slash Social Security?

[RC]

Dear MoveOn member,

You can't make this stuff up. The economy is in shambles, unemployment is at record levels and home foreclosures are soaring. Congress can't get it together to act on these issues. But there's growing momentum in Washington to—wait for it—slash Social Security?

Believe it. Republicans are campaigning on benefit cuts. Conservative Democrats like Steny Hoyer are echoing their talking points.1

Everyone's counting on the Deficit Commission to do the dirty work. The commission is stacked with conservatives who've embraced cutting Social Security, and both houses of congress promised to fast-track a vote on its recommendations.2 3 That means that even though no jobs bill can pass congress right now, Social Security cuts might.

To stop the cuts, we need to send a crystal-clear message to members of Congress: Americans reject benefit cuts, and we expect them to do the same. Can you sign our promise to oppose cuts to Social Security? We'll use your signature to pressure them to sign a pledge protecting Social Security while they're home in your state for recess. But we need a strong response to make our point.

My response -

I am 66 and have been working for 48 years to get to retirement age and NOW YOU WANT TO CUT MY social Security? Don't think so!
How about looking at your own pay and retirement benefits first!
Social Security is and never was part of the general Fund and therefore cannot be part of the solution to curb the Bush Administration debt. Go look at the people at the top that have the money instead of those of us at the bottom that are struggling to survive!

[SoCalDem]

1. Um..Johnson put SS into the general fund

and allowed congress to gut it & use the Boomer payments at will, replacing it with worthless IOUs..

"They" say that the IOUs are backed with the full-faith of the treasury.. well..isn't that special.? Don't we all have full faith in that ?:(

[laughingliberal]

3. I have faith. I keep it right next to my hope. nt

[snake in the grass]

14. Where do you keep your "change"?

I used mine to buy a pitchfork. I have the feeling I'll be needing it soon!

[Vincardog]

5. If you don't trust your T bills, Send them to ME. I still trust them.

[RB TexLa]

8. You don't have to have full faith in T-Bills, you can buy CDS on them very cheap

[flamin lib]

20. LBJ DID NOT MOVE SS TO THE GENERAL FUND!

Ronald Reagan did that as part of the Tax Reform Act of 1983. Go look it up.

[SoCalDem]

26. The "unfied budget" 1968

Reagan was responsible for walking through that "opened door"..with a vengeance, but the first budgetary accounting change was in 1968.

http://www.ssa.gov/history/BudgetTreatment.html



snip................


From the beginning of the Social Security program its transactions were reported by the administration as a separate function in the budget. This is sometimes described in present usage by saying that the Social Security program was "off-budget." This was the budget representation of the Social Security program from its creation in 1935 until 1968.

"On-Budget"-

In early 1968 President Lyndon Johnson made a change in the budget presentation by including Social Security and all other trust funds in a"unified budget." This is likewise sometimes described by saying that Social Security was placed "on-budget."

This 1968 change grew out of the recommendations of a presidential commission appointed by President Johnson in 1967, and known as the President's Commission on Budget Concepts. The concern of this Commission was not specifically with the Social Security Trust Funds, but rather it was an effort to rationalize what the Commission viewed as a confusing budget presentation. At that time, the federal budget consisted of three separate and inconsistent sets of measures, and often budget debates became bogged-down in arguments over which of the three to use. As an illustration of the problem, the projected fiscal 1968 budget was either in deficit by $2.1 billion, $4.3 billion, or $8.1 billion, depending upon which measure one chose to use. Consequently, the Commission's central recommendation was for a single, unified, measure of the federal budget--a measure in which every function and activity of government was added together to assess the government's fiscal position.

This change took effect for the first time in the President's budget proposal for fiscal year 1969, which President Johnson presented to Congress in January 1968. This change in accounting practices did not initially put the President's budget proposal into surplus--it was still projecting an $8 billion deficit. However, it is clear that the budget deficit would have been somewhat larger without this change (it is difficult to say how much larger because this change was mixed-in with the other legislative, budgetary and fiscal policies the President was urging Congress to adopt). In early 1969--just five days before leaving office--President Johnson sent his 1970 budget message to Congress, also using the revised accounting procedures. At this point, a year later than his initial estimate, he was projecting the budget for 1969 to be in a net balance of $2.4 billion. (The fiscal year 1969 began on January 1, 1969, even though the President had released his FY 1969 budget almost a year earlier.)

snip

[flamin lib]

28. Yeah, it was an accounting change. It was Reagan who

actually moved trust funds to the general fund and began paying benefits from the general fund.

http://www.ssa.gov/history/1983amend.html

The changes were accepted from the Greenspan Commission's suggestions. The program was in serious trouble and instead of looking for a funding fix long term they tinkered with it.

So I guess we're both right?

[SoCalDem]

34. Sadly, Johnson opened the door for Reagan

Republicans love to briar patch dems into doing something, and then later using them for cover when they F the whole thing up:grr:

[Statistical]

21. "backed with the full-faith of the treasury"

If you think treasury will default you have a lot bigger problems than just SS.

