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View Diary: Hell, No! Social Security Contributes Nothing To Deficit (119 comments)

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  •  Better said (0+ / 0-)

    The total amount we are talking about , deficit or surplus, is gnat size. Even though we have a crap load of treasuries out there with coupons of 3-7%, we still have overwhelmed that debt in the last 4 years with almost zero interest coupon treasuries which is the only reason the over-all bill is down around 0.25% . Correct or incorrect?  I just can't get this granular otherwise. Sorry.

    We have much bigger problems than this to worry about. But our attention is being diverted to this which I think, rough political calculations are, the GOP will never take Obama up on cutting Social Security.

     I don't want to call it 11th dimensional chess. I want to call it gambling with the futures of a lot of people that can't afford living even a bare bones life now.

    The GOP is still very weak. Their political strategists may like the idea of cutting social security and saying they played a part in that, but then they do the numbers on the Baby Boomers who are retiring and those who have already retired and then it starts to look real bad near term.

    Obama doesn't really care because he's pretty much thrown in with the evil 1%.  So putting something as revered and needed like Social Security on the table probably gives him more of a rush than anything else. He seems like a high stakes gambler that has been awful lucky and we all know what happen when the bets get bigger and bigger. So naturally we are all concerned.

    Always with this crew, look someplace else because the real damage is never happening in front of us.  Right now I am looking at the sudden devaluation of the Yen, and that China just announced a trade deficit for March. The market is marching higher as is the Nisei which has gone up almost 10% in the last few weeks.

    Yet all the economic indicators of importance are on a downslope.

    There is a bad moon rising, but I can't pin it down just yet.

    “ Success has a great tendency to conceal and throw a veil over the evil of men. ” — Demosthenes

    by Dburn on Tue Apr 09, 2013 at 08:26:20 PM PDT

    [ Parent ]

    •  Average rate on existing treasuries (0+ / 0-)

      March 2013
      http://www.treasurydirect.gov/...

      You ask "correct or incorrect" as to 0.25%

      Those crazy guys at Treasury put it at 2.7%

      Or right in line with your "interesting" 3%. Now you may actually be talking 'real interest' rate, that is ex inflation, or you might be talking about effective rates given elevated prices for existing Treasuries in the bond markets and so there still may be a path towards "correct". But it is almost impossible to make that match up with the language in your opening paragraph whicH suggests that face yields on the portfolio have over the last four years trended down to 0.25% on average. Per the link this is off by 10X.

      I am willing to work with you here because we seem to be on the same sides of the economic justice barricades. But your deployment of numbers is making this hard. At the granular level you are asking for.

      SocSec dot.Defender at gmail.com - founder DK Social Security Defenders Group

      by Bruce Webb on Tue Apr 09, 2013 at 09:46:20 PM PDT

      [ Parent ]

      •  I looked again (1+ / 0-)
        Recommended by:
        Bruce Webb

        Decimal point problem. I looked at the consolidated debt and it comes to 2.5% ( estimated) instead of 0.25 as I Mistakenly said before.

        I also looked at the entire consolidated public and intragovernmental debt instead of just the public debt and the total amount of interest paid on it. I'm also using old numbers.

        My mistake

        “ Success has a great tendency to conceal and throw a veil over the evil of men. ” — Demosthenes

        by Dburn on Wed Apr 10, 2013 at 08:15:46 AM PDT

        [ Parent ]

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