ObamaCare - Rainy Days Fund Being Hit Up
Tuesday, December 13, 2011 at 12:53PM
D.K. Dickey in Govt. Programs & Regulations, Obama Administration, ObamaCare, Social Security Issues, Socialist Programs, U.S. Budget Issues

ObamaCare’s $1 trillion health care law has tapped into the social security “lock box”. This money has been used as a "rainy day fund" by legislators for years in Washington DC, notably used by Clinton to balance the federal budget at the end of his administration. Liberals always boast how Clinton "balanced the budget", they just don't mention how he shifted the social security assets over to swag the budget figures and not reducing the debt. As it accumulated in value, it has been tempting to use it in spite of pending future social security obligations looming within the immediate future. The Washington insider joke is that ObamaCare was already underfunded, requiring 10 years of taxes to pay for 6 years of benefits. At this rate, it may be broke after 6 months - Not to worry, $500 Billion Social Security Funds to the Rescue!

A History Lesson about Social Security Borrowing: The Social Security surpluses of the last decades were siphoned off to the Treasury Department and spent like a "rainy day savings" from a "personal piggy bank". The Treasury then deposits corresponding IOUs — called “special issue” bonds or "intragovernmental bonds" — into the Social Security trust fund. These supposedly have "real value" since these bogus Treasury bonds are "backed by the full faith and credit of the U.S. government" in the same way that all other U.S. Treasury bonds are regarded. Oh, Really?

If these trust fund bonds represent anything real, why is it that in "calculating national indebtedness" they are not even included?  The debt/GDP ratio counts only publicly held debt. This means bonds held by China, Saudi Arabia, you and me. The debt ratio completely ignores the kind of "intragovernmental bonds" that are the equivalent of publicly held bonds.  Hmmn...?  And so, that's how Clinton balanced his books!

 

Run Time: 0:34

'ObamaCare Ends Medicare As We Know It'

 

These unedited comments are from the Utube Page blog below this video.  These will give you a taste of what the Obama critics are spewing out on the Internet.  This is just the start for this election cycle.  It's going to get real nasty.  What do you think about these intelligent remarks?

1.  "Ryan mentioned about $500 billion will be taken away from medicare to fund the obamacare and Dems call foul balls, but it's game, set, match!medicare under Democrat plan will be rationed. Is that true? 

No. What Ryan doesn't say is that although Medicare funding will be reduced, the benefits won't be. The bill includes provisions to reduce fraud and waste which is rampant in the system, and the savings there will more than offset the reduction in funding. The "rationing" is a flat-out lie. And, no I'm not a senior."  My comment: Reducing "fraud and waste" is not going to happen EVER!

2.  "Another Lying Pig Bastard from the GOP, These Fucks would not know the truth if Jesus Christ was face to face with them,these filthy Lying Rat Bastards, Paul Ryan you ain't shit PUNK!!!!"

3.  "Making people feel guilty about collecting benefits from a program they've paid into for years is not a smart strategy for winning elections, Ryan. Even Fox News viewers must be starting to get the picture as to how this will affect them."

4.  "The Republican plan ends the "Middle Class" as we know it. It will descend and merge with the "Lower Class"."

5.  "I Smoke a ton of crack and what Ryan says is true!"

6.  "Wow. They can’t even lie well anymore.  Sort of like how Republicans can’t even pretend to care about the middle-class in this country anymore.   VOTE DEMOCRAT 2012"

 

~  REMEMBER... 

VOTE 2012!  ~

Article originally appeared on My Oval Office (http://www.rovalocity.com/).
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