Overall Contents for All Blogs and Posts
http://unclesamenterstheendgamepart1.blogspot.com/
Most posts are alphabetized by subject starting at the bottom of each blog except for the first one. To get a feel of the overall intent of the blogs and posts please read the first post below.
Introduction and an Idea of how to navigate through the blogs and posts.
Contents for Sources of Funding for New World Order
From Soft to Hard Tyranny
Government Officials Speak out on Corruption and/or the New World Order Part 1
Government Officials Speak out on Corruption and/or the New World Order Part 2
Contents for Health Care Trends
Contents for Hidden Powers, Hidden Interests
Introduction
Links to Corruption, Tyranny and Trends Toward A New World Order Part 1
Links to Corruption, Tyranny and Trends Toward A New World Order Part 2
http://unclesamenterstheendgamepart2.blogspot.com/
Links to Corruption, Tyranny and Trends Toward A New World Order Part 3
National Debt
The above 3 posts Links to Corruption, Tyranny and Trends Toward a New World Order, Part 1, 2 and 3 contain just the links from all the posts with very little political commentary or analysis.
http://unclesamenterstheendgamepart3.blogspot.com/
News About the Fed, Banking and Finance Part 1
News About the Fed, Banking and Finance Part 2
Quotes Over Time About Monetary Policy and Banking and Finance in Relationship to Liberty and Tyranny
Slow Response/Gulf Oil Spill
Social Security and Other Entitlements
Solutions
Symbols of Occult Power
The Modern Art and Science of Enslaving Others
The Constitution Verses Tyranny
The Relationship Between The Military Industrial Media Complex, Defense Spending, Semi-permanent and Permanent War and the Rise of Tyranny
http://unclesamenterstheendgamepart4.blogspot.com/
Trends Toward a Tyrannical New World Order Part 1
Trends Toward a Tyrannical New World Order Part 2
Trends Toward a Tyrannical New World Order Part 3
The United Nations in Relationship to the New World Order Part 1
The United Nations in Relationship to the New World Order Part 2
http://unclesamenterstheendgamepart5.blogspot.com/
Barter and Local Currency Survey
Members, Activities and Meetings
http://unclesamenterstheendgamepart6.blogspot.com/
The War on Food
The War on Food Part 2 This section has a lot more in depth scientific studies.
In all the blogs the titles for each of the articles are colored coded red, orange, green or black based on my subjective belief of how likely they are to be true.
Red title and bold font means I believe the article is very likely to be true and is very important!
Red title and regular font means I believe the article is very likely to be true but is less important.
Orange title and bold font means the article is likely to be true and is important!
Orange title and regular font means the article is likely to be true but is less important.
Green title and bold font means I believe the article could be true and is very important!
Green title and regular font means I believe the article could be true but is less important.
Black title and bold font means I have no opinion on the article because I have not researched it so I have no opinion on its veracity. However it is important!
Black title and regular font means I have no opinion on the article because I have not researched it so I have no opinion on its veracity or truthfulness. It is of lesser importance.
Contents for Social Security and Other Entitlements
History of Social Security A Conservative View 2
Congressional Testimony Trying to Stop Looting of
Social Security and Remove it From the General Fund.
Also Spoke About Looting of Other Entitlement
Programs 5
Huge Government liabilities For Entitlement Programs, Rep. Paul
Ryan on NPR 6
The Looting of Social Security to Balance the Federal Budget
Congressional Debate Senator Hollings and Chairman Greenspan 6
Social Security The Necessity of Maintaining a Long Term Perspective 9
Looting of Social Security and Other Entitlement Programs Quotes from Hollings and other Senators in the 1998 Congressional Record 10
George W. Bush’s Quote on the Looting of Social Security 16 Government Liabilities Cost Every American $170,000 David Walker Comtroller of U.S. who is in His Own Words is the Public Trustee of Social Security and Medicare 17
Other Quotes About Social Security 20
Rep. Paul Ryan Ranking Republican member of House Budget Committee Has Ideas to Reduce Gov Liabilities 21
U.S. Government Considers Nationalizing and Controlling 401(K)/IRA Retirement Accounts to Gain Revenue Streams 24
Obama Health Care Bill More Expensive Than Expected 27 For more on Health Care see the File Health Care Trends!
20% of Men 25-54 Don’t Work; This Must Be Fixed 27
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Some Facts Concerning Social Security. I was sent this email 5/16/10 and responded with the following Email I sent to my contacts
The Pictures did not come through
This is interesting for your information.
Your Social Security
Just in case some of you young whippersnappers (& some older ones) didn't know this. It's easy to check out, if you don't believe it. Be sure and show it to your kids. They need a little history lesson on what's what and it doesn't matter whether you are Democrat or Republican. Facts are Facts!!!Social Security Cards up until the 1980s expressly stated the number and card were not to be used for identification purposes. Since nearly everyone in the United States now has a number, it became convenient to use it anyway and the message was removed.[9]
Just in case some of you young whippersnappers (& some older ones) didn't know this. It's easy to check out, if you don't believe it. Be sure and show it to your kids. They need a little history lesson on what's what and it doesn't matter whether you are Democrat or Republican. Facts are Facts!!!Social Security Cards up until the 1980s expressly stated the number and card were not to be used for identification purposes. Since nearly everyone in the United States now has a number, it became convenient to use it anyway and the message was removed.[9]
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An old Social Security card with the "NOT FOR IDENTIFICATION" message. Again I don't have picture. You can probably google Old Social Security Card.
Our Social Security
Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:
1.) That participation in the Program would be Completely voluntary, No longer Voluntary!
2.) That the participants would only have to pay 1% of the first $1,400 of their annual incomes into the Program, Now 7.65%
on the first $90,000
3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,
No longer tax deductible
4.) That the money the participants put into the independent 'Trust Fund' rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and,
Under Johnson the money was moved to
The General Fund and Spent
5.) That the annuity payments to the retirees would never be taxed as income.
Under Clinton & Gore Up to 85% of your Social Security can be Taxed
Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:
1.) That participation in the Program would be Completely voluntary, No longer Voluntary!
2.) That the participants would only have to pay 1% of the first $1,400 of their annual incomes into the Program, Now 7.65%
on the first $90,000
3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,
No longer tax deductible
4.) That the money the participants put into the independent 'Trust Fund' rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and,
Under Johnson the money was moved to
The General Fund and Spent
5.) That the annuity payments to the retirees would never be taxed as income.
