June 2005 AARP Posts
Frist is showing signs of the doctor in him, facts over ideology this can't be good for the Bush team. Other Senators may start thinking on their own, this could be a trend in the Senate.
MY POST DIDN'T TERMINATE PROPERLY I CAN'T EDIT THE POST??????
That shows the GREED and AVARICE resident in this administration. There is a excellent linkage the CORPORATE ownership of the Bush administration. NICE TAG !
YOU HAVE A VERY GOOD POINT
"The conservative movement has passed into history ."
Pat Buchanan
Why don't I feel better ?
YOU ARE NOT ALONE
READ H. J. Res 32 THIS WAS BEFORE THE CATO/HERITAGE BRAINWASHING The SSA does not need to be torn apart. These small fixes will correct the PROJECTED short fall SSA Trust fixes.
The FDR plan was is and will be solid . Where did you come up with this table ( methodology ) . FDR's system is working and did work even though the congress tried ti change it.
Frist is seeing AMERICAN doctors being taught STEM CELL TECHNIQUES BY KOREAN doctors. WE have LOST THE LEAD IN STEM CELL RESEARCH. Thanks to the SADISTIC NE-CON EVANGELICAL ACTIVIST
THIS IS WHAT HAPPENS WHEN IGNORANCE MEETS SCIENCE. SCIENCE WINS
.THIS IS THE " MOB " MENTALITY OF THE INQUISITION SET IN MOTION. THE SADISTIC NE-CON EVANGELICAL ACTIVISTS WILL START THE DEATH THREATS AND ALL THE REST OF THEIR INSANITY. THESE PEOPLE ARE SICKOOOS LOOKING FOR A OUT LET TO VENT THEIR REPRESSED SEXUALITY .!!!!
THE TERM IS MEGLAMANIA
You said
Lenin is dead....
But his methods and ideas live on in the RNC
The SSA is the safety net of the American retirement system. The level below which none shall drop. Each needs to buld on the base of the SSA, with a 401k or whatever to develop multiple income streams for retirement like the " rich " do. The more the merrier, and it is nice to know you have a back stop to keep you in play. REMEMBER ENRON.
If one looks at fig 1
This chart is a cash flow analysis of the SSA Trust over the 75 year valuation period. The problem of the BOOMERS can be seen in the steep ( NEGATIVE CASH FLOW ) increase in the rate of the annual short fall in cost to revenue. This chart debunkes the dooms day predictions of the Bush administration. Solution is simple keep the SSA Trust in the black until 2034 and keep the interest on the trust compounding. When the boomers die off the SSA will be stabilized and growing. SSA Trust fixes is a list of known fixes
This argument smacks of circular logic. Question how do you feel about the $90 BILLION / YEAR in corporate welfare passed out by congress ??
PS In this society that which is legal is morally acceptable.
Once a person reads the CBPP report the intentions of the Bush administration should be clear to all. LOAD OUR CHILDREN AND THEIR CHILDREN UP WITH ALL THE DEBIT WE CAN CREATE
Check these plans against the GOLD STANDARD H. J. Res 32
THEY MUST BE STOPPED
" We must remember the high standards that come with high office. This begins with careful adherence to the rules. I expect every member of this administration to stay well within the boundaries that define legal and ethical conduct."
President George W. Bush [Public Papers of the Presidents, 1/29/01] In monitoring the progress of the SSA Trust solvency problem there a number of bench marks that must be met to BEAT THE INTERMEDIATE MDL ( II ) .fig1
The first benchmark is job creation, we must generate,( on average ) 133,000 per month to meet the 3 to 1 ( perfered level ) worker to retiree balance.
We must increase the "real wage". A increase in the minimum wage would be a nice start ( poor folks need to eat to ).
The GDP MUST GROW at more than 2.9% per year.
A slow but steady rise in the live birth rate. We are currently at 12 million live births per year.
WE NEED MORE PEOPLE !
To ensure that we maintain our lead in TECHNOLOGY we need todo some thing about this Fig.2
Data from IDEAS at repec@repec.org
Full report at http://www.unicef-icdc.org/publications/pdf/repcard6e.pdf
Bush's NO CHILD LEFT BEHIND is a joke in light of this world ranking.
There is another way to HELP beat the INTERMEDIATE MDL ( II ) .
START FUNDING NASA AND STOP THE SILLY MYOPIC GIVE A WAYS TO THE F.O.G. ( FRIENDS OF GEORGE ) .
Next to the presence of the BOOMERS, NASA has been one of the main drivers of our economy and our science infrastructure. The reign of ignorance and simple mindedness must come to an end. We must get back to work and start leading with superior knowledge and ability, not simple military might.
DUMP THESE DUMMIES ON CAPITAL HILL !! READ H. J. Res 32 AND UNDERSTAND ITS A SAFETY NET . If you want a HIGH EARNING IRA 401k , ADD ONE AND YOU WILL HAVE TWO INDEPENDENT INCOME STREAMS AT TWO RISK LEVELS . THE SSA WORKS 50 MILLION PEOPLE LIVE LIKE HUMAN BEINGS NOT ANIMALS . Lets keep it that way. " WITH MY BLESSINGS "
WE NEED THE TRUTH
NOT PROPAGANDA
.
Most people get backed into, or lost for words , can't quite pin down how to say what they want to say. And end up with " GLITTERING GENERALITIES " , " PAINTING WITH A BROWARD BRUSH " , "CIRCULAR LOGIC ", " NAME CALLING ", ect. . These are our failed attempts at using the language. But to design sound bites, books ( SANTORUM'S LATEST ) videos, using this double talk is a insult to the memory of H.H.H. AU H2O, AND ALL WHO DIED TO PRESERVE THIS COUNTRY. "WE ARE ALL AMERICANS AND WE ALL LIVE IN AMERICA"
"YOU ARE YOUR BROTHER'S KEEPER"
If some have fantasies of being able to desert 25 MILLION to 30 MILLION PEOPLE, in this country they should think again . This is a " CAPITALIST " economic system and the need for "PAYING PARTICIPANTS IS VITAL". More thieves and street urchins will only drag this country into a recession. At present the SSA is the only " low leakage " retirement system active and support of it will insure the survival of our economy. Fig.1
The BOOMERS are fueling this economy. I think every true " CAPITALIST " wants to keep this spending going as long as possible, and as close to these levels as possible.
BUSH'S "BOOMER RETIREMENT RECESSION" MUST BE PREVENTED !
In order to accomplish this goal letting the "BOOMERS" pre-pay for the added load that will be placed on the SSA Trust is the most efficient way to do this. We the "BOOMERS" benefit there fore we should PAY the bulk of the bill. (1)INCREASE THE FICA TAX 2% NOW,(2) INCREASE THE FICA CAP SALARY TO $150K. Then monitor the SSA Trust balance through 2034 on a yearly basis to asses the need to continue the tax increase. This is the safest and the cheapest fix possible. IF THE MONEY IS IN THE BANK WAITING FOR THE PROBLEM AND IT DOESN'T HAPPEN THE GEN Y'S AND THE GEN "WHATEVERS" GET A TAX BREAK IN 2035. Plus a SSA Trust that is in the "BLACK" and growing, with an ever INCREASING INTEREST component.
This is the "cash flow" over the 75 year valuation period. Note the effect of a increase in the "real wage"
Also note there is NO INCREASE IN THE NATIONAL DEBIT I write my posts in " html 3+ transitional " . In effect each is a " web page " and is read as such by each browser that connects to AARP'S message board . the graphics are stored on my web site. When the message board is accessed the graphics are download from my web site to each browser.
This " .gif " was inserted in the text of this message via the " img src="x" command
Where x is the complete url of the image . This is easier than trying to control how "whitney" AARP's text parser handles text placement on the board and it's limited file linking abilities. One warning the "p" must be placed properly to keep the board in its original width. The images are sized to fit the space available on the message board. Links are handled by a href cmd.
Here is a link to a online Programmers Reference http://www.w3schools.com/html/html_reference.asp The first step is to bring the House into near balance and bring the Senate to a 50 / 50 lock to get these people to work together. The RNC must drop this idea of turning the USA into a THEOCRACY and, forcing the rest of us to follow their idea of how to live. By booting a few SANTORUMS OUT OF CONGRESS A MESSAGE CAN BE SENT THAT WILL BE HEARD !!! THIS KIND OF THINKING IS WHAT FDR DIDN'T WANT.
The SSA is not an entitlement program. It is inteded to be a safety net or a back stop so to speak. The idea is to keep YOU in play no mater what happens. The mandate is to assure YOUR survival EVEN IF YOUR CORPORATE PENSION DOES AN ENRON, the 401k is a fraud and the stock mutual fund is a figment of a computers memory and nothing more, THE SSA BENEFIT WILL BE THERE !!! If the stock market crashes and bonds are D.I.W. The SSA BENEFIT WILL BE THERE. The lowest reward carries the least risk and the highest probability of being there when needed. THIS IS THE SSA BENEFIT.
Now is the time to create an extension to the safety net, for the genXers and the gen Y's. Why do you want to distort the SSA into a half baked, almost a loser 401k. Keep the SSA doing what it does best The safety net, the BACK STOP that device that will be there if the corporation has under funded the company's pension plan to the point where you get 15 cents on the dollar, The SSA BENEFIT WILL BE THERE. There is no other plan on the market with the reliability of the SSA. Read H. J. Res 32 . This will give you an idea of what the House of Representatives believed about the SSA before the BRAIN WASHING of the Cato / Heritage alliance with the RNC LEADERSHIP , was applied. If you want a " private plan get one, a real one a 401k or IRA. Add this plan to the SSA benefit and develop 2 income streams at retirement. The idea is as old as investing is. MULTIPLE INDEPENDENT INCOME STREAMS, WITH DIFFERENT RISK PROFILES THIS IS THE WAY TO SET UP A RETIREMENT INCOME PORTFOLIO If you want a private plan add one to the SSA SAFETY NET!!
This plan is " LEAK PROOF "
This plan is intended as a tool to boost the savings incentives for those near and/or at the bottom of the income scale. Note ALL CONTRIBUTIONS ARE TAX EXEMPT AND GROW TAX FREE!!!
