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Canuck57[_9_]

On 09/04/2011 12:11 PM, Boating All Out wrote:
In ,
says...

On Sat, 09 Apr 2011 00:05:04 -0700, wrote:

And their "deficit" is temporary. For example, the primary reason for
the SS deficit is low unemployment, and that will change in the next
year or so, then it's solvent for another 30 years.

You have not been paying attention have you. The projection was always
that SS would be upside down in 2017, then 16 then 15 and the later
projections were 2012-13.
Then the recession made that 2010 they HOPED they might get a year or
two of surplus but the Obama payroll tax cut torpedoed that. It will
never see a surplus again. Medicare has been upside down for quite a
while with no end in sight.

SS isn't a big problem if correctly understood and addressed.
But Obama isn't helping at all.
Very bad move reducing the SS tax.
SS has its own cost/revenue stream for accounting purposes.
As the treasuries are redeemed when outflow exceeds inflow, the
SS fund will be depleted faster.
I've seen it said that when the fund is entirely depleted, SS can
still pay 75% of current benefits on SS income alone.
But that probably was based on fuller employment than current, and
certainly won't hold true at Obama's reduced SS tax rate.
Last projection I saw for SS fund zero balance was 2037.
Obama's action has knocked years off that.
This is no different than the dishonesty of the GWB tax cuts/deficit
spending or Reagan's voodoo economics.

Where are the adults?
A more cynical way of looking at these matters is that politicians know
exactly what they are doing.
Reagan and GWB figured that the population at large would accept the
rich becoming richer and the poor poorer.
GWB figured that deep debt would lead to curtailing safety net programs
as a means to deal with it.
Obama figures that nothing can hurt SS because to hurt it would be
fostering rebellion against those who attempt it.

If that's true I think they were all correct in their "figuring."
The real problem is the 2-party system.
Doesn't work any more.
Too much time spent with schoolyard feuds, and little common sense.

Paul Ryan is a good example of no common sense.
Wants to kill Medicare and replace it with vouchers to pay insurance
companies for health insurance.
Now I ask you.
What insurance company wants to insure old people?
What's the premium for a 70 year old?
$50k a year with a $20k deductable?
Man, this guy is in for some hurting when his "plan" gets analyzed.
He's a real dope millionaire.
I've already heard some economists are saying his plan will add to the
deficit too. Written by "The Club for Growth" supposedly.
All this whining from Ryan and his millionaire ilk about debt being bad
for "the grandchildren", but maybe they don't worry about their
grandchildren paying $50k insurance premiums when they become old folks?
The nonsense and hypocrisy I see is hilarious.
Like I say, where are the adults?

People should look at CCP (Canada) and SS (USA) as employment tax. It
isn't in your name, it isn't in your account and certainly isn't in your
control.

Government uses this money in money/value loosing investments and has
been routinely raiding them for man decades. The result is the funds
are just derated to more government debt.

From a pension perspective, people better plan on in my name, in my
account under my exclusive control. The rest is horse sh!t. People in
Canada planning CPP as a life find out the hard way, it is poverty.

Best advice I can give younger people is more money in your pocket today
is worth more than a 10x BS future promise from government. The whole
pension thing is a huge fraud. Now that the debt welshers in DC have to
pay, they want to welsh. Screwing their own people for government
GREED. Priceless. Just wait until the fat mama saying Obama is going
to pay for here gas wakes up and smells the coffee. Governemtn will get
around to screwing everybody but the chosen elite.

Modern government and taxation has turned out to be modern day slavery.

Paul Ryan is common sense, but to be honest he does not have the support
of others that are greedy, scared and chicken sh!t to do the right
thing. Cowards. Greedy, envious selfish cowards as you know the
senators and congress people are getting back room calls on this.
Easier to sellout USA than to stand up for what is right.

Far too much corruption in DC.

Time to write them off as debt welshers. DC, just a parasite.

True North[_3_]

"Canuck57" wrote in message ...

On 09/04/2011 12:11 PM, Boating All Out wrote:
In ,
says...