Under Clinton & Gore Up to 85% of your Social Security can be Taxed
Since many of us have paid into FICA for years and are now receiving a Social Security check every month -- and then finding that we are getting taxed on 85% of the money we paid to the Federal government to 'put away' -- you may be interested in the following:
|
End of email sent 5/17/2010 If you click on the 9 link near the bottom of page 1, you will be taken to Wickipedia website for a more in depth discussion of social security along with a little history. Here is a website that take issue with some of the concepts described above. http://www.snopes.com/politics/socialsecurity/changes.asp
The above article is interesting.
- I know 1 is true.
- 4 I think is also true I read that Social Security use to be a independent trust fund that people put money into expecting to use it for retirement. Under Johnson it became part of the general fund for government spending. Now I have information from the Congressional record and one of George Bush the II, speeches where he forthrightly admits that each year what ever FICA money is sent to the Federal government is spent on retirees and extra money is spent on other Federal Programs so that you lucky Baby Boomers and the ones that come after you will not see any of that money that was suppose to be for your retirement..
- Does any one have information on the other points, 2, 3, and 5?
- I think people who want to let our government take control of our retirement funds or who don’t care, to put it nicely, need to have their heads examined!
- Here is a website that takes issue with some of the points mentioned above also. http://www.snopes.com/politics/socialsecurity/changes.asp
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The Federal Government wants to supervise health care. I am sorry to be judgmental about this but you are crazy if you let them do this if you consider the following facts.
- The entitlements funds have been looted in order to buy votes by Congressional members throughout the years.
- We pay Fica taxes for the Social Security Fund.. There is no social security fund!!! The money taken in every year is used to pay current retirees and extra is spent on other government programs. The fund is IOUs from the Treasury Department.
- Our government has over 74 trillion or more in unfunded liabilities in relation to social security, Medicaid and Medicare. Unfunded liabilities means the money the Federal Government owes us but at present they do not have the money to pay. They must either raise this money by raising taxes, burrowing from the Fed or raising the retirement age. We paid into the system in good faith but the money is not there!!!
Are you going to turn your health care over to the Federal Government considering the above facts? You don’t believe me? I take my data from Former President George W. Bush and statements from members from Congress and the Senate. See for yourselves!!! Here are some links to investigate.
The Looting of Social Security and Other Entitlement Programs
In the Congressional Record dated July 22, 1998 starting at page S8715 and ending at page S8734 Senator Hollings and others propose an amendment to protect Social Security Trust Funds from looting from Senators and Congress to pay for other government programs. There is agreement from various Senators that Social Security funds were looted to decrease government deficits for many years. Senator Hollings indicated that funds were also looted from Medicaid, Medicare and various retirement funds from the railroads, military and civilian government workers.
The date of this testimony was July 22, 1998. You can locate this link in the following way
Go to Congressional Record Main Page and click on Congressional Record Index After you get to record index and type in Social Security And Senator Hollings and Alan Greenspan and 1998 you will be taken to a website click on the first document called APPROPRIATIONS related term(s) Budget--U.S. Social Security:
Scroll a little more than ¾ down the page to Social Security: budget treatment of trust funds, S8710 [22JY] Click on S8710 and it will take you to relevant record that goes until page S8734 in the Congressional Record.
http://frwebgate.access.gpo.gov/cgi-bin/getpage.cgi?dbname=1998_record&page=S8710&position=all
According to Government Accountability Office and Representative Paul Ryan, Ranking Republican of House Budget Committee we in 2007 had between 50 – 53 trillion of government liabilities or 440,000 per U.S household.
Additional Transparency and Controls Are Needed, Government Accountability Office page 12 Wednesday July 25, 2007 Note that the Comptroller General of the United States in his own words, is the public trustee for Social Security and Medicare.
To obtain this report, google Government Accountability Office and Representative Paul Ryan and 53 trillion short fall to cover entitlement programs Go to the 3rd listing which is titled PDF GAO-07-11-1144T Long Term Fiscal Challenge Additional Transparency or go to www.gao.gov/cgi-bin/getrpt?GAO-07-1144T
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March 14th, 2010 NPR All Things Considered, Representative Paul Ryan the Ranking member of the House Budget Committee states that our entitlement Programs have 74 trillion dollars of unfunded mandates. At NPR website put Representative Paul Ryan in the search then in the new window click on, A Republican Plan to Save the Safety Net or cut and paste http://www.npr.org/templates/transcript/transcript.php?storyId=124637181
This I think I got of infowars.com but I don’t remember. I tried to look it up in the Congressional Record but I could not find it. I am not sure how find information I need in the record.
Quotes on the Social Security Trust Fund and other Government Entitlement Programs.
THE LOOTING OF SOCIAL SECURITY TO BALANCE THE FEDERAL BUDGET (updated)
FEDERAL "BORROWING" OF SOCIAL SECURITY FUNDS
The following excerpt is from the 1998 Senate Budget Committee session. Note the underlined portions.
BEGIN EXCERPT
U.S. FEDERAL RESERVE BOARD CHAIRMAN ALAN GREENSPAN: .....making sure that surplus is there.
U.S. SENATOR ERNEST F. HOLLINGS (D-SC): Yeah, making sure that surplus is there. I'm telling you, Dr. Greenspan, that's music to my ears.
GREENSPAN: Well, I remember you taking this song a long way over recent years, and I must say, Senator, a number of us were skeptical that was even discussable, figuring we would never get to unified surplus that we said which you were preaching was very interesting, scientifically sound, but unrealistic. I apologize.
HOLLINGS: Well that's all right, because your Greenspan Commission report in section 21 says just exactly what you're saying here. That was in 1983; here now, in 1999, on page two, "simply put, enough resources must be set aside over a lifetime of work to fund retirement consumption." Now that section 21 said set it aside. President Bush, in section 13 3 01 on November the 5th, 1990 signed that into law. And we making headway. Let's understand, though, that we're still running deficits. 'Cause I'm
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not going along with this monkeyshine about unified. 'Cause unified is not net, the debt still goes up, is that correct?
GREENSPAN: If you're...it depends on whether or not you wish to create the savings...
HOLLINGS: I'm not asking what you're trying to create. The simple fact is the debt has been going up at least $100 billion for the last several years.
GREENSPAN: Outside, on budget, that is correct.
HOLLINGS: That's right, on budget, you're spending a hundred billion more than you're taking in.
GREENSPAN: Correct.
HOLLINGS: And this president's budget spends another hundred billion more than we take in.
GREENSPAN: I haven't seen it yet.
HOLLINGS: You haven't seen it? You're testifying about it now.
GREENSPAN: I haven't seen the budget. You haven't seen it either.
HOLLINGS: Well, you know his plan. Look you think he's going to spend less than a hundred billion more?
GREENSPAN: I will wait to see what the numbers look like.