Sorry I started working from pre 1974 bond yield eq's ( from memory). There is also another novel idea. Starting retirement savings for ALL at birth / issuance of the SS card. I have also been thinking of INDEXING the tax break for low ( minimum wage earners up to 175% of the poverty line) income earners such that POOREST OF THE POOR CAN GET A ENHANCED BREAK.
I BELIEVE THIS THE WAY TO GO YOU SAVE,,, YOU MAKE OUT AT RETIREMENT BIG TIME, IT IS UP TO YOU.
READ THIS IS HOW YOU TRANSFER WEALTH
SOME BASIC REQUIREMENTS FOR A PRIVATE ADDITION TO THE SSA BENEFIT. This is in addition to the SS FICA There is a higher limit on the annual contribution say 20k dollars/year. The FICA salary cap shall rise to $140,000.00 . The money is exempt from state and federal tax. The money grows tax free The money can be available from say 59 to 64 on, as a monthly pay out over 30 years. THE CONGRESS IS PRECLUDED FROM ANY FORM OF BORROWING FROM THIS ACCOUNT, THE EXECUTIVE BRANCH IS PRECLUDED FROM ISSUING ANY PROCLAMATIONS OR EXECUTIVE ORDERS ATTACHING OR USING THESE FUNDS FOR ANY PERPOSE OTHER THAN THE BENEFITS OF THE OWNERS . FURTHER THERE WILL BE NO COMMINGLING OF THESE FUNDS WITH ANY OTHER AGENCY OR BRANCH OF THE U.S. GOVERNMENT. NO LIEN OR ATTACHMENT OF THE "PRIVATE PLANs" LEGALLY OBTAINED AND DEPOSITED FUNDS BY ANY COURT, JUDICIAL ENTITY, OR ENTITY WILL BE PERMITTED BY THE U.S. GOVERNMENT. THESE FUNDS WILL BE INVESTED AND MANAGED AS A BOND FUND. THE OBJECTIVE WILL BE OPTIMUM LONG TERM YIELD . ALL US GOVERNMENT ISSUED AND GUARANTEED OPENLY TRADED US GOVERNMENT BONDS AND NOTES , OF ALL MATURITIES SHOULD BE USED AS NEEDED . The operation of the "private plan" should mimic the operations of a bond mutual fund. Interest compounding and, pay outs should be made quarterly . A $ 3.00 minimum per week contribution with a $20,000.00 yearly maximum . Extra deposits should be accepted via inter bank money transfers or EFET deposits to the account, also deposits can be made at any bank cash or check . Subject to the prevailing money laundering laws on the books . All deposits will be tracked by SSA and reported to the IRS as exempt income ( not taxable ) but reported . The total of all deposits will show up on the W - 2 form . The amount to be deposited via weekly payroll deduction should be easily changeable, up or down . The interest paid is as close to the coupon as clipped value as possible Once the agreed upon retirement age is reached the right to start, stop and restart benefit pay outs should be available. Each baby born an American Citizen at the issuance of his / her SS card will have $10.00 dollars deposited into his / her private plan, as a one time retirement grant. The Idea here is to reach the first $ 1000.00 in the account A.S.A.P. . For a new worker entering the work force and, living at home with his /her parents making extra deposits as savings would make for an comfortable retirement . When this worker moves up the pay scale increasing the weekly deposit and or making extra deposits will further increase the additional income provided by the " private plan " The power of large scale buying of bonds can reduce the fixed cost of the operation to the .02 % to ,01 % level. This plan has the potential to transform the idea of retirement living. This plan can double the safety net for new workers entering the labor pool. In order for us older folks to take advantage of this system we would have to increase the amount of our initial deposits. The best use for us older folks would be an cash trap , say after the sale of a house, what should you do with 50k excess profit ? shelter 20k , and let it turn into over $159,000.00 in 15 years . That points to the 6 trillion dollar question, why has not the brain trust that Bush has assembled figured this out . Is there some other reason why some thing like this is not on the table and, up for debate . There is some thing going on and they are not talking. WILL SOME ONE IN THE ADMINISTRATION PLEASE TELL THE TRUTH, WHAT IS GOING ON. This plan will enhance the savings rate in the country. The number of seniors on welfare will decline . The spending power of seniors will start rising just as the population starts to gentrify. As the baby fizzle of the, late 70's early 80's, moves to the workforce center stage, the spending power of the retied will be on the rise. To days pre-tweens will be entering the work force with their greater numbers and, will have spending support to maintain job growth. The pre-tweens will have at least a chance to establish themselves as an economic force. The number of seniors retiring to poverty should begin to approach 0 , because of the doubling of the safety net benefit. This plan has one goal to produce more customers. This country needs more customers with money. GROW OR DIE
IF YOU NEED A FIX FOR SSA SSA Trust fixes. IS A LIST OF THEM. I LIKE # 11 . THIS IS YESTERDAYS NEWS
Why the fear of a simple chart ?? Is there some thing to hide? Is it best ( for some ) that a understandable picture showing the costs of the RNC approved plans stay obscure?? Don't They want EVERY BODY TO UNDERSTAND HOW MUCH THESE PLANS WILL COST.
Seams to me that some of the posters to this board have never read a thing about INCOME PORTFOLIO DEVELOPMENT. These people have never talked to a PROFESSIONAL INVESTMENT ADVISOR or read a simple book on the subject. One of the simplest and most basic rules is HIGH REWARDS go with HIGH RISK.
The art of income portfolio investment is balancing RISK / REWARD , it is not easy. SSA was designed to be the most stable and the simplest. This is where a PRO would start to build, in addition to SSA , up the RISK / REWARD scale, with multiple levels of RISK / REWARD IN A DIVERSE COLLECTION OF ASSETS.
There is a problem with copyrighted © material . You can easily edit whole web (text ) pages and insert them in a post . Watch the copy protected stuff WOW they are already on the run!
"Confusing" a cost of 1.1% of GDP increase in debt service with a 1.1%increase in the debt service (about a thousand fold difference)
Stating that the annual 1.1% of GDP increase in debt service would really be paid over 45 years instead of each and every year.
Looks like a malleable yard stick ( GDP )
May be this one thinks the GDP is the National debit, very confused!
This is why the administration uses % of GDP
You said
"And considering the impact of the added investment in the economy, I'd expect that we'd see the economy grow faster than it is now (as evidenced by the economic growth following the recent tax cuts which added investment money to the economy) and thereby offer greater opportunities for even those who elect to stay in the traditional SS system to benefit."
A large increase in the DEFICIT and the NATIONAL DEBIT are the only things that the tax cuts have given this economy see fig's
Is this really good for our economy? Where are we going to come up with the bucks to pay this off.
Chart by "OLDBLUE"
There is no such thing as "FREE MONEY" we must pay to use someone else's cash
The National bebit is up and rising
Chart from " OLDBLUE "
Great tax cut ! Do you want to add 17 TRILLION to 20 TRILLION to this debit for the Bush plan? Your grandchildren will love you for this beautiful present. If you think some of the other RNC approved plans are better read the CBPP REPORT.
THE PROJECTED SSA SHORT FALL IS $4 TRILLION NOT $17 TRILLION OR $20 TRILLION. WHY BORROW MORE THAN $4 TRILLION . $17 TRILLION COULD BUY A PERMANENTLY MANNED SPACE STATION , A PERMANENTLY MANNED MOON BASE AND A MANNED MARS BASE. IF YOU ARE THAT DESPERATE FOR A " PRIVATE SSA PLAN " ADD THIS TO SSA. This plan is $16.89 TRILLION CHEAPER OVER 75 YEARS.
READ THIS IS HOW YOU TRANSFER WEALTH
SOME BASIC REQUIREMENTS FOR A PRIVATE ADDITION TO THE SSA BENEFIT.
This is in addition to the SS FICA
There is a higher limit on the annual contribution say 20k dollars/year.
The FICA salary cap shall rise to $140,000.00 .
The money is exempt from state and federal tax.
The money grows tax free
The money can be available from say 59 to 64 on, as a monthly pay out over 30 years.
THE CONGRESS IS PRECLUDED FROM ANY FORM OF BORROWING FROM THIS ACCOUNT, THE EXECUTIVE BRANCH IS PRECLUDED FROM ISSUING ANY PROCLAMATIONS OR EXECUTIVE ORDERS ATTACHING OR USING THESE FUNDS FOR ANY PERPOSE OTHER THAN THE BENEFITS OF THE OWNERS . FURTHER THERE WILL BE NO COMMINGLING OF THESE FUNDS WITH ANY OTHER AGENCY OR BRANCH OF THE U.S. GOVERNMENT. NO LIEN OR ATTACHMENT OF THE "PRIVATE PLANs" LEGALLY OBTAINED AND DEPOSITED FUNDS BY ANY COURT, JUDICIAL ENTITY, OR ENTITY WILL BE PERMITTED BY THE U.S. GOVERNMENT. THESE FUNDS WILL BE INVESTED AND MANAGED AS A BOND FUND. THE OBJECTIVE WILL BE OPTIMUM LONG TERM YIELD . ALL US GOVERNMENT ISSUED AND GUARANTEED OPENLY TRADED US GOVERNMENT BONDS AND NOTES , OF ALL MATURITIES SHOULD BE USED AS NEEDED .
The operation of the "private plan" should mimic the operations of a bond mutual fund.
Interest compounding and, pay outs should be made quarterly .
A $ 3.00 minimum per week contribution with a $20,000.00 yearly maximum .
Extra deposits should be accepted via inter bank money transfers or EFET deposits to the account, also deposits can be made at any bank cash or check . Subject to the prevailing money laundering laws on the books .
All deposits will be tracked by SSA and reported to the IRS as exempt income ( not taxable ) but reported .
The total of all deposits will show up on the W - 2 form .
The amount to be deposited via weekly payroll deduction should be easily changeable, up or down .
The interest paid is as close to the coupon as clipped value as possible
Once the agreed upon retirement age is reached the right to start, stop and restart benefit pay outs should be available.
Each baby born an American Citizen at the issuance of his / her SS card will have 10.00 dollars deposited into his / her private plan, as a one time retirement grant.
The Idea here is to reach the first $ 1000.00 in the account A.S.A.P. . For a new worker entering the work force and, living at home with his /her parents making extra deposits as savings would make for an comfortable retirement . When this worker moves up the pay scale increasing the weekly deposit and or making extra deposits will further increase the additional income provided by the " private plan "
The power of large scale buying of bonds can reduce the fixed cost of the operation to the .02 % to ,01 % level.
