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View Diary: Conrad Working to Cut Social Security/Medicare and Could End up Torpedoing HCR (327 comments)

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  •  Perhaps if you would stop citing ... (12+ / 0-)

    ...Heritage Organization propaganda you might escape some of the barbs.

    Here's what the Center for Budget and Policy Priorities has to say about your claim:

    The Social Security actuaries project that in 2018, Social Security’s trust fund will hold $5.3 trillion in assets, in the form of U.S. Treasury bonds. Starting in that year, Social Security payroll tax collections will not be sufficient to cover the cost of all Social Security benefits, so the Social Security system will start to use a portion of the interest the trust fund earns on its bonds to cover the remaining benefit costs. The rest of the interest the trust fund earns will be reinvested in the trust fund. The actuaries project that as a result of these interest earnings, the trust fund’s assets will increase by another $1 trillion in the decade after 2018 and reach $6.6 trillion by 2028.

    [...]

    The Social Security Trustees, a group that includes Treasury Secretary Snow and other Cabinet officials, project that the Social Security trust fund will be able to pay full benefits until 2042. At that point, the trust fund will be exhausted — that is, all of its bonds will have been redeemed. The Congressional Budget Office projects the trust fund will be able to pay full benefits until 2052. [4]

    Don't tell me what you believe. Tell me what you do and I will tell you what you believe.

    by Meteor Blades on Thu Nov 12, 2009 at 11:16:21 AM PST

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    •  I said 2040 instead of 2042 (0+ / 0-)

      ok, and they have Medicare insolvent at 2017. I don't lie, chief.

      The central organizing principle of the U.S.A. is FREEDOM.

      by bourbonblue on Thu Nov 12, 2009 at 11:23:00 AM PST

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    •  I got to check out temporarily (0+ / 0-)

      but in fact if you can find somewhere I lied in this thread,

      I'll give a 100 dollars to your favorite cause.

      Whether it to be a fund for abortions or to save the polar bears or what ever else gets your blood flowing.

      The central organizing principle of the U.S.A. is FREEDOM.

      by bourbonblue on Thu Nov 12, 2009 at 11:28:16 AM PST

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      •  easily found lie (6+ / 0-)

        Social Security will start running deficits in 2018 and be forced to dip into the trust fund.

        That's a straight lie. Social Security does not run a deficit in 2018 according to the trustees.

        "At the end of the day, the public plan wins the game." Sen. Ben Nelson

        by ferg on Thu Nov 12, 2009 at 11:40:03 AM PST

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        •  CBO uses two different defintions (3+ / 0-)

          of 'surplus/deficit'. Under one of those 'primary surplus/primary deficit' the existence of the Trust Fund is essentially discounted to zero. So it is not a lie, not exactly.

          And neither is the claims about the varying dates, CBPP is using a different older Report year. Bourbonballs is not actually lying much, he is just spinning Heritage/Cato/Concord deceptive talking points.

          •  how is that even accounting? (2+ / 0-)
            Recommended by:
            RunawayRose, denise b

            The trust fund earns a huge amount in interest each year that gets added to the fund. It's in the budget. It's in the law. It doesn't matter if the CBO plays some semantic games, the Treasury applies that income to the proper accounts. Those semantic games don't change the accounting.

            You can't redefine "dip into the trust fund" to mean anything other than the trust fund decreases on a year-to-year basis.

            "At the end of the day, the public plan wins the game." Sen. Ben Nelson

            by ferg on Thu Nov 12, 2009 at 01:31:44 PM PST

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