HOLLINGS: Well, the truth is...ah, shoot, well, we all know there's Washington's math problem. Alan Sloan in this past week's Newsweek says he spends 150%. What we've been doing, Mr. Chairman, in all reality, is taken a hundred billion out of the Social Security Trust Fund, transferring it over to the spending column, and spending it. Our friends to the left here are getting their tax cuts, we getting our spending increases, and hollering surplus, surplus, and balanced budget, and balanced budget plans when we continue to spend a hundred billion more than we take in.
That's the reality, and I think that you and I, working the same side of the street now, can have a little bit of success by bringing to everybody's attention this is all intended surplus. In other words, when we passed the Greenspan Commission Report, the Greenspan Commission Report only had Social Security in 1983 a two hundred million surplus. It's projected to have this year a 117 million surplus. I've got the schedule, I'll ask to put in the record the CBO report: 117, 126, 130, 100, going right through to 2008 over the ten year period of 186 billion surplus. That was intended; this is dramatic about all these retirees, the baby boomers. But we foresaw that baby boomer problem, we planned against that baby boomer problem. Our problem is we've been spending that particular reserve, that set-aside that you testify to that is so necessary. That's what I'm trying to get this government back to reality, if we can do that.
We owe Social Security 736 billion right this minute. If we saved 117 billion, we could pay that debt down, and have the wonderful effect on the capital markets and savings rate. Isn't that correct? Thank you very much, Sir. Thank you, Mr. Chairman.
END EXCERPT
It should be obvious from the above that the government has for decades been taking the money intended to pay Social Security benefits and spending it as general revenue. The Social Security trust
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fund is filled with Government IOUs, and those people who insists Social Security is solvent are operating in the faith that T-bills are always good, because the taxpayer can always be forced to redeem them.
But there is a problem. There are so many T-bills in the Social Security fund that when the baby-boomers start applying for benefits, the sudden surge of T-bills being presented for payment would collapse the Federal System, because there are not enough young taxpayers to carry the extra load.
Regardless of the mechanism, the bottom line is that the government looted the retirement funds of Americans, and that means one of two things has to happen (and maybe even both). Either Americans will be taxed twice for the same benefits, or the benefits will be cut.
Google the following: Social Security and the Federal Budget: The Necessity of Maintaining a Comprehensive Long Range Perspective. This will take you to websites containing a Congressional Budget Office report concurring with the view that there is very little money in the social security trust fund and Social Security soon will be in the red. This agency also known as the CBO is a bi-partisan agency whose analysis of Congressional Budgets is highly respected by members of both parties.
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Newspaper clippings of articles about Social Security did not come through from my files
Social Security and the Federal Budget: The Necessity of Maintaining a Comprehensive Long-Range Perspective
Return to top of What Really Happened
Google, The Looting of Social Security to balance the Federal Budget (Updated) or go to whatreallyhappened.com/WRHARTICLES/ARTICLES2budget.html
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The following are quotes from some of the debate with Senator Hollings and others to propose a amendment to protect Social Security Trust Funds from looting from Senators and Congress to pay for other government programs starting at page S8715 and ending at page S8734 for July 22, 1998. My focus is to show there is agreement from various Senators that Social Security funds were looted to decrease government deficits for many years. Toward the end of the debate Senator Hollings indicated that funds were also looted from Medicaid, Medicare and various retirement funds from the railroads, military and civilian government workers.
Quotes from the Congressional Record
That is why I, the Senator from Wisconsin, and other Senators here wanted to be heard on this. Because what is really occurring is, everybody is dealing out the Social Security trust fund to various programs in an illegal fashion—certainly in an immoral fashion. They are running around telling everybody, you can count on Social Security, except for the baby boomers. It is not the baby boomers in the next generation, it is the Members of Congress on the Senate floor and on the floor of the House. We, willy-nilly, are savaging, ravaging, looting Social Security. And there is not any question that the law disallows this… This quote is from Senator Ernest Hollings Former Chairman of the Budget Committee on page S8716 of the CONGRESSIONAL RECORD—SENATE July 22, 1998.
Now, in 1998, it has become the game of the day: Just look over and find whatever you want in the $100-some billion Social Security surplus, and it grows each year. It is only $105 billion this year; 10 years out, it is $186 billion. So we have plenty of money to spend for plenty of programs until we run right up against the wall, run right up against the wall, and the interest costs eat us alive. We have fiscal cancer. We won’t acknowledge it. This quote is from Senator Ernest Hollings Former Chairman of the Budget Committee on page S8720 of the CONGRESSIONAL RECORD—SENATE July 22, 1998
They are all talking about surpluses as far as the eye can see. Mr. President, the surpluses as far as the eye can see are the Social Security surpluses. These are the moneys that belong, under the law—Greenspan said put it off budget.
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We put it off budget. We continue to spend the money. I keep raising the points of order, and they just ignore it and go on.
Right now the word is, ‘‘Wait a minute. If we vote for this, you can’t get your tax cuts.’’ Well, come, you can’t get your tax cuts, because the only way you can get your tax cuts is to loot the moneys out of Social Security. That is how you get tax cuts. That is how you get all of these programs that increase spending. In order to do it, they want to use $105 billion of Social Security in 1998. In order to get the tax cuts, how do they justify that list the distinguished speaker put out? He had capital gains, he had estate tax elimination, he had the marriage penalty, he had tuition tax credits for private education—he just got it all in and said, ‘‘Just watch
them vote against that, and we’ll go after them and say, ‘Tax-and-spend, tax-and-spend, tax-and-spend.’ ’’ The truth of the matter is, he is the one increasing
taxes, because as you do this, as you loot the Social Security fund, the debt increases, as we see by the CBO record; and as the debt increases, spending for interest goes up. It cannot be avoided. It is going to be spent. That is exactly what is going on. It is fiscal cancer. This quote is from Senator Ernest Hollings former chairman of the budget committee on page S8718 of the CONGRESSIONAL RECORD—SENATE July 22, 1998
Let me emphasize, in 1994 we were really distraught with respect to the takeover artists. Individuals were coming in, the corporations, and literally taking the pension funds, paying off the corporate debt, and taking the remaining money and running. The employees were left high and dry. So we passed the Pension Reform Act of 1994. Now, our good friend, the former pitcher up there from Detroit, Denny
McLain, became the head of a corporation. As the head of the corporation, last year he had paid off the company debt with the pension fund. That was made a felony. He got an 8-year jail term. If you can find what jail he is in, tell him, next time, instead of running a corporation, run for the U.S. Senate; instead of a jail term, you get the good government award up here for looting the pension funds to pay your debt. That is exactly what we are doing. We go against the formal law that we
passed ourselves. We go against the policy set for corporate America. But when it comes to us, we have to get reelected. The worst campaign finance violation and abuse is using Social Security trust funds to reelect ourselves, telling them we are trying to protect Social Security. This quote is from Senator Ernest Hollings former chairman of the budget committee on page S8720 of the CONGRESSIONAL RECORD—SENATE July 22, 1998
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Mr. President, this ought not to be a controversial amendment. The question is, simply, Is there an opportunity for someone to say, either in the Senate or the House of Representatives, that they are going to provide hundreds of billions of dollars, or a trillion dollars, of tax cuts under the current fiscal policy? Is there an opportunity to do that without using the Social Security trust funds? I can’t see that that opportunity exists. While I would like to see some additional tax cuts, I happen to think that saving Social Security first and reducing the Federal debt would be much more meritorious for the future of this country. In any event, we ought not to be
talking about tax cuts before there is money to give them. That money available
for tax cuts does not include—I ask the Senator—and that money should never include, the Social Security trust fund money; am I correct? Quoted from Senator Dorgan from North Dakota on page S8720 of the CONGRESSIONAL RECORD—SENATE July 22, 1998
…I could not agree more with the Senator from South Carolina and also the Senator from North Dakota that there really isn’t anything more important than stopping this practice of using Social Security dollars for things they are not supposed to be used for, including premature tax cuts. That is the central budgeting issue in this country…
…For 30 years, Presidents of both parties, and Congresses controlled by both parties, have included the Social Security trust fund balances in their budget calculations. As I had a chance to mention during the debate over the budget resolution itself, the result is a false picture of our country’s fiscal health. And just like a false medical report that covers up a serious illness, it can lead to major problems in the future.