This plan has the potential to transform the idea of retirement living. This plan can double the safety net for new workers entering the labor pool. In order for us older folks to take advantage of this system we would have to increase the amount of our initial deposits. The best use for us older folks would be an cash trap , say after the sale of a house, what should you do with 50k excess profit ? shelter 20k , and let it turn into over $159,000.00 in 15 years . That points to the 6 trillion dollar question, why has not the brain trust that Bush has assembled figured this out . Is there some other reason why some thing like this is not on the table and, up for debate . There is some thing going on and they are not talking. WILL SOME ONE IN THE ADMINISTRATION PLEASE TELL THE TRUTH, WHAT IS GOING ON.
This plan will enhance the savings rate in the country. The number of seniors on welfare will decline . The spending power of seniors will start rising just as the population starts to gentrify. As the baby fizzle of the, late 70's early 80's, moves to the workforce center stage, the spending power of the retied will be on the rise. To days pre-tweens will be entering the work force with their greater numbers and, will have spending support to maintain job growth. The pre-tweens will have at least a chance to establish themselves as an economic force. The number of seniors retiring to poverty should begin to approach 0 , because of the doubling of the safety net benefit. This plan has one goal to produce more customers. This country needs more customers with money. GROW OR DIE
Please asses the advantages of SINGLE ASSET retirement income portfolio vs the traditional MULTI ASSET MULTI RISK / REWARD portfolio.
JUST ONE LINK,,,, PLEASEEEE !
YOU SAID
" The socialist want us to believe that by being born we are liable for the needs and desires of others.
"THE ESSENCE OF CIVILIZATION IS , THE STRONG HAVE THE DUTY TO PROTECT THE WEAK. WE SHOULD ALWAYS ERROR ON THE SIDE OF LIFE. ". GEORGE W. BUSH on 03/ 31/05
So says our inferious leader
YOU SAID
"Whether it be Hitler, Stalin, or Castro, they all had a vision of a personal utopia based on the governements ultimate control of everything within its grasp."
Are you referring to SADISTIC NE-CON EVANGELICAL ACTIVISTS push to repeal ROE v WADE or are you referring to the US SUPREME COURT RULING ON EMANATE DOMAIN ?? Or are you referring to the SADISTIC NE-CON EVANGELICAL ACTIVISTS push to codify the " CHRISTIAN VALUES SYSTEM " in the US Constitution?? Is LENIN included in this illustrious group??
It would be nice to give SEN. SANTOURM the boot !! Did any one see him on THIS WEEK last Sunday morning???
There is a way to add another leg to the one legged stool of SSA , but first the SSA Trust must be stabilized with SOME OF THE KNOWN SMALL ADJUSTMENTS . CARVING ANY THING OUT OF SSA IS SELF DEFEATING AND WILL DESTROY THE BASE SSA BENEFITS. ANY THING ADDED MUST BE IN ADDITION TO THE CURRENT SSA BENEFIT, AS AN EXTENSION OF THE SSA SAFETY NET .
THE MOST INTERESTING IDEA I HAVE HEARD IS TO START RETIREMENT SAVINGS AT BIRTH / ISSUANCE OF THE SSA CARD. Instead of this current insanity of BIG gains in a SHORT time . This instant wealth approach forces people into bad HIGH RISK investments. If the savings time horizon is extended over 50 years min. the RISK PROFILE of the asset class can be improved.
THE SILLINESS RESIDENT IN THE SSA REFORM PLANS ANALYZED IN The Center for Progress report and the CBPP report Is indicative of people who don't care what they do to the " YET TO BE BORNE'S ". HOW ARE THEY GOING TO PAY OF ANY OF THIS PROPOSED DEBIT. How can an mature adult justify BORROWING 2, 3, 4 TIMES THE AMOUNT OF MONEY NEEDED TO FIX THE PROBLEM, AND THEN NOT FIX THE PROBLEM?? IS THIS INSANITY OR WHAT??
These people should be bounced out of congress for reasons of diminished capacity.
THE RNC IS WILLING TO SUBSIDIZE THE WEALTHIEST CORPORATIONS ON THIS PLANET TO THE TUNE OF 90 BILLION PER YEAR , AND GIVE BOONDOGGLE TAX BREAKS TO DEAD BEAT, FREE LOADERS WHO CAN'T EVEN PAY FOR THEIR OWN RETIREMENT.
And yet these same SADISTIC NE-CON EVANGELICAL ACTIVISTS allow this to happen. Fig1
Data from IDEAS at repec@repec.org
Full report at http://www.unicef-icdc.org/publications/pdf/repcard6e.pdf
Remember the HYPOCRITE
"THE ESSENCE OF CIVILIZATION IS , THE STRONG HAVE THE DUTY TO PROTECT THE WEAK. WE SHOULD ALWAYS ERROR ON THE SIDE OF LIFE. ". GEORGE W. BUSH on 03/ 31/05
So says our inferious leader
Stop "PAINTING WITH THE BROWARD BRUSH " and add a little specificity to your post
YES THEY CHOSE TO BE POOR
Sen SANTOROUM Tried to sell the idea that Gloria Stinenum is the driving force that is forcing the average woman to work out side the home AND DESTROY THE FAMILY UNIT . He used the technique of " PAINTING WITH THE BROWARD BRUSH " , He referred to " ALL THE RAGING FEMINISTS " ( I CAN'T REMEMBER HIS NAME !!! the former Clinton aid who took over from Brinkley) He made the statement " THATS PAINTING WITH A VERY BROWARD BRUSH " and then asked the question " WHICH FEMINIST ACTIVISTS ". At this point Sen Santroum lost the holier than thou attitude and started stumbling around for a name Gloria was the only name he could come up with. When the fact that his book was a knock off of Sen. Clinton's was pointed out to him he linked Sen. Clinton to Mrs. Stinenum and labeled Sen. Clinton a raging feminist as a way to discredit her book. This man is a piece of work.
Good deflection , change the subject, attach the data, very good. TRY READING THE REPORT FIRST
You for got the choice of where and to whom you are borne.
You forgot being a crack baby this kid should have picked a different mom
You forgot having to go to a substandard school with gangs and older crack babies
you forgot having to work to earn money to feed his/her self and family
You forgot a minimum wage of $5.50/hr
You forgot plant closings where jobs go over there
You forgot life in a small dieing town
you forgot life in Appalachia
"THE ESSENCE OF CIVILIZATION IS , THE STRONG HAVE THE DUTY TO PROTECT THE WEAK. WE SHOULD ALWAYS ERROR ON THE SIDE OF LIFE. ". GEORGE W. BUSH on 03/ 31/05
So says our inferious leader
"You for got the choice of where and to whom you are borne." In the wrong place then MOVE!
How far do you think a 4 year old will get with no food and no money? When a prenatal infant moves out of the womb it's called " miscarriage " or a " premature birth ". This kid is not going very far. This kid is in big trouble.
Born to the wrong family? This is not India! There are no "untouchables" here!
When was the last time you actually talked to someone who is HOMELESS AND LIVING ON THE STREET, ever actually touched a homeless person?
"You forgot being a crack baby this kid should have picked a different mom" That "dear" mother already made the choice didn't she?
According to you This child should be condemned for not leaving this bad situation
"You forgot having to go to a substandard school with gangs and older crack babies"
It's "your" choice, as a student, to learn or not! Just another liberal excuse! In fact since you brought it up, I just heard that 60% of blacks fail to get a high school degree! They just drop out! This is going to be a real problem in the future
DO YOU REMEMBER ANYTHING ABOUT SCHOOL? When TEACHERS are forced to buy books, paper , pencils and chalk WITH THEIR OWN MONEY. Inhabit a building where half the TOILETS are CONDEMNABLE . Fight untreated A.D.D. ( some times along with the sick students ) I can guarantee you there is very little LEARNING GOING ON.
"you forgot having to work to earn money to feed his/her self and family"
If he works year round, he most likely is not in poverty! Think not! Check here:
Most poor teenagers that work to support their families and go to school on occasion with hopes of some day graduating, will be among the "working poor".
Younger workers have highest poverty rates, MLR- The Editor's Desk BLS has some idea what is going on. When women join the work force they earn less than men. Of course these people want to be poor.
QUESTION HOW LONG CAN YOU GO WITH OUT EATING????
IS CHEAP LABOR ENFORCED BY ENGINEERED AND ARTFULLY MAINTAINED STRUCTURAL POVERTY THE ESSENCE OF THE SADISTIC NE-CON EVANGELICAL ACTIVIST'S VALUE SYSTEM???
WHEN MEXICO PASSES THE USA ON THIS CHART ALL SADISTIC NE-CON EVANGELICAL ACTIVISTS WILL CHEER AT THE ACCOMPLISHMENT.
Data from IDEAS at repec@repec.org
Full report at http://www.unicef-icdc.org/publications/pdf/repcard6e.pdf
broad
BROAD
BUSTED,,,, HOW DID THAT GET THERE ??? HAPPY FINGERS! Sister Charles tried but still I get carried away!!!!
GET THEM SS CARDS AND LET THEM PAY FICA!!!
The RNC's "anti Hillary campaign" is showing Looks like the RNC is going to *ESCAPE GOAT " famous and powerful liberal women as the cause of " THE DETERIORATING FAMILY ".
What struck me was his change in demeanor , when pinned on the " RAGING FEMINISTS " statement the " pin "was totally unexpected. He seamed to have another prepared statement ready to follow the " RAGING FEMINISTS " statement . His double take was as if to say "DON'T YOU AGREE?", " WHERE DID YOU LEARN THAT "? I wonder if he had been practicing this line with a " stand in questioner".
WELCOME TO THE REAL WORLD
WE ARE ALL AMERICANS AND WE ALL LIVE IN AMERICA
WHY DO YOU THINK YOU HAVE THE RIGHT TO CREATE $20 TRILLION IN NEW DEBIT TO FIX A $4 TRILLION PROJECTED PROBLEM, AND THE SO CALLED FIX ACTUALLY WON'T FIX THE PROJECTED PROBLEM.
All of the other RNC approved plans waste money and, load the next three generations up with a HUGE debit load. As I have said $17 Trillion will buy
- A SPACE STATION 3 TIMES THE SIZE OF FREEDOM.