On Sat, 09 Apr 2011 00:05:04 -0700, wrote:

And their "deficit" is temporary. For example, the primary reason for
the SS deficit is low unemployment, and that will change in the next
year or so, then it's solvent for another 30 years.

You have not been paying attention have you. The projection was always
that SS would be upside down in 2017, then 16 then 15 and the later
projections were 2012-13.
Then the recession made that 2010 they HOPED they might get a year or
two of surplus but the Obama payroll tax cut torpedoed that. It will
never see a surplus again. Medicare has been upside down for quite a
while with no end in sight.

SS isn't a big problem if correctly understood and addressed.
But Obama isn't helping at all.
Very bad move reducing the SS tax.
SS has its own cost/revenue stream for accounting purposes.
As the treasuries are redeemed when outflow exceeds inflow, the
SS fund will be depleted faster.
I've seen it said that when the fund is entirely depleted, SS can
still pay 75% of current benefits on SS income alone.
But that probably was based on fuller employment than current, and
certainly won't hold true at Obama's reduced SS tax rate.
Last projection I saw for SS fund zero balance was 2037.
Obama's action has knocked years off that.
This is no different than the dishonesty of the GWB tax cuts/deficit
spending or Reagan's voodoo economics.

Where are the adults?
A more cynical way of looking at these matters is that politicians know
exactly what they are doing.
Reagan and GWB figured that the population at large would accept the
rich becoming richer and the poor poorer.
GWB figured that deep debt would lead to curtailing safety net programs
as a means to deal with it.
Obama figures that nothing can hurt SS because to hurt it would be
fostering rebellion against those who attempt it.

If that's true I think they were all correct in their "figuring."
The real problem is the 2-party system.
Doesn't work any more.
Too much time spent with schoolyard feuds, and little common sense.

Paul Ryan is a good example of no common sense.
Wants to kill Medicare and replace it with vouchers to pay insurance
companies for health insurance.
Now I ask you.
What insurance company wants to insure old people?
What's the premium for a 70 year old?
$50k a year with a $20k deductable?
Man, this guy is in for some hurting when his "plan" gets analyzed.
He's a real dope millionaire.
I've already heard some economists are saying his plan will add to the
deficit too. Written by "The Club for Growth" supposedly.
All this whining from Ryan and his millionaire ilk about debt being bad
for "the grandchildren", but maybe they don't worry about their
grandchildren paying $50k insurance premiums when they become old folks?
The nonsense and hypocrisy I see is hilarious.
Like I say, where are the adults?

People should look at CCP (Canada) and SS (USA) as employment tax. It
isn't in your name, it isn't in your account and certainly isn't in your
control.

Government uses this money in money/value loosing investments and has
been routinely raiding them for man decades. The result is the funds
are just derated to more government debt.

From a pension perspective, people better plan on in my name, in my
account under my exclusive control. The rest is horse sh!t. People in
Canada planning CPP as a life find out the hard way, it is poverty.

Best advice I can give younger people is more money in your pocket today
is worth more than a 10x BS future promise from government. The whole
pension thing is a huge fraud. Now that the debt welshers in DC have to
pay, they want to welsh. Screwing their own people for government
GREED. Priceless. Just wait until the fat mama saying Obama is going
to pay for here gas wakes up and smells the coffee. Governemtn will get
around to screwing everybody but the chosen elite.

Modern government and taxation has turned out to be modern day slavery.

Paul Ryan is common sense, but to be honest he does not have the support
of others that are greedy, scared and chicken sh!t to do the right
thing. Cowards. Greedy, envious selfish cowards as you know the
senators and congress people are getting back room calls on this.
Easier to sellout USA than to stand up for what is right.

Far too much corruption in DC.

Time to write them off as debt welshers. DC, just a parasite.

***********

Our Canada Pension Plan in only meant to supplement your own savings/a
company pension plan and the Old Age pension.
If you rely on that and your Old Age Pension as your sole means of income
after 65... you'll be no better off than those who didn't work a day or pay
a penny into any plans because they will receive the Guaranteed Income
Supplement to add to their OAP.

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