This false budget picture has been used so often that, in effect, it has almost become a ‘‘budget convention.’’ It has so impressed itself into the vocabulary of the budget that we now hear this word ‘‘surplus’’ over and over again when there is no surplus. We hear people talking about a budget ‘‘surplus’’ in Congress, we see it in the
newspapers, and we are even seeing it in letters from constituents who are, in effect, being misinformed into thinking that there is somehow a surplus at this
time...
Quoted from Senator Russ Feingold from Wisconsin on pages S8720 and S8721 of the CONGRESSIONAL RECORD—SENATE July 22, 1998
Keep in mind that a majority of American workers have no pension coverage
other than Social Security; that is it. Nearly a third of all seniors get 90
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percent or more of their income from the program. Without Social Security, more than half of the elderly would live in poverty. It is absolutely critical that we
maintain this safety net for future generations.
Yet, Social Security’s long term viability is now threatened by the impending retirement of the baby boomers. Unless we act, the trust fund will become insolvent in the year 2032. Do we want to say to people who have already worked a dozen years of their life, on average, that you can start to envision life in your later years without the help that comes from Social Security? We can’t let that happen. Quoted from Senator Lautenberg from New Jersey on page S8725 of the CONGRESSIONAL RECORD—SENATE July 22, 1998
…I recall that many Senators said, ‘‘We will never see the day that we have real surpluses.’’ What was being said was, ‘‘Social Security moneys are being used to pay for our bills. We will never reach the day when we have surpluses without using Social Security at all that are real.’’ And for this discussion, I will call them ‘‘operating surpluses.’’ ‘‘Never will we see the day.’’ Well, if CBO is right, Madam President, we have seen the day, as a matter of fact, in the sixth year of this 10-year
projection… Quoted from Senator Domenici. from New Mexico on page S8725 of the CONGRESSIONAL RECORD—SENATE July 22, 1998
Then I go to the real point with respect to surpluses, as if there were plenty of them around. There are not. I ask unanimous consent to have printed in the RECORD the trust funds looted to balance the budget. There being no objection, the material
was ordered to be printed in the RECORD, as follows:
TRUST FUNDS LOOTED TO BALANCE BUDGET
[By fiscal year, in billions of dollars]
1997 1998 2002
Social Security ........................................................ 631 732 1,236
Medicare:
HI ........................................................................ 117 113 109
SMI ...................................................................... 34 34 51
Military Retirement ................................................. 126 133 163
Civilian Retirement ................................................. 431 460 584
Unemployment ......................................................... 62 72 98
Highway ................................................................... 22 23 56
Airport ..................................................................... 7 10 30
Railroad Retirement ................................................ 19 20 23
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Other ....................................................................... 53 55 68
Total ........................................................... 1,502 1,652 2,418
Now, we find out with this, Social Security is only one half of the problem. The truth of the matter is that this year we will owe— these are CBO figures—$732 billion. We will owe Medicare, $113 billion; and the hospital and SMI, $34 billion; military retirement, $133 billion; a deficit in civilian retirement of $460 billion; a deficit in the unemployment compensation of $72 billion; a deficit in the highway trust fund of $23 billion; a deficit in the airport trust fund of $10 billion; a deficit in the railroad retirement trust fund of $20 billion; and others, like Federal Financing Bank of $55 billion I only limited it to 1 year, trying to get their attention to what is going on this particular year. We can extend it out. There is no difference there. But don’t go along with this continued fraud. Don’t go along with this continued trickery. There is $1.652 trillion overall. Social Security is less than
half; almost $1 trillion from the military retirement and civilian retirees and unemployment fund. So the Government, us politicians, have been running around and gabbing about everyone. I thought I could get the seniors to pay attention to Social Security, but they are only paying attention to Medicare and Medicaid. I have been trying my best to get them in that particular movement. The military retirees don’t understand it, and civilian retirees don’t understand it at all. So what is really wrong is not only that CBO has estimated the unified budget surplus will reach nearly $1.5 trillion when there is no surplus, they act like they are trying to give dignity and credibility to unified budgets. There is no surplus… This is a cancer… It is $1 billion a day we are increasing spending on the interest costs on the national debt. This quote is from Senator Ernest Hollings former chairman of the budget committee on pages S8727 and S8728 of the CONGRESSIONAL RECORD—SENATE July 22, 1998
You will come to a website called Social Security and the Unified Budget Greenspan Commission. It starts on page S8715 and continues to page S8734. The date of this testimony was July 22, 1998.