- A CONTINUOUSLY MANNED MOON BASE
- A MANNED MARS BASE
A t least if we build these facilities we will employ a lot of people and super stimulate this economy. These loser CARVE-OUT SSA PRIVATIZATION PLANS WILL JUST RUN UP A USELESS DEBIT.
This is one of the problems that I have been considering.
- THE NUMBER OF PEOPLE INVOLVE IN THE PLAN, ALL HOLDERS OF A SS CARD
- THE CLINTON CONUNDRUM ( WHERE CAN WE FIND A MARKET BIG ENOUGH FOR THE INVESTMENT )
- THE NEED FOR A LOW RISK INVESTMENT
Item 1 This is the reason the SSA should manage such a fund, SSA already has a complete data base of all SS card holders, and they are already plugged into all employers and banks.
Item 2 here I selected US Gov Bonds, Notes and Receipts of deposit of all maturities. For one reason , absolute safety. Yet with the goal of maximizing yields and the large number of participants, there is a chance that market disruptions could occur. If each of about 148 MILLION workers deposited $3.00/wk about $444 MILLION PER WEEK EVERY WEEK WOULD NEED TO BE INVESTED. ( THIS IS THE CLINTON CONUNDRUM WHERE CAN WE INVEST THE MONEY ). The cash flow described here is small if many " HIGH EARNERS " contribute the full $20k and others use as much as they can the US Gov. securities market could get tight. If we expand out to direct stock investment the fund yield will fluctuate as the stock market swings up and down. Should we buy voting or non voting , only "dividend yielding " or growth, index funds mutual funds???
If we drop down to the US GOV agency bond level ( TVA and others ) . We would see low RISK and good yield. There is one problem THIN MARKET.
At this point I think that it is time to break out of the ME ME INSTANT WEALTH CIRCULAR LOGIC and create some thing new.
I have been thinking about a NASA BOND . NASA IS THE ONLY THING WE HAVE THAT NO ONE ELSE IN THE WORLD HAS. Question Is there a viable premise or REWARD THAT CAN BE LEGALLY ATTACHED TO A SUB CLASS OF US TREASURY BOND TO CREATE A SALEABLE SECURITY.
If a revenue stream can be defined to distribute the proceeds of patents developed by NASA funded research is one that I can think of ? This would require increased revenue from joint ventures with private companies. I wonde if this could be extended to NIH , DOD , and others.
"THE ESSENCE OF CIVILIZATION IS , THE STRONG HAVE THE DUTY TO PROTECT THE WEAK. WE SHOULD ALWAYS ERROR ON THE SIDE OF LIFE. ". GEORGE W. BUSH on 03/ 31/05
So says our inferious leader
YOU ARE ACTUALLY PROTECTING YOUR SELF
What do think you would be doing in the midst of a massive recession. This recession has been caused by 50 MILLION people dropping to and some below the poverty line. The national debit now stands at $10 TRILLION. The SSA has failed. Consumer spending has taken a horrendous hit. What would Fig 1 look like.
Do you have a JOB or investments to tend ?
WE ARE ALL LINKED AT THE HIP AND WE ARE " OUR BROTHERS KEEPER " WHETHER WE LIKE IT OR NOT.
This is the CAPITALIST SYSTEM . THIS IS A REALITY OF LIFE.
Now is the time to strengthen the SSA system. To ensure the survival of the United States of America and it's people as a whole . This is not he time to whine about supposed theft of money by one of the most successful and, legal Social programs known to man, the SSA
The big problem Clinton was facing was this:
- ALL THE PUNDITS, THE CBO , AND ALL THE ECONOMISTS WERE PROJECTING SURPLUSES AS FAR AS THEIR EYES COULD SEE.
- QUESTION, HOW CAN WE PRE-FUND THE UP COMING BOOMER RETIREMENT WITH NO 30YEAR BOND
Here is a link to more info http://www.gao.gov/archive/1999/a399096t.pdf
This about the SURVIVAL of the United States of America as a whole , ALL THE PEOPLE !!
I found the story http://www.cnn.com/2005/POLITICS/08/02/elections.roundup.ap/index.html This looks
bad for the RNC as a whole. A winning margin of 52% to 48% in a traditionally Republican district is very good for the Dems.
The Achilles heal of the Republican party is showing. I SMELL BLOOD
- Honesty when it comes to the Iraq war
- Jobs going over seas and job creation here at home
- How the war is being handled
IF ONE COULD INTEGRATE THE FOLLOWING INTO THIS MIX.
- Control of the deficit / National debit
- (STRENGTH via FINANCIAL SOLVENCY)
- ROLL BACK OF CORPORATE PORK
- DROP PRIVATIZATION AND STABILIZE THE SSA ONLY.. NO MORE ADDED DEBIT
THIS MAY FORM A WINNING NATIONAL BASE
Sen, Jim Bunning already has a bill in the US SENATE S-774 . This little SSA destroyer is an attempt to quietly destabilize SSA funding and, give PORK to the F.O.G. ( FRIENDS OF GEORGE ) fig.1
Chart from " OLDBLUE "
Looks like pure PORK for the F.O.G. ( FRIENDS OF GEORGE ) to me.
"THE ESSENCE OF CIVILIZATION IS , THE STRONG HAVE THE DUTY TO PROTECT THE WEAK. WE SHOULD ALWAYS ERROR ON THE SIDE OF LIFE. ". GEORGE W. BUSH on 03/ 31/05
So says our inferious leader
This is your future,,,UNDER THE BUSH DOCTRINE
Yes at present we are still ahead of Mexico, but we are dropping fast. Fig.1
Data from IDEAS at repec@repec.org
Full report at http://www.unicef-icdc.org/publications/pdf/repcard6e.pdf
Take a look at this fig2
From the Census Bureau
Looks like Bush's CHEAP LABOR plan is working. After all if we must compeat in the globalized market we must lower our standard of livng for some to keep our cost of labor down.
It is a sad day when a member of the US SENATE must rehearse for a talk show sit down Q and A . If these people can be forced of " script " they are dead
If Santorroum is typical of the Republican candidates , they are in trouble. The key is to ask for specifics, accept no evasions cut to the point.
These folks think the SSA is a good deal. Fig.1
From the SSA
Soon when you are old enough you to will see the need for the SSA . Once you have lived and seen how life can change in a hart beat ( stroke ), car accident, a simple slip and fall and it's time for disability income insurance. How well are you covered ?
You said
1: Let them keep more of what is their own earned income.
If the recession Bush is trying to set up happens these folks at the bottom won't have any income. Oh by the way If you destroy the SSA how will these people eat fig1
From the SSA
The poor depend on the SSA more than you wealthy folks do.
The SSA retirement income benefits are everyting to the poor.
You said`
2: Stop trying to tell us what to do with our earnings.
Time to grow up ! The SSA is the most successful programs in the history of man. This LAW was enacted by Congress and signed by FDR.
You said
3: It is not yours, why is it you keep insisting that you have a right to my time of life?
What are you talking about???
You said
4: What is it you call poverty?
Poverty is a state of being, in which the " POOR " person has insufficient resources to live as most in the country live. DO YOU UNDERSTAND NO FOOD , DO YOU UNDERSTAND NO PLACE TO LIVE .
5: That has nothing to do with SSA any how other than you advocate theft from the poor to fund it.
WHAT DO YOU HAVE AGAINST SAVINGS FOR RETIREMENT
WHAT ARE YOU TALKING ABOUT. WHAT ARE YOU TALKING ABOUT???? I AM NOT A SADISTIC NE-CON EVANGELICAL ACTIVIST I DON'T WANT TELL YOU WHAT RELIGION SHOULD BE THE "STATE RELIGION " OF THE United States of America .
As a catholic I feel you and God have to work out your beliefs. It is not my business. I also feel you have a right to control what happens to your body,(A RIGHT TO PRIVACY ). I believe you should be able to read, and publish what you want, ( FREEDOM OF SPEECH ). I don't like th deliberate and systematic creation of a IMPOVERISHED WORKING UNDER CLASS to provide cheap labor for some of the wealthiest of the wealthy.
YES I AM A LIBERAL AND PROUD OF TO SAY IT. I believe this is an insult to the founders of this country.
Data from IDEAS at repec@repec.org
Full report at http://www.unicef-icdc.org/publications/pdf/repcard6e.pdf
The destruction of the SSA will slide us down this little list further. 
Can the silliness I know some have never been with out a credit card from daddy.
The SSA was and is one of the best retirment safety net programs on this plant. This program has and will survive the I HATE THE SSA lobby. From day one the struggle began with HOMELESSNESS, The present from Republicans in congress. Then came stupidity from both the Left and the Right , a FICA tax freeze when SSA was ramping up to become the intended PRE- PAID system FDR had designed.
And today SSA is under attack from the SADISTIC NE-CON EVANGELICAL ACTIVIST wing of the Republican party. There are 52 million people opposed to this latest assault, the lines have been drawn and the battle has been joined. The F.O.G. ( FRIENDS OF GEORGE ) and the SADISTIC NE-CON EVANGELICAL ACTIVISTS had better think "three times" we have a long memory, do you want to run for a HOUSE seat.
Simple SSA has been and should always stay the SAFETY NET.
When a retirement income portfolio is constructed there has to a BOTTOM, a base to build the rest of the portfolio on. The SSA benefit is this base. The RISK / REWARD balance of the portfolio must be generated from the base ( LOWEST RISK there for LOWEST REWARD ). This is the SSA benefits position. A standard asset allocation model will place at least two levels above the SSA benefit. A 401k is a good repository for the next two levels.
The SSA asset is basically bonds, the investment goal is appreciation via interest earned only no trading. A good next step would be a mutual fund targeting dividend paying stocks with the intent to buy and hold to accrue dividends and slow stock appreciation . The dips I stock price can be effectively countered with buying of the occasional put to lock in some profit from the dips. A stock mutual fund may also beaded as another asset class. If this mutual fund is selected to invest in growth stocks ( non dividend payers). This would give a good start..
6.14.05 postsThe tax revenues collected by the SSA are used to support Americans, these Americans live in America, there for all the money will go into the American economy . The administrative costs of the SSA are part of the American economy . The special issue bonds sold to SSA Trust are debit instruments of the American Government. When your neighbor buys food at the local Vons the workers at the store earn pay checks. When rent is paid a land lord can operate and pay bills and buy food for another month . This is the net effect of SSA's OASDI DI and other programs. We are fueling the American economy not China's . see fig.1
From 2004 SSA Condition report
Next time you are in the grocery store look around and count the folks over 50. The SSA pays 523 billion in benefits annually , thats 10.% of our consumer spending . and this amount is going to grow to over 50% of our consumer spending, when the boomers are in retirement.