Like every savings account, checking account, brokerage account, money market account, and CD backed by FIDC which is backed by full faith and credit of US treasury.

If treasury defaults on a bond it is litterally game over for entire US economy.

To call treasury bonds, the highest rated and most respected sovreign debt "worthless IOU" is at best hyperbole and at worst shows a complete lack of understanding on how credit markets work.

If you have no faith in the treasury I am sure you demand you paycheck to be paid in gold, or bullets, or canned food instead right?

[SoCalDem]

27. I think the whole scheme will hold together long enough for me , but

for the younger ones ...you're the ones rolling the dice..and I have my fingers crossed for you.


Not that many years ago the "experts" were just A+,superdooper, 100% sure that Wall Street was so vibrant...so healthy that even when Boomers retired, there would not be so much as a blip..

[elleng]

2. No, they don't WANT to, and they won't do it; we won't let them.

(I'm 65.)

[Faygo Kid]

4. THIS is the issue for the Dems. Unfortunately, our president stacked the deck.

The "deficit commission" appointed by our president has been stacked to destroy Social Security and Medicare. I have always supported him with money and volunteer time, but there is no doubt as to where he is going.

I am 59. Maybe I will retain some benefits. My daughter - 34 - won't. Why did you stack this commission against us, Mr. President?

[Vincardog]

6. Why did you stack this commission against us, Mr. President? Because that is what DLC faux centrist

Corporate owned democrats DO.

[RC]

7. But.., but..., but... Obama is a far Left Wing radical Liberal.

Fox and Rush and even the editorials in the local paper says so. I don't understand. :sarcasm:

[Monique1]

9. This stuff scares me

I'm almost 69 yrs old - if my SS is cut I don't know what I will do. Maybe buy a tent and rent a camping place for the rest of my life but that does not give me hope to live. Oh, I forgot, just die! I was going to place the sarcasm here but I can't

[Faygo Kid]

10. They claim that it won't affect anyone over 55. I don't believe it.

Obama appointed a stacked deck, every single one of them devoted to destroying Social Security.

I am 59. I hope that you and me can cling to Social Security despite what is coming.

[Alameda]

25. by saying your daughter won't, you have already given up.

[Lifelong Protester]

11. I hope everyone here is being as proactive on this as they can be.

I have called both of my senators (one is Kohl, who is the ranking member on the Special Committee on Aging, and against any messing with SS or Medicare), called my congressman, written to all three.

I joined MoveOn when they identified this as an issue (at least I have eSigned all the petitions) and belong to the Committee to Protect Social Security and Medicare.

I am 55, and have been paying in since I was 15. They better cut the war spending first, or they will have a war on their hands. The older baby boomers are and will be retiring at a high rate, with a lot of time on our hands to organize protests.

Anyone else feel like a good old fashioned sit-in?

[Recursion]

12. Bush gave your SS payments away in '01 and '03. Sorry.

Any scheme that doesn't involve cutting benefits would involve poor and regular people getting their money back from rich people. So I'm not optimistic.

[defendandprotect]

31. Democrats should be working on overturning Bush/Reagan tax cuts for rich . . .

and on overturning trade agreements -- and if these Democrats aren't working on

it -- then we need a new set of Democrats who will work on it!!

Time to end the corporate-DLC-New Dem-Democratic Party!!

[jtuck004]

13. Create some jobs. Don't hurt the most vulnerable. Is that so hard? n/t

[defendandprotect]

32. If it's anti-elite interests .. . then it's hard for corporate DLC/New Dem Democrats -- !!

[Pharaoh]

15. Because they stole it

and left us worthless IOU's

Bush even said so :beer:

[Statistical]

22. "worthless IOU's "

Treasury bonds are worthless IOUS.

Many someone should tell that to every insurance company, pension fund, and sovreign wealth fund in the world.

Maybe someone should let all those T-bond holders that they bond they own is "worthless" despite the treasury never missing a single payment in the history of the United States.

[Pharaoh]

16. Better stop the wars

before they even think about touching SS

[Monique1]

17. Back to the phones tomorrow

I will be making many calls. I am so happy for Credo phones, they don't charge me for making calls to the Congress and the Senate. They may be on vacation in Washington - I'll call their state phone.

I sent a message to Obama today and I will send him another.

[bluethruandthru]

23. +1

[SmileyRose]

18. They've been salivating about pulling the plug on grandma for at least 2 years.

asshats.

[lib2DaBone]

19. If Social Security is in such bad shape.....

..how come they are DYING to get their hands on it?

[defendandprotect]

33. Social Security runs HUGE SURPLUSSES ... always has . . .

and imagine had Bush succeeded in moving SS $$ to Wall Street!!

[lonestarnot]

24. K & Fucking R!

[sendero]

29. I think these idiots have forgotten about ..

.. the "third rail" of politics. And if they think they can hide behind the commission, they have another think coming.

[defendandprotect]

30. We need to target Steny Hoyer then . . . and anyone else pushing this stupidity ....