An alternative way after you get to record index and type in Social Security And Senator Hollings and Alan Greenspan and 1998 you will be taken to a place called APPROPRIATIONS related term(s) Budget--U.S. Social Security:
Scroll a little more than ¾ down the page to Social Security: budget treatment of trust funds, S8710 [22JY] Click on S8710 and it will take you to relevant record that goes until page S8734 in the Congressional Record. Here is the link where I found the quotes in the Congressional Record. http://frwebgate.access.gpo.gov/cgi-bin/getpage.cgi?dbname=1998_record&page=S8710&position=all
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The Congressional record talks about how social security became part of the unified budget thus surplus funds Social Security gained through payroll FICA taxes did not go directly into Social Security fund to later pay for retirees but instead were used to fund other government programs. In 1983 Congress recognized that Social Security was in danger so payroll taxes were raised and the retirement age for social security was increased to 62 to increase funds to cover retirement of the baby boomers which would begin around 2010. Greenspan and others during the Reagan administration developed this plan. Testimony shows that despite the dramatic increases of funds Congress and Presidents after Lyndon Johnson looted the trust fund so it will go in the red shortly and not provide for the needs of baby boomers. In addition, this record claims that Congress also severely looted Medicaid, Medicare and military retirement funds of billions and billions of funds. Senators also indicated in the record that persons in private industry that use worker’s retirement funds to pay off company debt would be charged with fraud and jailed but such activities occurred routinely in the case of Congress violating laws against such practices that they passed.
However, the following website disagrees with some of what I said above. http://www.snopes.com/politics/socialsecurity/changes.asp They claim the trust fund never was set up to be an independent source of money to be used to pay social security. It does pay for retirees but if I understand them correctly the government was always allowed to dip into surpluses to cover for government programs. The government then issued treasury bonds to the social security agency that will be paid off over time. The question is will they be able to repay what they have borrowed from the fund? I do not know but the perception that I and many other people was that we pay social security taxes into a trust fund that helps cover retirees now and will help fund us when we retire is not correct.
In the Congressional Record dated July 22, 1998 starting at page S8715 and ending at page S8734 Senator Hollings and others propose an amendment to protect Social Security Trust Funds from looting from Senators and Congress to pay for other government programs. There is agreement from various Senators that Social Security funds were looted to decrease government deficits for many years. Senator Hollings indicated that funds were also looted from Medicaid, Medicare and various retirement funds from the railroads, military and civilian government workers.
To get to the Congressional record google Congressional Record Main Page Go to Congressional Record index and select volume for 1998 then type in Social Security and Senator Hollings and Alan Greenspan and 1998. You will come to a website called Social Security and the Unified Budget Greenspan Commission. It starts on page S8715 and continues to page S8734. The date of this testimony was July 22, 1998.
An alternative way after you get to record index and type in Social Security And Senator Hollings and Alan Greenspan and 1998 you will be taken to a place called APPROPRIATIONS related term(s) Budget--U.S. Social Security:
Scroll a little more than ¾ down the page to Social Security: budget treatment of trust funds, S8710 [22JY] Click on S8710 and it will take you to relevant record that goes until page S8734 in the Congressional Record.
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This is an amazing quote from the former President George W. Bush!
“…Now, one of the myths about Social Security is there's a pile of money sitting there accumulating, because you put money in, the government saves it for you, and then when you retire you get it out. That's not the way the system works. Every dime that goes in from payroll taxes is spent. It's spent on retirees, and if there's excess, it's spent on government programs. The only thing that Social Security has is a pile of IOUs from one part of government to the next. This is a pay-as-you-go system”… President George W. Bush, Presidential Conversation on Social Security, Blue Bell Pennsylvania, February 10, 2005
Google George W. Bush, Presidential Conversation on Social Security or go to Go to www.presidentialrhetoric.com/speeches Then click on image of George W. Bush on the top right side and click on it. It also says on this tab Speeches from the Bush Presidency. This takes you to another link. Under the picture click on Speeches from George W. Bush’s Second Term. Then find the tab in the second column on the right that says February 10, 2005 Presidential Conversation on Social Security Blue Bell Pennsylvania and click on that. This will take you to the link with his entire speech. Paragraph 22 has the quote explaining that the social security trust fund has already been spent. You can google the first couple sentences of the speech to get you to the speech or you can click on this website. http://www.presidentialrhetoric.com/speeches/02.10.05b.html
“…Certainly controlling discretionary spending is important, but—as everyone in this room knows even with the large costs associated with the “Global War on Terrorism” and Iraq—discretionary spending is not the part of the budget that drives the long-term fiscal imbalance. As figure 6 shows, mandatory programmatic spending—that is mandatory spending excluding interest—has grown from 27 percent of the federal budget in 1965—the year Medicare was created—to 42 percent in 1985 to 53 percent last year. Total mandatory spending including net interest—has grown from 34 percent in 1965 to 62 percent last year. Both the CBO baseline estimates and the President’s Budget proposal show this spending growing even further.”
3See 2 U.S.C. § 900(c)(7). Page 9
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David M. Walker Comptroller General of the United States LONG-TERM FISCAL CHALLENGE
Additional Transparency and Controls Are Needed, Government Accountability Office Wednesday July 25, 2007
Last year the U.S. government’s major reported liabilities, social insurance commitments, and other fiscal exposures continued to grow. They now total approximately $50 trillion—about four times the nation’s total output (GDP) in fiscal year 2006—up from about $20 trillion, or two times GDP in fiscal year 2000. Absent meaningful reforms, these amounts will continue to grow every second of every minute of every day due to continuing deficits, known demographic trends and compounding interest costs. While it is hard to make sense of what “trillions” means, one way to think of these numbers is that if we wanted to put aside today enough to cover these promises, it would take $170,000 for each and every American, including newborns, or approximately $440,000 per American household. Considering that median household income is about $46,000, the household burden is about 9.5 times median income. Quote from David M. Walker Comptroller General of the United States LONG-TERM FISCAL CHALLENGE
Additional Transparency and Controls Are Needed, Government Accountability Office page 12 Wednesday July 25, 2007 Note that the Comptroller General of the United States in his own words, is the public trustee for Social Security and Medicare.
To obtain this report, google Government Accountability Office and Representative Paul Ryan and 53 trillion short fall to cover entitlement programs Go to the 3rd listing which is titled PDF GAO-07-11-1144T Long Term Fiscal Challenge Additional Transparency or go to www.gao.gov/cgi-bin/getrpt?GAO-07-1144T
This incredible website takes you to a Government Accountability Office document which has several easy to comprehend graphs showing how the entitlement programs of Social Security, Medicare and Medicaid are gradually taking more and more of the Federal Budget over time and if not reformed will bankrupt the nation in the future. Another interesting graph shows how mandatory spending is increasing and discretionary spending is decreasing over time. It is so impressive, I will send you this file in a separate email!!!
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I am having a hard time finding any of the information below in the Congressional Record or other government sites. Perhaps someone can help me. However Rep. Paul Ryan’s claim that the government faces a $53 trillion shortfall to cover the promise benefits in its entitlement program is backed up pretty much by the document above. In that document they claim that the government has unfunded liabilities of about 50 trillion. It was published on July25, 2007. Rep. Ryan’s comments were published on August 8, 2008 so his claim of 53 trillion seems reasonable. Now we are well into 2011 when government spending has increased dramatically, so the amount of unfunded liability is likely much higher!