THIS IS A TABLE LINKED TO THE SSA HISTORY PAGES
CLICK ON THE DATE RANGE OF INTEREST AND YOU WILL LINK TO THE SSA HISTORY PAGES
JUST SO PEOPLE CAN KEEP THEIR FACTS STRAIGHT
http://www.ssa.gov/history/chrono.html
1600s - 1800s |
1900s -1920s |
1930s |
1940s |
1950s |
1960s |
1970s |
1980s |
1990s |
2000s |
In 1942 the FDR scheduled FICA increase was frozen for the duration of WWII . That was 1942 to 1948. This is the first assault on the SSA Trust, Hitler. The most accurate description of the actuarial imbalance is given here along with a series of fixes , take your pick SSA Trust fixes.
The 2% approx. increase in FICA fixes the problem with a 104 % of SSA Trust fund balance, at the end of the 75 year valuation period. This leaves the gen "what evers" in the black and growing. With an extra 5 Trillion still at large in the economy and, SSA still alive and well paying 100% of benefits. I don't know where you intend to by a house but that has nothing to do with the small patch the SSA Trust needs.
http://www.keepingamericaspromise.com/features/kidsfirst/call.html
THIS IS A CBO CHART OF THE ACTUARIAL IMBALANCE
Please note a 2% increase in revenues will cover the short fall. Note the interest on the SSA Trust is not included in the revenue forecast.
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THIS IS A CBO CHART OF THE ACTUARIAL IMBALANCE
Please note a 2% increase in revenues will cover the short fall. Note the interest on the SSA Trust is not included in the revenue forecast.
There is another problem associated with the boomer retirement and their eventual dieing off. The small size of the gen Xer and the gen Y cohorts is going to create a large drop in consumer spending, and demand for goods and services. see fig.1
Just add the young boomers to the old boomers and wow compare them to the gen Xers. There must be preparations made to soften the loss of the boomer bucks. I see one method of doing this , by adding an extension to the SSA safety net . These are some requirements for such a plan.
You will need this when the company plan tankes
READ THIS IS HOW YOU TRANSFER WEALTH
SOME BASIC REQUIREMENTS FOR A PRIVATE ADDITION TO THE SSA BENEFIT. This is in addition to the SS FICA There is a higher limit on the annual contribution say 20k dollars/year. The FICA salary cap shall rise to $140,000.00 . The money is exempt from state and federal tax. The money grows tax free The money can be available from say 59 to 64 on, as a monthly pay out over 30 years. THE CONGRESS IS PRECLUDED FROM ANY FORM OF BORROWING FROM THIS ACCOUNT, THE EXECUTIVE BRANCH IS PRECLUDED FROM ISSUING ANY PROCLAMATIONS OR EXECUTIVE ORDERS ATTACHING OR USING THESE FUNDS FOR ANY PERPOSE OTHER THAN THE BENEFITS OF THE OWNERS . FURTHER THERE WILL BE NO COMMINGLING OF THESE FUNDS WITH ANY OTHER AGENCY OR BRANCH OF THE U.S. GOVERNMENT. NO LIEN OR ATTACHMENT OF THE "PRIVATE PLANs" LEGALLY OBTAINED AND DEPOSITED FUNDS BY ANY COURT, JUDICIAL ENTITY, OR ENTITY WILL BE PERMITTED BY THE U.S. GOVERNMENT. THESE FUNDS WILL BE INVESTED AND MANAGED AS A BOND FUND. THE OBJECTIVE WILL BE OPTIMUM LONG TERM YIELD . ALL US GOVERNMENT ISSUED AND GUARANTEED OPENLY TRADED US GOVERNMENT BONDS AND NOTES , OF ALL MATURITIES SHOULD BE USED AS NEEDED . The operation of the "private plan" should mimic the operations of a bond mutual fund. Interest compounding and, pay outs should be made quarterly . A $ 3.00 minimum per week contribution with a $20,000.00 yearly maximum . Extra deposits should be accepted via inter bank money transfers or EFET deposits to the account, also deposits can be made at any bank cash or check . Subject to the prevailing money laundering laws on the books . All deposits will be tracked by SSA and reported to the IRS as exempt income ( not taxable ) but reported . The total of all deposits will show up on the W - 2 form . The amount to be deposited via weekly payroll deduction should be easily changeable, up or down . The interest paid is as close to the coupon as clipped value as possible Once the agreed upon retirement age is reached the right to start, stop and restart benefit pay outs should be available. Each baby born an American Citizen at the issuance of his / her SS card will have 3.00 dollars deposited into his / her private plan, as a one time retirement grant. The Idea here is to reach the first $ 1000.00 in the account A.S.A.P. . For a new worker entering the work force and, living at home with his /her parents making extra deposits as savings would make for an comfortable retirement . When this worker moves up the pay scale increasing the weekly deposit and or making extra deposits will further increase the additional income provided by the " private plan " The power of large scale buying of bonds can reduce the fixed cost of the operation to the .02 % to ,01 % level. This plan has the potential to transform the idea of retirement living. This plan can double the safety net for new workers entering the labor pool. In order for us older folks to take advantage of this system we would have to increase the amount of our initial deposits. The best use for us older folks would be an cash trap , say after the sale of a house, what should you do with 50k excess profit ? shelter 20k , and let it turn into over $159,000.00 in 15 years . That points to the 6 trillion dollar question, why has not the brain trust that Bush has assembled figured this out . Is there some other reason why some thing like this is not on the table and, up for debate . There is some thing going on and they are not talking. WILL SOME ONE IN THE ADMINISTRATION PLEASE TELL THE TRUTH, WHAT IS GOING ON. This plan will enhance the savings rate in the country. The number of seniors on welfare will decline . The spending power of seniors will start rising just as the population starts to gentrify. As the baby fizzle of the, late 70's early 80's, moves to the workforce center stage, the spending power of the retied will be on the rise. To days pre-tweens will be entering the work force with their greater numbers and, will have spending support to maintain job growth. The pre-tweens will have at least a chance to establish themselves as an economic force. The number of seniors retiring to poverty should begin to approach 0 , because of the doubling of the safety net benefit. This plan has one goal to produce more customers. This country needs more customers with money. GROW OR DIE
THIS IS A CHART OF " THE CONSUMER MARKET "
NOTE THE SPENDING OF GEN XERS
The Gen X input is proportional to their current earnings, tiny as compared to the boomers. Any FICA tax or salary cap change will be mostly paid by the young boomers. The genXers should be happy that the boomers are , or will I hope pay for their own retirement with a FICA tax increase. There are so few gen Xers and Gen Y's, they will need every penny that can be transferred to SSA to pre pay for their retirement. Unless we transfer big bucks to the genXers at retirement our economy will be in deep dudu.
Using the pdf of SSA Trust fixes. Im not sure ? if the cap is raised and the benie's stay the same SSA will have 144% of the actuarial short fall. This will be needed when the Gen Xers retire. The size of the gen X ers and Gen Y's is scary , they are both so small. The problem is if the death of the boomers creates a deflating bubble we could be talking recession big time and SSA will be needed more than ever.
You get What you pay for SSA trust up and running paying 100 % of benefits with growing surplus. When the GenXers begin to retire.
6-15-05
GREAT IDEA ONE PROBLEM .. THE RNC IS OUT TO KILL OFF THE SSA
BY 2075 ALL THE BOOMERS ALL THE GEN XERS AND ALL THE GEN Y'S SHOULD BE DEAD OR DIEING.
Where are you going to come up with the extra SSA beneficiaries to burn up the Trust. Remember the flat fertility rate? ? May be you will be cloning people by then. We will be lucky if we can avoid a depression after the boomers die and consumer spending drops by 50 %. Where are the people going to come from????
2% fixes the problem click SSA Trust fixes. The non linear compound interest on the SSA Trust is not included in the chart. Remember if the trust never goes to zero no problem. By 2040 or so we start down the back side of the boomer bubble in retirement ( THE BOOMERS START DIEING OFF ).
THIS IS A CHART OF " THE CONSUMER MARKET "
NOTE THE SPENDING OF GEN XERS
The Gen X input is proportional to their current earnings, tiny as compared to the boomers. Any FICA tax or salary cap change will be mostly paid by the young boomers. The genXers should be happy that the boomers are , or will I hope pay for their own retirement with a FICA tax increase. There are so few gen Xers and Gen Y's, they will need every penny that can be transferred to SSA to pre pay for their retirement. There are a number of other ways to reach and or approach solvency SSA Trust fixes. .
Current economic projection 2004 to 2015 http://www.cbo.gov/showdoc.cfm?index=1824&sequence=0 if what you say is true then the chart is wrong revenues will rise not decline . " B Larsen } Did you see where for the first time, the number of K-12 children in public education has now exceeded the peak years produced by the boomers? " in 2020 or so when these people go to work they will pay FICA. more people paying FICA equals more revenues to SSA. maybe the real GDP will hold the current 3.1+% . what about the ever growing trust fund that is not part of this chart, this chart does not include interest on the trust funds . Remember the revenues have been in balance with the outlays for the past 75 years. That means there was no draw down on the trust fund.
Look at the size of the boomers.
RAISE THE MINIMUM WAGE BY 30% IF YOU ARE SO WORRIED ABOUT THE POOR
If you care about the poor lets here your support for the kids first act of 2005. There's no better place to start than with pressing for action on the Kids First Act of 2005.
What ,,, you hate kids, do think our current position as the 2nd from the BOTTOM when it comes to child poverty is a great position to be in and is befitting the U.S.A.
