| Forget about national healthcare! It's not going to | | | | The second is $92 billion, the overall Social |
| happen. We don't have the MONEY! In fact our | | | | Security surplus for fiscal 2010. Is social security |
| government doesn't have the money to do the | | | | too big to fail? |
| things it's been doing for quite some time now. | | | | News flash: it is NOW FAILING! |
| The reality of the Obama legacy for the history | | | | Social Security hasn't been cash-negative since |
| books is not going to be a good one; however, it | | | | the early 1980s, when it came so close to running |
| was all started by the Bush administration that | | | | out of money that it was making plans to stop |
| carried the label of compassionate conservatism | | | | sending out benefit checks. That led to the |
| which cloaked insane economics! | | | | famous Greenspan Commission report, which |
| America is bankrupt- too big to fail? Read the | | | | recommended trimming benefits and raising taxes, |
| Roman road and I'm not talking Biblically. | | | | which Congress did. Those actions produced hefty |
| While Obama and the Democrats are trying to | | | | cash surpluses, which until this year have helped |
| SPEND their way out of debt (who in the hell can | | | | finance the rest of the government. Those days |
| do that?) with a new budget that adds yet | | | | are now over. |
| another $1.8 TRILLION (and that number is wildly | | | | The US debt is on track to hit a congressionally |
| conservative if not downright not realistic), social | | | | proposed debt ceiling of 14.3 trillion dollars by the |
| security is BANKRUPT! Hello! Is anyone awake at | | | | end of February, the Treasury said Wednesday, a |
| the wheels of Federal government? A report | | | | day ahead of a key vote to raise it to that level. |
| from the Congressional Budget Office shows that | | | | "Based on current projections, Treasury expects |
| for the first time in 25 years, Social Security is | | | | to reach the debt ceiling as early as the end of |
| taking in less in taxes than it is spending on | | | | February. However, the government's cash flows |
| benefits. | | | | are volatile, making it difficult to forecast a precise |
| Instead of helping to finance the rest of the | | | | date," the Treasury said in a statement. |
| government, as it has done for decades, our | | | | And then these headlines today that Harrisburg, |
| nation's biggest social program needs help from | | | | the capital of Pennsylvania, will consider Chapter 9 |
| the Treasury to keep benefit checks from | | | | bankruptcy protection along with tax increases |
| bouncing -- in other words, a taxpayer bailout. | | | | and asset sales as options to address $68 million |
| What a fine mess you've got us in Ollie! | | | | in debt service payments due this year, the |
| No one has officially announced that Social | | | | chairwoman of a City Council committee said last |
| Security will be cash-negative this year. But you | | | | night. Could the whole world go bankrupt at the |
| can figure it out for yourself by comparing two | | | | same time? Is social security too big to fail? |
| numbers in the recent federal budget update that | | | | I say let's throw EVERYONE out of office this |
| the nonpartisan CBO issued last week. The first | | | | November that's not being realistic. If we do that, |
| number is $120 billion, the interest that Social | | | | does that meab that only Ron Paul will continue? |
| Security will earn on its trust fund in fiscal 2010. | | | | |