U.S. Headed for Bankruptcy says top budget committee Republican CNS News August 8, 2008
The ranking Republican on the House Budget Committee said the U.S. government is headed toward bankruptcy if it stays on its current fiscal course.
“We know that for a fact,” Rep. Paul Ryan (R-Wis.) told CNSNews.com in a video interview. “All the actuaries, all the objective scorekeepers of the federal government, are predicting this.”
To back up this claim, Ryan cited an estimate by the non-partisan Government Accountability Office that says the government faces a $53-trillion shortfall to cover the costs of promised benefits in its entitlement programs.
“They say we are $53 trillion short of fulfilling the promises the government is making to the American people, in today’s dollars,” said Ryan.
“Meaning that if we want to keep the promises of Medicare, Medicaid and Social Security, which are basically the three major entitlement programs, today we would have to set aside $53 trillion dollars and invest them at Treasury rates in order to do it,” he said.
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Ryan said that to deal with this situation the government must either reform the entitlement programs or eventually impose massive tax increases on American workers.
“For the last 40 years, the federal government has had to tax every dollar made in America at 18.3 cents on that dollar to pay the bills of the federal government,” said Ryan.
“By the time my three children – who are three, five and six years old—are my age, the federal government will have to tax 40 cents out of every dollar made in America just to pay the bills for the federal government at that time,” he said.
Ryan asked the Congressional Budget Office to determine what the tax rates would need to be to cover federal spending at that level.
“What they told me was really startling,” said Ryan. “They said that the current low rate, the 10-percent bracket for low-income Americans, would have to go up to 25 percent. The middle-income tax rate for middle-income Americans would have to go up to 66 percent, and the top rate, which is what small businesses pay, would have to go to 88 percent.
“Those would be the tax rates you would have to have if you wanted to tax your way out of this problem,” he said. “And if you did that, all experts conclude, you would literally crash the American economy.”
Ryan portrayed the long-term budget crisis he believes the country is now facing as a generational challenge.
“The legacy of this country has always been that each generation confronts the challenges before it so that the next generation is better off,” said Ryan. “In the past, we brought down the Iron Curtain and won the Cold War. We got through World War I. We got through World War II. We won the war on the Great Depression.
“The problem that we have right now—putting foreign policy aside and our fight with Islamic radicalism—is that we have an economic crisis, we have a fiscal crisis, and, that is, we will bankrupt this country, and the best century in America will be the last century,” he added.
“Unless we turn our fiscal situation around and pay off this debt, and change the way these programs work to a more sustainable path, the next generation will have inferior living standards,” said Ryan.
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Ryan and his Budget Committee staff have developed a comprehensive plan for reforming federal taxing-and-spending policies that they believe will restore long-term solvency to the federal government.
Entitled “A Roadmap for America’s Future: A Plan to Solve America’s Long-Term Fiscal and Economic Crisis,” the plan has been introduced as legislation (H.R. 6110) in the current Congress.
I found the following quotes on a website. I did not have time to find them in other government documents so I can not vouch for their veracity.
Other Quotes About Social Security
"...the most reprehensible fraud in this great jambalaya of frauds is the systematic and total ransacking of the Social Security trust fund...in the next century...the American people will wake up to the reality that those IOUs in the trust fund vault are a 21st century version of Confederate bank notes." --Senator Earnest Hollings (D-SC) Speech on Senate Floor, October 13, 1989
"...On that chart in emblazoned red letters is what has been taking place here, embezzlement. During the period of growth we have had during the past 10 years, the growth has been from from two sources. One, a large credit card with no limits on it, and, two, we have been stealing money from the Social Security recipients of this country."--Senator Harry Reid (D-NV) Speech on Senate Floor, October 9, 1990
There are no stocks or bonds or real estate in the trust fund. It has nothing of real value to draw down."--David Walker, Comptroller General of the U.S. Government Accountability Office (GAO) Speech in Washington, DC, January 21, 2005
"To make sure the retirement savings of America's seniors are not diverted in any other program, my budget protects all $2.6 trillion of the Social Security Surplus for Social Security, and for Social Security alone."--President George W. Bush, State of the Union address, February 27, 2001
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"There is no trust fund, just IOUs that I saw firsthand that future generations will pay--will pay for either in higher taxes, or reduced benefits, or cuts to other critical government programs."--President George W. Bush, Speech at West Virginia University at Parkersburg, April 5, 2005
March 14th, 2010 NPR All Things Considered Representative Paul Ryan the Ranking member of the House Budget Committee states that our entitlement Programs have 74 trillion dollars of unfunded mandates meaning the government does not have the $ to pay it obligations on these entitlements! At NPR website put Representative Paul Ryan in the search then in the new window click on, A Republican Plan to Save the Safety Net or cut and paste http://www.npr.org/templates/transcript/transcript.php?storyId=124637181
The following is the Transcript of NPR’s Interview With Congressman Paul Ryan on All Things Condisered
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Heard on All Things Considered
March 14, 2010 - GUY RAZ, host:
This is ALL THINGS CONSIDERED from NPR News. I'm Guy Raz.
This week, President Obama's health plan is expected to reach Congress for a final vote, and not a single Republican is expected to back the plan.
Now, Democrats accuse Republicans of simply trying to thwart the President's agenda without offering any serious alternatives. Here's Senate Democratic leader Harry Reid.
Senator HARRY REID (Democrat, Nevada): The party of no has shown no interest in sitting down with us at the negotiating table. The party of no has shown no interest in legislating.
RAZ: But if there's one Republican who Democrats can't accuse of having no ideas, it's Wisconsin Congressman Paul Ryan. And earlier this year, when the president met with congressional Republicans in Baltimore, he pointed to Paul Ryan's plan to tackle the growing costs of entitlement spending.
President BARACK OBAMA: I think Paul, for example, head of the Budget Committee, has looked at the budget and has made a serious proposal. I've read it. I can tell you what's in it. And there are some ideas in there that I would agree with, but there's some ideas that we should have a healthy debate about because I don't agree with.
RAZ: Paul Ryan is the ranking Republican on the House Budget Committee, and he's a rising star in his party. He's written a plan called "The Roadmap for America's Future," and in it, he outlines his proposals to reform Medicare, Social Security and taxes.
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Now, very few Republicans publicly back his plan. It's controversial, even a little radical. And when I sat down with Paul Ryan on Friday, he explained why he's taking on the third rail of American politics.