A increase in the minimum wage would go a long way to correct this problem and, the SSA Trust actuarial imbalance problem. See fig.1
From the CBO
Note the path from real wage growth, average earnings , average SSA taxes paid, SSA revenues, change in trust fund balance.
http://www.thestate.com/mld/thestate/news/local/11905946.htm
Looks like Hillary is no.1 in a early straw poll
http://www.thestate.com/mld/thestate/news/local/11905946.htm
To begin with we are talking about the end of the 75 year valuation period. A 2% inc in FICA brings the revenue vs outiays chart into balance. SSA Trust fixes. This leaves the SSA trust fund at 104 % at the end of the valuation period. see fig.1
from CBO
Frist in order for your scenario to evolve there can't be any increase in the GDP growth rate above 1.8% on average
the current rate is 3.5% as per the BEA's GDP Q 1 2005. Each quarter and each year that the GDP Growth rate is above the "Bush number" the less likely the imbalance will take place. An increase in the minimum wage will increase the trust fund balance. If the legal immigration continues to grow over the next 75 years the trust fund balance will grow. See fig. 2
Chart from the CBO
Please note a drop in the unemployment rate will increase the trust fund. An increase in interest rates will increase the trust fund. Inflation can raise the trust fund balance. Unless Bush is going to force this country into "stag flation " for 50 years or so and never allow wages to keep pace with inflation. A 2% increase in FICA will provide a suitable large Trust cash balance in 2080. Is this the Bush plan hold down wages, keep the unemployment rate high, put the breaks on interest rate hikes. Run the largest deficits possible to suck the life out of the economy, to kill the SSA ?
The Bush administration has kept Bush's promise to make the U.S.A. like Texas the rich get richer and the middle class gets poorer, the poor die off.
Look again at both charts
Now
Compare the two charts and note in the 3 bar chart the genXers and the gen Y's and all those who are younger are added together, also the 2 cohorts called boomers are added together, the "empty nesters" and the "retired" are added together . the boomers spend 2 times any of the other two.
From BLS http://www.bls.gov/opub/ooq/2003/winter/art05.pdf
This chart shows the labor force break down ( projected ) in 2012. Problem how can we get this tiny population to double its spending per capita to replace the boomers, so the USA economy can keep growing.
look at fig.1
from the CBO
find the little box marked change in trust fund balance. This is what we want to grow, The Trust fund is held in bonds to earn interest Goldman Sakes makes billions trading bonds if you think the value of the bonds in the SSA Trust is " 0 " I can't help you. Bush started his 2000 campaign bid with $800,000.00 in these worthless , as you call them bonds. Do you believe in banks or do you stuff money under your mattress. Stop the pseudo intellectual , pseudo economic double drivel
That is personal I'd like to see large cash balances in the SSA Trust that I believe should be made available to the government for EMERGENCIES ONLY
NOT BOONDOGGLE TAX CUTS and other pork for the F.O.G. ( FRIENDS OF GEORGE ).
These are issues that the Bush administration ignores. A family of two trying to live on $5.50 per hour is sleeping under a bridge. Children work 7 days per week to keep the tomatoes and onions cheap for Mac and Don's, this is the epitome of the Bush revolution. 2 Trillion in debit and growing and, Bush wants 4 Trillion more over the next 20 years
This is very simple. The chart in fig.1 shows what will happen if only the FICA is increased by 2%. 2% is added to the non-interest income for each year . This sum is added to the projected interest for that year, ( there is no compounding of the 2% increase). From this value that years projected costs are subtracted. This new value is added or subtracted from the previous years total assets, to yield this years total assets. (PROJECTED INCOME-INTEREST+ 2%)+ INTEREST INCOME PROJECTED COST + PREVIOUS YEARS PROJECTED TOTAL ASSETS . This modification does not take into account (1) The compounding of the 2% increase each year in the Trust fund value computation.
fig.1
Also note the change in scales in the supplied data.
You are right this is a divergent function the compound interest is a exponential function. The costs of the SSA can't keep pace with interest allowed to compound on the SSA Trust.
see the low cost SSA actuarial model fig.2 This is what FDR wanted compound interest to kick in and drive the trust fund balance instead of annual taxes. There was one unforeseen problem WWII , during which the FICA TAX WAS FROZEN . These four years, when the tax was to go from 1% to 3% I think were critical in the compound interest calculation, as a result we are now short billions in the trust.
The answer is simple increase FICA by 2% fig.1
The results are obvious.
There is the low cost model
Nice to have this one look at the SSA Trust balance at the end of the chart.
The intermediate model wow what dive in the Trust fund. Note what happens when a 2% FICA increase is added to the income per year.
(PROJECTED INCOME-INTEREST+ 2%)+ INTEREST INCOME PROJECTED COST + PREVIOUS YEARS PROJECTED TOTAL ASSETS . This modification does not take into account (1) The compounding of the 2% increase each year in the Trust fund value computation.
Given your pronouncement as the truth it is. That would imply fig.1 as a possible out come for the SSA Trust.
We may be able to obtain this if we keep up a GDP GROWTH RATE of 3.1 % or better and we can reverse the Bush jobs bust.
If we can maintain an monthly increase in jobs of 133,000 we will be closer to fig.1 than fig.2
As insurance we could also increase FICA by 2% look at what it does to the intermediate model.
(PROJECTED INCOME-INTEREST+ 2%)+ INTEREST INCOME PROJECTED COST + PREVIOUS YEARS PROJECTED TOTAL ASSETS . This modification does not take into account (1) The compounding of the 2% increase each year in the Trust fund value computation.
THIS IS A TABLE LINKED TO THE SSA HISTORY PAGES
CLICK ON THE DATE RANGE OF INTEREST AND YOU WILL LINK TO THE SSA HISTORY PAGES
JUST SO PEOPLE CAN KEEP THEIR FACTS STRAIGHT
http://www.ssa.gov/history/chrono.html
In 1942 the FDR scheduled FICA increase was frozen for the duration of WWII . That was 1942 to 1948. This is the first assault on the SSA Trust, Hitler.
The scheduled FICA increase was to go from 1% to 2% , this was part of the start up phase of SSA Trust. Hitler's war and Pearl Harbor forced the government to reallocate assets and taxes. FDR's plan was never fully funded. From the beginning SSA was under funded. If the last 70 years has been under funded limping along, I wonder what The SSA Trust can become if allowed to grow with a 2% FICA increase and continued maintenance.
Dont be scared by the tecno- babble 13 Trillion is equal to the
Remember that Bush is in control of the RNC run House and the RNC run Senate. This is the Bush Congress.
The savings rate will be just fine, what there is of it. For the blue collar worker its 2 big mac lunches / week, 1 Play Boy a Cosmopolitan. Did you here oil hit $60.00/barrel. This is a small price to pay to solidify one leg of your own retirement. The biggest problem I am finding with the SSA Trust is the very sly ways that some one in the SSA is trying to hinder out side use of the SSA Trust data presented in the Trustees Report that is readily available to the public online. The data supplied by SSA is clumpy at critical intervals in key time periods and, deleted in other key places.
I don't know what is wrong with you and your friend but I would be more worried about the BOOMERS retiring to 50% of pre retirement income in the 2010 to 2042 time range. The loss of 1 TRILLION in consumer spending will cause a recession as per the Bush stump speech ( HE KNOWS WHAT IS GOING TO HAPPEN ) . That is why the RNC is trying to grab as much pork for their constituency as they can and loading the SSA Trust and the country up with as much debit as possible.
If you do that the USA will have the highest child poverty rate of all the industrialized nations http://ideas.repec.org/p/ucf/inreca/inreca05-9.html !! Try buying a weeks worth of groceries with out MONEY . HERE ARE SOME LINKS TO EXAMPLES OF BAD DATA FROM SSA
GOOD DATA FROM SSA http://www.ssa.gov/OACT/TR/TR04/images/LD_figIVB1.html
http://www.ssa.gov/OACT/TR/TR04/images/LD_figIVB2.html">
http://www.ssa.gov/OACT/TR/TR04/images/LD_figIVB4.html
http://www.ssa.gov/OACT/TR/TR04/images/LD_figIVB5.html
DELETED DATA BAD DATA
http://www.ssa.gov/OACT/TR/TR04/images/LD_figIVB3.html
CLUMPY LUMPY DATA BAD BAD DATA
http://www.ssa.gov/OACT/TR/TR04/IV_LRest.html#wp222177
http://www.ssa.gov/OACT/TR/TR04/IV_LRest.html#wp257923
http://www.ssa.gov/OACT/TR/TR04/VI_OASDHI_dollars.html#wp94756 2015 TO 2080
LOOKS LIKE SOME ONE IS VERY BUSY CENSORING DATA To prevent us the owners of the data from fully understanding the SSA Trust solvency issue. It is your right and mine to analyze the character of the short fall and develop ideas of how the potential problem can be dealt with. Given the nature of the calculations and the number of years over which the problem is played out smooth data (year by year, 2004 to 2080 ) in the following tables
http://www.ssa.gov/OACT/TR/TR04/IV_LRest.html#wp222177
http://www.ssa.gov/OACT/TR/TR04/IV_LRest.html#wp257923
http://www.ssa.gov/OACT/TR/TR04/VI_OASDHI_dollars.html#wp94756 2015 TO 2080
and complete data in this table.
http://www.ssa.gov/OACT/TR/TR04/images/LD_figIVB3.html
Would leave us with our own mini model to evaluate the effects of small changes in trust fund balance, I suspect that we were not supposed to find documents like SSA Trust fixes. that give a percent of actuarial balance per tweak in the SSA system. This mess looks like it was intended for us to look at pretty charts with glazed eyes as we were covered in PERCENT of GDP double speak. Looking like rows of bobble head dolls nodding in agreement. Remember the Presidents road show, by invitation only. AT LEAST THESE BUMS CAN TAKE CARE OF THEIR CHILDREN !!!!
Spoken like a true upper middle class professional who has never understood what long hours for low pay and little reward is all about. If you prefer welfare to SSA maybe you should fill out the paper work to apply for welfare, just to see what you are talking about. You have no idea what you are talking about unless you have at least filled out the paper work. I MUST HAVE FOUND SOME THING THE AARP ( GOVERNMENT ) CENSOR BOT HAS CLAIMED THAT GAO DATA IS COPY PROTECTED. "8" BALL CLICK AND READ IF YOU CAN The cooks on AARP'S staff are censoring this post. Have these people lost their minds is this HITLER'S GERMANY ???.
CAN ANY BODY MAKE SENSE OF THESES PP SLIDES?
Some how I have contracted The CENSOR BOT in a search through the GAO web site I found a Power Point presentation that referenced "unified surpluses". The only time I have head of "unified surpluses" is in the budget, as they referred to the USPS pension trust fund and the SSA Trust, what are they planning
HAS ANY ONE OUT THERE HEARD OF PROGRAM TO " ELIMINATE UNIFIED SURPLUSES " program in the GAO ?
