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Govt. Discussing Looting Social Security - to Give to Banks for Bailout -

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posted on Feb, 19 2009 @ 09:39 AM
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Just to clarify, as others have stated, there is no trust fund for any of these programs. Social Security has been pitched as an investment for seniors to make for retirement, when in fact it is a transfer payment program, or, in essence, welfare for old people. The same thing is true of Medicare.




posted on Feb, 19 2009 @ 03:29 PM
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reply to post by St Udio
 





its a pay-as-you-go system, with whatever weekly SS tax withheld going into a General Revenues slush account & then paid out in benefit checks on the 3rd of each month...


The 3rd of the month? Where have you been? Your "facts" concerning social security are as wrong as your date of payment:


The Social Security checks are now deposited during the month. The date your check will be deposited in your account depends on your birth date. People who have birthdays from the 1st through the 10th of the month have their checks deposited the 2nd Wednesday of the month; those on the 11th through 20th are deposited on the 3rd Wednesday; and those on the 21st through the end of the end of the month are deposited on the 4th Wednesday of the month.


www.senioradvocatenews.com...



posted on Feb, 19 2009 @ 04:08 PM
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Originally posted by ProfEmeritus


The 3rd of the month? Where have you been?

Your "facts" concerning social security are as wrong as your date of payment:


The Social Security checks are now deposited during the month. The date your check will be deposited in your account depends on your birth date. People who have birthdays from the 1st through the 10th of the month have their checks deposited the 2nd Wednesday of the month; those on the 11th through 20th are deposited on the 3rd Wednesday; and those on the 21st through the end of the end of the month are deposited on the 4th Wednesday of the month.


www.senioradvocatenews.com...


Hmmmmmmm......
i've been getting disability checks (actually direct deposits) for a long time,

my birth date has no bearing on the date of deposit,


And now because of your attempted 'Trashing', i went & looked up the FACTS...
i get mine deposited because:


... For all Social Security beneficiaries receiving benefits prior to May 1997 or receiving both Social Security benefits and SSI payments
-->> 3rd of the month


see: www.socialsecurity.gov...

[edit on 19-2-2009 by St Udio]



posted on Feb, 19 2009 @ 05:03 PM
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Originally posted by redhatty
Talk about history repeating itself.

See my signature, and you will understand...


Exactly! They are looting!
Like the song says...No where to run baby, no where to hide!
Keep your eyes on the last bastion of hope...secret bank accounts abroad! What do you think Stanford Financial's fall is all about? SF uses offshore accounts. Watch what happens to all of those investors.
Just like Iceland had many secret investors keeping thier money there as it yielded high interest returns. Before Iceland collapsed, they had interest rates of around 18 percent. When things got shakey, investors pulled thier money out. Those who did not lost it.



posted on Feb, 23 2009 @ 06:04 PM
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Update:

link to article: firedoglake.com...

During the press update today, Helen Thomas asked about Social Security.


What people at the White House have told me on Social Security -- and what I wrote in the post she's referencing -- is that there's no intention to touch Social Security in the foreseeable future.

In Robert Gibbs' just concluded press conference, questions about Social Security reform were posed by five different reporters. Gibbs does not say that "there's no intention to touch Social Security in the foreseeable future." The full exchange is after the fold, but here he responds to Helen Thomas:

HELEN THOMAS: Why tinker with Social Security when it's solvent until 2040, there are other issues in front of us.

GIBBS: There are many issues in front of us, but we are not going to get ourselves onto a sustainable path of fiscal responsibility unless or until we address many of those issues. The president wants to...

HELEN: Why is it an issue?

GIBBS: I don't know the exact year, but there is an inflection point in the funding where the trust fund is, if we haven't already passed the line, we're soon to pass the line where what is going in and what is coming out no longer adds to that solvency of the trust fund and is no longer equal to each other. I think that...

HELEN: Some people just want to take from it. And there's great suffering going on now, so I don't see why you ought to...

GIBBS: Well Helen don't posit that what the President wants to do is institute great suffering. But understand that the way the program is structured, and although the solvency may go to 2040 or 2041, there I think is great concern that the number of people that are paying in, and the number of people -- what is paid in no longer equals what is is going out, therefore in order to get to some sustainable path to fiscal responsibility the President understands that some hard choices are going to be made. And he's going to...

HELEN: Raising taxes?

GIBBS: Well, the President talked about some specific ways to do that in the campaign. I think you can't have a discussion without people bringing a lot of ideas to the table to hash through.

If "there's no intention to touch Social Security in the foreseeable future," why doesn't Gibbs say it? Why is he saying that we're "not going to get ourselves onto a sustainable path of fiscal responsibility unless or until we address" it, and that "it's going to be hard to address a lot of our challenges without dealing with all of them at the same time"?



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