Representative PAUL RYAN (Republican, Wisconsin): I'm doing it because we don't have a choice. We have to deal with these entitlements because they're growing themselves into bankruptcy. Medicare goes bankrupt in seven years. And what I ask my colleagues in Congress, both Republicans and Democrats, is this: what if we knew about the last financial crisis - which happened in October 2008 - what if we knew about it well enough in advance to prevent it from happening, but we just chose not to do so because it just wasn't politically popular?
That's just not right. That's unconscionable in my mind. And so that is why I think the American people are ready to be talked to like adults and not like children. I think all the demagoguery that both parties have committed against each other has got to stop. Otherwise, we're going to wind up with our own version of a debt crisis.
RAZ: It's interesting because we've spoken to Congressman Henry Waxman about climate change and he makes a very, very similar argument. I mean, he says, imagine if we didn't do what we know we should be doing.
Rep. RYAN: Look, put the science of climate change aside and all of those things, no one disputes that we have a crisis coming with our entitlements. No one disputes we have a debt crisis coming in this country.
RAZ: We're in trouble.
Rep. RYAN: We're in trouble. The sooner you act to fix this problem, the better off everybody is going to be.
RAZ: If I understand your Social Security plan correctly, people currently under the age of 55 would be allowed to divert part of their Social Security taxes to a fund.
Rep. RYAN: Right.
RAZ: That would be managed and guaranteed.
Rep. RYAN: Right, by Social Security.
RAZ: By the federal government.
Rep. RYAN: Yes, so it's exactly what I have as a member of Congress...
RAZ: But how is that an improvement on the current system?
Rep. RYAN: It is giving people an option. First of all, if you're above 55, nothing changes. If you're under 55, you can choose to stay in the traditional program if you want to, or like you said, a third of your payroll taxes can go to a plan managed by Social Security exactly how my thrift-savings plan as a member of Congress is managed.
The reason why it's an improvement is it's a better deal for you. At my age I'm 40 I'm looking at about a one percent rate of return on my payroll taxes if Social Security could give me my benefit, which it can't. My three kids, who are five, six and eight, are looking at about a negative one percent rate of return on their Social Security taxes.
And when 80 percent of American pay more in payroll taxes than they do in income taxes, you would think we'd want to get a better rate of return for our money. So you can get better benefits if you do this, but more importantly, I'm simply saying to people: if you want it, you can have it. You don't even have to do this. It's an additional choice, an option to have a plan like I have a congressman for my retirement.
RAZ: But if you were to oppose, say for example, a government-run health plan, why would you support a government-run Social Security plan? Why not just privatize it?
Rep. RYAN: So I think it's important to have a safety net in this country, so that nobody's in poverty in old age, so that people who get sick get the care they need, but on top of that, you can't have a cradle-to-grave welfare kind of state that bankrupts of our government. You have to have a system of ownership on top of it that is sustainable and better for the individual.
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And so, I will disagree with some on the right that says we should have a complete laissez faire system, where it's everybody out for themselves. I do believe there is a social compact in this country that we have reached consensus on, which I agree with, which is that there should be a sturdy safety net in this nation to help those who cannot help themselves.
RAZ: I want to ask you about that consensus because in your plan, your "Roadmap for America's Future," you acknowledge that Social Security and Medicare are important parts...
Rep. RYAN: Very important.
RAZ: ...of retirement security.
Rep. RYAN: I agree with that.
RAZ: I'm wondering if those proposals were introduced today, honestly, do you think you would back them, or do you think most Republicans would back them?
Rep. RYAN: I would do them differently. I do think Republicans would support these kinds of things, and the reason I feel confident in saying that because I'm a Republican, and I'm working with other Republicans to do these kinds of things.
So I would clearly create these entitlements differently. You know why? Because these entitlements have a $76 trillion unfunded liability, $76 trillion in promises to the generations that we have here, my mom's generation, my generation, my kids' generation, that cannot be kept. So these programs have to be reformed if we're going to avoid bankruptcy.
RAZ: Congressman Ryan, you have been singled out by President Obama. Many Democrats have called you the only Republican with serious ideas, even though they acknowledge they disagree with them.
Rep. RYAN: Sure.
RAZ: But I'm more interested in asking you about your own party. Not one member of the Republican leadership has publicly endorsed your roadmap, and I'm wondering why you think that is.
Rep. RYAN: You know, it doesn't really matter me. I never...
RAZ: But don't you need their support to in order...
Rep. RYAN: Ultimately, but what I'm trying to do is get a debate going in this country to fix these problems. The way I look at this is both parties are ducking the responsibility for fixing these problems. They do so because they have political fear that the other side will lynch them in the next election.
I'm not trying to say that I, Paul Ryan, have all the answers, and here is the plan from on high. What I wanted to do is: here's how I would fix our fiscal situation, and I'm trying to get other people to come with their plans. So if I put a plan on the table, my hope was other Republicans and other Democrats come up with their plans, so we get down to the business of talking about how to solve this problem versus just pointing fingers and going faster and faster toward a bankrupt nation.
RAZ: Going back to this issue of President Obama, do you think that sort of getting a kind of let's just say a back-door endorsement from the president and from Democrats helps you or not?
Rep. RYAN: Well, it's obviously...
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RAZ: I mean, did you sort of feel like the teacher's pet in that room, when the president singled you out, or were you proud?
Rep. RYAN: It surprised me. It was I did not see that coming. I had my six-year-old in my lap, and I was just kind of enjoying this conversation, and it sort of just kind of came out nowhere. It brought with it a lot of attention, and then what I realized, it was two days after the president did that, I had all these attacks coming from the Democratic Congressional Campaign Committee, the Democratic National Committee...
RAZ: Well, they were looking for holes in your proposal.
Rep. RYAN: Well, you know, the day and a half after the budget director started attacking my plan, the day after that, they started launching political attacks.
Now, I don't think that that was necessarily the president's intention, but that was clearly what the political people in the Democratic Party chose to do. And, look, this is why people in Congress don't take risks.
I'm a big boy, I can handle it. It's fine with me. The problem is, it tells any other member of Congress: you better not stick your head above the foxhole with a new idea because you'll get shot by the other party. And my point is, if we don't tackle this problem soon, it's going to get us.
RAZ: Congressman Paul Ryan is the ranking Republican on the House Budget Committee and the author of a plan he calls "The Roadmap for America's Future." Paul Ryan, thank you so much.
Rep. RYAN: You bet, thanks for having me.
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40l(k)/IRA Nationalization Quietly Moves Forward
The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.
They want to "get people to invest their 401k's and IRA's into annuities, or likely into U.S. T-Bonds, which are in the biggest overvalued bubble the world has ever seen.
