Jul 18 2011, 07:29 PM
"By law, Social Security cannot, and has never, paid out more than it takes in. Even with no changes to the program, it is fully funded for next quarter century..."
Is that right? I thought Social Security in the US was totally insolvent.
Jul 18 2011, 09:12 PM
yes, that is correct. the social security system is a put in by employees/employers system. it does not rely on any other aspect of federal funding.
structurally, it is not insolvent. nor can it be. except for the tinkering that was energized by ronnie raygun.
see, it was ronnie raygun who convinced the ignorant us public that the usgovernment should steal from the social security trust fund to finance empire and replace its assets with us debt instruments[tbills, tbonds]. and the ignorant us public and the sleazy us congress accepted this arrangement because what was more honored than international reserve currency obligations[paper] to pay at a decent rate of interest. the upcoming default on us debt paper has the opportunity to wipe out the social security assets. which is an objective of the neofeudalists[the goal of which is to reduce the majority of the us population to serfs].
that the us president and the congress are intent on this erasure of all social protections is evidenced by the fact that no one cares to discuss how easy it would be to assure a financially sound social security system.
step 1: eliminate all income caps on social security[fica] contributions. warren buffet would finally have to pay a percentage of his income beyond the nominal $100,000 cap. as would berkshire hathaway. no escape clauses for this. by the way, have you ever heard warren recommend this? i sure haven't.
step 2: the social security system should renounce us debt paper just as china and japan[and others] are trying to escape from it. and the access to the social security trust fund by the usg should be eliminated.
personally, i think the social security system should be replacing us debt paper with gold, silver, platinum, palladium, copper.
now, medicare and medicaid are other issues. though part of the us social parachute, their origins reside in the very crooked ways of lyndon johnson. these programs were sold by johnson to the ama when he clued them in to the fact that they would be the mechanism by which physicians could steal their way into even a more elevated level of social/financial prominence. and hide the elevated fees from the patients via the governmental intermediary[administered by corporate insurance entities].
in my view, when you grasp the thoroughgoing levels of corruption, and how entrenched it all is, i think you are left with the picture that the electoral political system will never be able to cleanse these augean stables.
though revolution has its own pains, i can see no other mechanism to energize the refiner's fire, so to speak.
that is where we are now. after the banksters' coup of 2007-2008[jamie dimon was marat?], hasn't the time arrived for the tumbrils?
i agree that it will be as painful an incident in history as those events in 18th century france, but can anyone see any other avenue for restoring the republic?