The 3rd Rail - McConnell Touches It 3 Weeks Out


#21
  1. Congress cannot borrow money until it spends what it has collected in taxes.
  2. Congress therefore was able to use the taxes collected for Social Security that exceeded the current payouts on general spending, this masked a large portion of the deficit.
  3. The “trust fund” is nothing more than Congress promising that they will “repay” the SS dollars that were diverted in the flush years to meet the SS payouts when the lean years arrive.

We are now in those lean years, the payout burden is greater than the taxes being collected and the shortfall is being “repaid” with borrowed money.

All of this is just political and accounting rhetoric, SS is just a typical welfare program like all the others; the taxpayers of today fund it for the recipients of today and the same will be true until the current taxpayers revolt at the extreme cost.

Trumps kick-ass economy will likely ease the pressure for awhile but the rising interest rates are no longer hiding the cumulative effects of trillion dollar deficits; big changes will be coming soon for our entitlement structures.


#22

There is and there will be no political will to change them. They must collapse under their own weight, which will likely have disastrous consequences across the entire economic, social and political spectrum.


#23

For hopefully the LAST time…Social Security and Medicare are NOT ENTITLEMENTS and should NEVER be lumped in with the REAL entitlement programs like welfare, food stamps, etc.


#24

Lol, yeah, over coffee and a cigarette, where the public can’t hear the discussion, I suppose.


#25

The reason it’s a third rail.Reality is scary. Let’s not discuss it for fear of upsetting the voters.


#26

We know how it was sold to the nation, but naturally, the politicians couldn’t leave it alone. It started out a rather iffy proposition as a defined benefits program. Now more and more people claim Social Security benefits and barely contributed if ever. You can’t contribute $3,000 and receive $300,000 in benefits and call it anything but an entitlement. Even if the politicians never raided Social Security, it wouldn’t be solvent either. It was a very unrealistic plan from the start – and it keeps getting more unrealistic. Drug addiction as a disability. Give me a break.


#27

The thing about SS is that what one person receives without work, another must work for without recieving. At some point, the politicians have to renege on their promises and somebody gets … The short end of the stick, I’ll say. I don’t expect to ever see a single dime of social security money. I DO expect to see the payroll deduction for it increase.


#28

Yeah! Let’s elect more democrat-socialists to drive us over the cliff into the abyss. Maybe then the public will wake up in a police state with no guns and no free speech and no private property and do what? There will be rivers of blood.


#29

And so we give in to the other side and just become democrat-socialists ourselves, walking on eggshells afraid to speak the truth?!?! Isn’t this why people have been complaining about RINOs like McConnell forever? Isn’t this what made President Trump’s uncompromising rhetoric so popular and lifted him into office with so much adoration from Republicans in the first place?


#30

That’s what socialism does…


#31

Wait a minute . . .

Are you saying McConnell did the right thing?

I disagree. It’s a TIMING issue, not a SUBSTANCE issue.


#32

I don’t think honesty is a timing issue. Basically, if we think timing is an issue and that all we’ve got to do is get elected then we can do something about the thing we won’t talk about, we’re lying. I remember when Democrats running in my local state legislative districts were saying they’re pro-life – because abortion is pro-life. It helps improve quality of life and keep people from living in poverty, etc. It was a lie.

But I don’t believe Mitch McConnell or the Republicans will actually try to do anything about Social Security or Medicare, In that context, I could agree that it’s unwise to say so.