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They are doing this because they will have $2 Trillion Dollars in bonds to sell this year, and foreign buying is drying up. China doesn't want them.... Do you?
Who's behind it?
The White House and a powerful network of Congressional activists, and the highly-influential Ford and Rockefeller Foundations. They are engineering a new regulatory and tax-incentive. The purpose is to herd and ultimately force Americans to convert their 40l(k)s and IRAs into government-directed retirement accounts.
The 40l(k)/IRA de-privatization plan is the brain-child of Teresa Ghilarducci of the Schwartz Center for Economic Policy Analysis " "SCEPA", who is funded by the Rockefeller Foundation.
The extreme tactics used to ram Nationalized Health care down the country's throat are a blueprint for what could be the biggest asset grab in history.
This is exactly what took place in Argentina. Yes, Argentina was once a powerful nation; the 3rd wealthiest nation until the 20th Century.
Another reason as to why our government needs to nationalize retirement accounts...
Is reported by the New York Times, "This year, the system will pay out more in benefits than it receives in payroll taxes, this important threshold was not expected to cross until at least 2016, according to the Congressional Budget Office." The trickle of red ink will soon become a flood under the pressure of 78 million retiring Baby Boomers.... Less money going into the system!
Who will you need to Trust in the Handling of your money?
The March 9 edition of Business Week notes that new federal regulations designed to "promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams" would help drive cash into government-controlled entities such as American International Group (AIG), which was bailed out to the tune of $182.3 billion
Confiscation of 401K and other Retirement Accounts/ See also Neil Boortz/6/24
Federal Government Eying Using IRA’s to Help Pay Off Debt
Jerry Doyle did a segment on his radio talk show on September 2, 2010 discussing how Feds are eying individual retirement accounts to help pay National debt.
After squandering the Social Security Trust Fund I think people should think long and hard before entrusting their IRA’s and putting them in government hands. Consider what you have read above concerning Congressional Testimony about Looting of Social Security Trust Fund.
The Service Employee International Union, or SEIU, a key labor union ally of the Obama administration according to Jerome Corsi, has mounted an effort to create government-mandated worker retirement accounts as an entitlement program, with the possibility that a portion of all private retirement funds could be forced to pay U.S. Treasury debt. You don’t have an IRA? No problem. In bills being considered in the House and Senate they are contemplating making every employee pay 3% of your salary into government mandated IRAs. See the House Bill 6099 or Senate Bill 3760.
Check out this link from them. http://www.retirement-usa.org/the-principles/
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All these principles are beautiful tugging at my liberal heart strings but I don’t trust my government with my hard earned money!!! The Treasury Department and their colleagues at the Federal Reserve still have not told us what they did with trillions of dollars of tax payer bail out money so I guess I don’t want to trust them with my retirement funds. http://www.youtube.com/watch?v=rCWXrMCGJT4&feature=PlayList&p=586BECE487BB7E97&playnext=1&index=69
I could bring myself to buy treasury bonds if I had some kind of iron clad agreement that the government would never again rack up such monstrous debts. Otherwise meekly paying these debts is the height of lunacy!!
We’ve been here before. When President Roosevelt passed the Social Security Trust Fund the understanding was that we would pay into the system and when we retire we would get benefits. It was a separate pot of money and was to be used only to pay social security benefits for retirees. Under Johnson it became part of the general government budget and the surpluses were used to pay for other government programs. Now the surpluses are gone so maybe the Government is scrambling to get their hands on other sources of money to pay down their debt.
The Department of Labor and the Treasury Department are going to jointly conduct a meeting on September 14, and 15th to discuss setting up these incomes for life streams for us retirees. According to some sources they tried this same plan in Argentina. Retirees when they went to cash in got pennies on the dollar. Here is a link to the announcement. http://go2.wordpress.com/?id=725X1342&site=randysright.wordpress.com&url=http%3A%2F%2Fwww.dol.gov%2Febsa%2Fnewsroom%2F2010%2Febsa082610.html&sref=http%3A%2F%2Frandysright.wordpress.com%2F2010%2F08%2F29%2Fgovernment-wants-your-401k-hearings-set-on-plan-to-require-treasuries-in-automatic-ira%2F
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Obama Health Care Far More Expensive than Expected 5/12/10
Oops! Obamacare Will Cost $115 Billion More and Counting
by Connie Hair
05/12/2010
The non-partisan Congressional Budget Office (CBO) released a new estimate yesterday of the cost of Democrats’ government takeover of health care. The new estimate shows Obamacare will cost at least $115 billion more than first claimed.
The CBO continues to sort through the consequences of the Democrats' smoke and mirror accounting just as the White House launches its campaign to try to convince the public that Obamacare is not as bad as it really is.
“Before trying to ‘sell’ the new health care law, the Obama administration may want to be honest about how much it’s going to cost American taxpayers,” said House Republican Leader John Boehner (Ohio). “This new CBO analysis showing that the new health care law will cost at least $115 billion more than advertised provides ample cause for alarm. This comes just weeks after the Obama administration itself released an analysis confirming that the new law actually increases Americans’ health care costs.”
Late last month, in yet another blow to the Democrats’ credibility on health care (if there was any left), Obama’s own Centers for Medicare & Medicaid Services (CMS) released a report showing that the new law actually increases national health care costs after President Obama pledged it would not.
“The American people wanted one thing above all from health care reform: lower costs, which Washington Democrats promised, but they did not deliver,” Boehner added. “The American people don’t want soothing soundbites, they want the truth.”
The new estimate pushes the pricetag for Obamacare over the $1 trillion mark. And counting. This latest estimate still includes the half-trillion dollars in cuts to Medicare Democrats figured into the mix. It also represents only six years of spending supported by 10 years of new taxation.
Info set 5/17/2010 According to Congressional Representative Health Care Bill may put more stress on emergency rooms as did the near universal coverage that was tried in Mass
Richard Foster, Chief Actuary at the Centers for Medicare and Medicaid Services, told The Hill that the current dearth of primary care physicians could lead to greater stress on hospital emergency rooms. “The supply of doctors can’t be increased very quickly – there’s a time lag,” he said..
20% of Men 25-54 Don’t Work; This Must Be Fixed http://azstarnet.com/news/opinion/article_5057e1eb-9d77-5207-b8f9-c86268b767b7.html If this is true then it is disturbing. For years Americans were known for their manic energy and willingness to work. In 1954 about 96% of Americans this age worked. Now, according to David Brooks 10 years ago 5 million Americans collected Federal disability. Now 8.2 Americans do. Paying the disabled cost 115 billion a year or about $1,500 a year per household.
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