I ran across this power point presintation on the GAO web site. WHAT ARE THEY TALKING ABOUT ????
http://www.gao.gov/cghome/hvd/sld031.htm
NOW CHECK THIS ONE
IS THIS SOME SIMULATION OF THE GOVERNMENT WE DON'T KNOW ABOUT, WHAT ARE THEY PLANNING TO DO TO SSA TRUST ?? THE ONLY DISRUPTION ON THIS BOARD IS THE AARP CENSOR BOT THAT CAN'T READ ONCE AGAIN CENSOR BOT HAS CLAIMED THAT GAO DATA IS COPY PROTECTED. "8" BALL CLICK AND READ IF YOU CAN DESPITE THE IGNORANT INTERFERENCE FROM THE CENSOR BOT I HAVE GAINED A NEW PERSPECTIVE ON THE SSA TRUST SOLVENCY ISSUE, THAT OF PRESIDENT BILL CLINTON RATTLING ABOUT THE OVAL OFFICE TRYING TO FIGURE A WAY AROUND THE SSA , INVESTMENT / LACK OF GOVERNMENT DEBIT ISSUES/ THEN CURRENT LAW RESTRICTIONS ON SSA INVESTMENTS, IN THE SHADOW OF THE COMING BOOMER RETIREMENT , WITH LARGE BUDGET SURPLUSES AS FAR AS THEIR EYES CAN SEE. AS NEWT AND COMPANY SLING MUD, WHITE WATER AND MONICA AT THE WHITE HOUSE We are 2nd from the bottom of all industrialized countries , when it comes to CHILD POVERTY.
Data from IDEAS at repec@repec.org
Full report at http://www.unicef-icdc.org/publications/pdf/repcard6e.pdf
Lets add to the UNICEF report and the Qinnell report, the recent Supreme Court decision on " eminent domain " to President Bushes campaign promises " to bring the quality of life of Texas to the rest of the nation ". The result is the wealthy get wealthier the middle classes get poorer and the poor die off. This is the Bush doctrine
The data problems in the trustees report are obvious.
The first problem is deletion
http://www.ssa.gov/OACT/TR/TR04/images/LD_figIVB3.html
If you look at the data in this table note the where the data has been replaced with " 1/ ". These values were negative numbers that characterized the actuarial short fall they are gone. Removed after the table was created. They were edited out.
http://www.ssa.gov/OACT/TR/TR04/VI_OASDHI_dollars.html#wp94756 2015 TO 2080
The data "clumping " prevents you or me from using their numbers to create a very accurate and simple model to try different changes to the SSA cash flow system that fully incorporate the compounding of interest. Note the clumping begins at 2015 (5 year intervals instead of 1 year) to prevent easy interest compounding by us lay folks.
All in all the game remains the same, lie, obfuscate , dissemble, around and round we go.
You wrote
"With all due respect, you are an ostrich with his head in the sand.
Old age support is not simply about shifting around available resources to meet current demands for old age support. Old age support depends upon a lifetime of preparations that cannot be made when one is already elderly.
Back in 1935, FDR rejected a proposal for Social Security that projected insolvency in 1980. Now we have a Social Security system projected for insolvency a mere 36 years into the future in 2041.
Back in the 1930s, they fairly accurately projected the demographics and the demographic nature of the problem we face.
Wake up! "
CLICK ON THE DATE RANGE OF INTEREST AND YOU WILL LINK TO THE SSA HISTORY PAGES
JUST SO PEOPLE CAN KEEP THEIR FACTS STRAIGHT
http://www.ssa.gov/history/chrono.html
In 1942 the FDR scheduled FICA increase was frozen for the duration of WWII . That was 1942 to 1948.
The scheduled FICA increase was to go from 1% to 2% , this was part of the start up phase of the SSA Trust. Hitler's war and Pearl Harbor forced the government to reallocate assets and taxes. As a result of these occurrences FDR's plan was never fully funded. From the beginning SSA was under funded. In compound interest calculations the resultant function is one of a Yx power function, where small changes in the early rates of change in principal deposits and interest rates will have an exponential impact on balances in the later compounding periods( 50 to 60 compoundings later). If the last 70 years has been under funded limping along, I wonder what The SSA Trust can become if allowed to grow with a 2% FICA increase and a lot of the small " tweaks " I have seen described on these boards. THE BEST CAN BECOME BETTER
This is just one more step down the road to the United Fascist States of America.< p>
Our motto Dissemble Obfuscate Lie.
< /font> That is very interesting so there were two reasons for the under funding. The result is the same , SSA has never been properly funded, as a program that is intended to take advantage of interest earned on bonds over decades of operation, this under funding is one of the most harmful things that could have happen to the SSA. The strength of the
SSA's initial design and the dedication of the early employees is a testament to patriotism and a sense of DUTY . Name one program of any type that has persevered through such adversity.
You worte
"In sum, World War II had nothing to do with the postponement of the payroll tax increases required by the 1935 Social Security Act. And FDR did not support the elimination of those payroll tax increases, which increases were necessary to build the reserve fund known to be necessary to allow Social Security to be financially solvent without excessively increasing payroll taxes in the future (i.e., on us)."
Looks like some one has been out to destroy the SSA from it's inception. My how they have failed. Can we let them win now?
Note the "1\" that has been added to the data table in place of negative numbers.
Is there something here we should not see ? Why here and not here what's up. No mater what you may think needs to be done about the SSA Trust solvency problem why is some one CENSORING DATA IN THE TRUSTEES REPORT ?
The SSA system was designed to be a pre-funded system by FDR. The SSA system was designed to become a pre-funded system over the first 10 years.
The idea is simple EVERY BODY IS " IN " THIS IS A SAFETY NET REMEMBER ENRON I THINK A LOT OF THOSE PEOPLE ARE GLAD THAT SSA WILL BE THERE FOR THEM.
I think wmhart1found some good info on this I must re scan the SSA History pages. The SSA History pages may be " INCOMPLETE " some things have been left out ?!!!!
http://community.aarp.org/rp-legislative/messages?msg=22451.14
Looks like the I HATE SSA LOBBY won their first battle a long time ago.
In 12' of 1982 and 1' 0f 1983 I was lead to believe that I had opened two retirement accounts one a kehog (Capital value ) for $12,000.00 (less the front end load) and the other a 401k ( New Leaders ) for $12,000.00 (no load ). The funds came from my vestment bonus at Sperry Information Systems ( now called Unisys ). I have never seen a penny of the money that was supposedly in the two accounts . Dozens of letters and visits to the Minneapolis FBI field office , The EEOC Dept. of Labor, Federal civil # 484500, have yielded nothing . Now the sleezzbag RNC is out to destroy the SSA . So please don't talk about " owning an investment " as though it is the ultimate in security . NOW the Supreme Court has rewritten the rules on "emanate domain " what is next take your pension funds if they want them, or just take your house if one of their wealthy friends wants the land . My best advice to you is get a lawyer, if you can.
REMEMBER DISSEMBLE OBFUSCATE LIE
YOU STATED
1. Respectfully, this is not your issue. This is an issue for a new generation of Americans. Today's young people think and act differently about money and saving than the current generation of retirees. The majority of us feel that we need to control and OWN our retirement assets to the greatest degree possible. Please do not use your time and votes to maintain a system that we do not want.
The boomer retirement is a is an issue created by the presence of the boomers and must be dealt with by the boomers , there are just not enough of the gen Y's to do any thing about the problem. fig.1
Toddle down the hall to the marketing department they will verify this demographic break down. We the boomers must pay for our own retirement . You the gen X'ers and gen Y's must be left with SSA Trust in surplus and paying full benefits. Any thing else and you will preside over 30 years of stag-flation ( ask some of the old farts at the office about Carter years ) a fun time for bankers. The SSA Trust actuarial imbalance is the boomers problem to fix or to blow big time. You the gen X . gen Y's will inherit the resulting mess or success This is your lot. If the greed of the RNC wins out you will be saddled with 5 Trillion to 15 Trillion in new debit, a failing economy, China sucking all the oil out of the US, and a China with a GDP growing at 8% to 10% per year. As the US declines with a GDP growth rate of 1.8% per year and, 15 Trillion in new debit burden. Have a nice day these are the choices the out comes . a suitable ensemble of small SSA tweaks to produce SSA solvency are here SSA Trust fixes.
If you have seen the news of the recent private pension plan " under funding " problems and the " ENRON " mess you will see the need for SSA as a back stop " a plan B ". YOU STATED
2. While the AARP seems consider Social Security to be a great promise to Americans, a majority of us see it as the promise broken. Too many of our seniors and other retired individuals struggle to make ends meet on the measely Social Security checks they recieve each month. As a banker, I see first hand every single day individuals who wait on baited-breath for their social security check to come in, only to be spent completely within days on basic needs. More heartbreaking are the very elderly who find themselves down at the cash advance loan sharks calculating how much of their check will have to go the usurious interest because they NEED 500 today and not 600 3 days from now.
The SSA is one of the most successful programs ever created and has done the following . see fig 1
From the 2004 Trustees report
Looks like a lot of people feeding them selves note the drop in the poverty rate.
look at this fig.2
From the 2004 Trustees report
There are a lot of folks living like human beings and not "dumpster diving " because of SSA. Is this truly an out dated and broken down program, that is the primary support for 10's of millions of people on an ongoing basis and can build a surplus to boot.? I don't think so.
If you are looking for an alternative to the Bush plan here is one.
My preference is to increase the FICA tax by 1.9% to 2% , lift the salary cap on the FICA tax to say $150 K this will stabilize the SSA trust. Next I would implement an addition to the SSA safety net in addition to all other retirement programs, and doesn't interact with or limit participation other plans or programs. SSA Trust fixes. is a list of SSA tweaks and their resultant effects on the SSA Trust.
