: Fiscal policy is ‘unsustainable’ -can someone explain what that means to team Obama
Fundamental changes to the federal budget will be needed to rein in unsustainable deficits, Congress’s budget watchdog said Thursday. Heck the Tea Party folks have been saying that for a year. But wait for Obama’s response ….. just have to raise those taxes after all!
March 26, 2010 21:10
Obama has proven so far that in fact one can fool a lot of the people a lot of the time.
Connect the dots of Obama’s first year in office, and an ugly picture emerges.
March 23, 2010 10:01
Dem says ‘if you don’t tie our hands we’ll keep stealing’
Rep. Tom Perriello (D-Va.), one of the more vulnerable Democrats heading into the 2010 election, unleashed some pretty strong rhetoric on spending in a recent chat with constituents.
March 14, 2010 10:46
Social Security in the RED!- to start cashing Uncle Sam’s IOUs
$2.5 trillion in IOUs from the federal government, payable to the Social Security Administration. It’s time to start cashing them in. This year, for the first time since the 1980s, when Congress last overhauled Social Security, the retirement program is projected to pay out more in benefits than it collects in taxes _ nearly $29 billion more.
February 25, 2010 16:48
Bernanke delivers warning on U.S. debt -Stage is set in U.S. for a Greek tragedy
With uncharacteristic bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the United States could soon face a debt crisis like the one in Greece, and declared that the central bank will not help legislators by printing money to pay for the ballooning federal debt.