You will need this when and if the company plan tankes
READ THIS IS HOW YOU TRANSFER WEALTH
SOME BASIC REQUIREMENTS FOR A PRIVATE ADDITION TO THE SSA BENEFIT. This is in addition to the SS FICA There is a higher limit on the annual contribution say 20k dollars/year. The FICA salary cap shall rise to $140,000.00 . The money is exempt from state and federal tax. The money grows tax free The money can be available from say 59 to 64 on, as a monthly pay out over 30 years. THE CONGRESS IS PRECLUDED FROM ANY FORM OF BORROWING FROM THIS ACCOUNT, THE EXECUTIVE BRANCH IS PRECLUDED FROM ISSUING ANY PROCLAMATIONS OR EXECUTIVE ORDERS ATTACHING OR USING THESE FUNDS FOR ANY PERPOSE OTHER THAN THE BENEFITS OF THE OWNERS . FURTHER THERE WILL BE NO COMMINGLING OF THESE FUNDS WITH ANY OTHER AGENCY OR BRANCH OF THE U.S. GOVERNMENT. NO LIEN OR ATTACHMENT OF THE "PRIVATE PLANs" LEGALLY OBTAINED AND DEPOSITED FUNDS BY ANY COURT, JUDICIAL ENTITY, OR ENTITY WILL BE PERMITTED BY THE U.S. GOVERNMENT. THESE FUNDS WILL BE INVESTED AND MANAGED AS A BOND FUND. THE OBJECTIVE WILL BE OPTIMUM LONG TERM YIELD . ALL US GOVERNMENT ISSUED AND GUARANTEED OPENLY TRADED US GOVERNMENT BONDS AND NOTES , OF ALL MATURITIES SHOULD BE USED AS NEEDED . The operation of the "private plan" should mimic the operations of a bond mutual fund. Interest compounding and, pay outs should be made quarterly . A $ 3.00 minimum per week contribution with a $20,000.00 yearly maximum . Extra deposits should be accepted via inter bank money transfers or EFET deposits to the account, also deposits can be made at any bank cash or check . Subject to the prevailing money laundering laws on the books . All deposits will be tracked by SSA and reported to the IRS as exempt income ( not taxable ) but reported . The total of all deposits will show up on the W - 2 form . The amount to be deposited via weekly payroll deduction should be easily changeable, up or down . The interest paid is as close to the coupon as clipped value as possible Once the agreed upon retirement age is reached the right to start, stop and restart benefit pay outs should be available. Each baby born an American Citizen at the issuance of his / her SS card will have 3.00 dollars deposited into his / her private plan, as a one time retirement grant. The Idea here is to reach the first $ 1000.00 in the account A.S.A.P. . For a new worker entering the work force and, living at home with his /her parents making extra deposits as savings would make for an comfortable retirement . When this worker moves up the pay scale increasing the weekly deposit and or making extra deposits will further increase the additional income provided by the " private plan " The power of large scale buying of bonds can reduce the fixed cost of the operation to the .02 % to ,01 % level. This plan has the potential to transform the idea of retirement living. This plan can double the safety net for new workers entering the labor pool. In order for us older folks to take advantage of this system we would have to increase the amount of our initial deposits. The best use for us older folks would be an cash trap , say after the sale of a house, what should you do with 50k excess profit ? shelter 20k , and let it turn into over $159,000.00 in 15 years . That points to the 6 trillion dollar question, why has not the brain trust that Bush has assembled figured this out . Is there some other reason why some thing like this is not on the table and, up for debate . There is some thing going on and they are not talking. WILL SOME ONE IN THE ADMINISTRATION PLEASE TELL THE TRUTH, WHAT IS GOING ON. This plan will enhance the savings rate in the country. The number of seniors on welfare will decline . The spending power of seniors will start rising just as the population starts to gentrify. As the baby fizzle of the, late 70's early 80's, moves to the workforce center stage, the spending power of the retied will be on the rise. To days pre-tweens will be entering the work force with their greater numbers and, will have spending support to maintain job growth. The pre-tweens will have at least a chance to establish themselves as an economic force. The number of seniors retiring to poverty should begin to approach 0 , because of the doubling of the safety net benefit. This plan has one goal to produce more customers. This country needs more customers with money. GROW OR DIE
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good thinking but you are swimming up stream like the rest of us against the Bush jobs bust. Fig.1
CHART FROM "OLDBLUE"
The RNC could never back such a idea, You don't borrow enough money. Every body knows a real proposal that the RNC can sign on to must borrow at least 1 Trillion dollars provide at least a 40% to 60% benefit cut to recipients. There must be no " fix " of the SSA solvency issue, all fixes like SSA Trust fixes. are " verboden ".
06.12.05 posts 06/13/05The 3.1% GDP GROWTH RATE is the " AEO2005 REFERENCE " which can be found at http://www.eia.doe.gov/oiaf/aeo/forecast.html. The AEO2005 REFERENCE is the intermediate projection used by DOE. There is a high estimate and a low estimate given , with a range of values over time. It looks lie the DOE numbers have nothing to do with SSA Trust or the budget. The budget numbers are at http://www.cbo.gov/showdoc.cfm?index=6060&sequence=2 Table 1-2 the last entry under a subheading of memorandum. I took the list of values used the 48GF/X to generate a average rate of change. then I plotted and charted them in Excell .
I have come across a qualifier that has been used with GDP presentations " chain weighted 2000 dollars " . Yet in Table 1-2 I didn't see any such qualifiers.
The simple adult solution is to pay for yours and my retirement in the SSA system with our money. Why should we force the Gen Xers , gen y's and the next two after that to pay of Trillions in new debt. Why resort to smoke and mirrors to avoid our responsibilities for our actions . This is the current Bush legacy
Deficits as a percentage of GDP
from http://www.cbo.gov/showdoc.cfm?index=6060&sequence=2
Look what the BOONDOGGLE TAX CUTS will do for our grand children.
Real deficits BY " OLDBLUE "
THIS IS A LOOK AT THE NATIONAL DEBIT OVER THE YEARS
Chart from " OLDBLUE "
I think that we can do better for America. Why not pay our own bills . We are creating this bubble of consumption and greed how can we responsibly force the next three generations to pay our debits
It's simple $14.00 /worker / week @ 35k/year salary, the cost of two mac and dons lunches /week . Are the boomers that greedy and selfish, too cheap to pay their own retirement costs. I will be happy to pay my share of the 1.92 % actuarial short fall, it's 2% of payroll tax, rather than shaft the next three generations. SSA Trust fixes.
see item 11
Hunters respect their prey, I never voted for Bush but I can't call him a traitor, I can't create wild ugly roomers about his wife. Does Dean condemn Bush's daughters as sexual perverts and drunken hussies no. Are the RNC's real family values, denigrate and smear the family, are these the true values of the RNC ? smears distortions and lies. I wonder, why does the effluent just keep oozing out of this party, every election cycle. May be there is a connection here.
Question will all the toilets of the right wing RNC leadership flush to the Amazon best seller list ??
"The conservative movement has PASSED into history ."
Pat Buchanan
Why don't I feel better ?
Look out Pat this case of diarrhea of the surrogates and the constipation of the leadership is just getting started. The RNC's 50 bottom manure spreader is just cranking up. The RNC's hate machine is being primed to feed the beast and cover the people.
Break out the hazmat suits, zip'em up tight and pass the antibiotics. The election movement is just beginning.
SSA THE STRONGEST and THE BEST
Social Security system has been fighting for it's survival since 1942. In 42', from 42' to 47 the FICA tax was frozen at 1% by congress, this was not part of the FDR plan. FDR had called for an increase in FICA that year. This temporary freeze has created a short fall in the trust fund. The only way the current law system can function correctly is by sustaining a large Trust fund surplus and having that surplus grow via compound interest on the bond investments. The surplus should grow by three main methods.
(1) FICA tax increases ( buy law)
(2) Wage increases that track cost of living / inflation
(3) Compound interest on the surplus
The only one of the 3 that has been operating correctly is the compound interest component. The SSA system has been under continuous attack from the congress in various ways, the most recent has been S-774 a bill that has been introduced by Senator Bunning. Does any one remember the " wage price freeze " well guess what wages and the SSA lost. Does any one remember the Minimum wage increase that was recently killed by the RNC in congress, SSA lost. Every time wages are held down or prevented from rising to meet price increases SSA loses.
Now in order to correct all of these losses over the years congress must act as the did in 83', a 2% increase in the FICA tax rate will net a 104% Trust fund ratio at the end of the 75 year valuation period. SSA Trust fixes. ( item 11 ) The problem is fixed and the SSA Trust is left in tact and growing. The greed of some is about to destroy the lives of the many.
The SSA Trust system has shown its vitality and strength by just surviving the continuous assaults on it's funding by right wing ideologs bent on it's destruction
THIS IS A TABLE LINKED TO THE SSA HISTORY PAGES
CLICK ON THE DATE RANGE OF INTEREST AND YOU WILL LINK TO THE SSA HISTORY PAGES
JUST SO PEOPLE CAN KEEP THEIR FACTS STRAIGHT
http://www.ssa.gov/history/chrono.html
1600s - 1800s |
1900s -1920s |
1930s |
1940s |
1950s |
1960s |
1970s |
1980s |
1990s |
2000s |
http://www.cbo.gov/ftpdocs/32xx/doc3235/SocSecUncertainty.pdf is a good starting point to show the deceptive nature of the administration and the CBO. This can be demonstrated by pag.13 SUMMARY TABLE 1.
fig 1
The CBO is creating a complex morass of reverse engineered functions based on the SSA's deterministic model of the Trust fund over the 75 year valuation period. The potential for abuse is mind boggling. The SSA deterministic model is complex to say the least but this new stochastic modeling with out " intense bipartisan supervision " can be distorted and " spun " to outlandish levels of distortion.
It is looking like CBO is moving to this stochastic system for all projections. Note fig.1 the 2nd column. Why is each entry on the high side as compared to the SSA's model .
+.29
+.52
+2.02
This rather consistent deviation seams rather odd since the administration is bent on selling the idea that SSA Trust is going bankrupt.
Now lets add this new method of generating projections with the Variable GDP yard stick. Fig.2 is what we come up with
This is what you end up with the intersection of three stochastic models, each with their own range of uncertainties. The " y " axis is the reference " % of GDP " which GDP GROWTH rate was used ? " Revenues " This will be a function of GDP, number of workers paying FICA , interest on the Trust real wage growth. " OUT LAYS " a function of "cola's" , SSA labor costs SSA energy costs , and the number of beneficiaries.
Can we make this any more complex to dumbfound the us old farts.
The bush administration is in the best of all positions when it comes to the SSA Trust actuarial imbalance.
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