The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: DebtBomb who wrote (25349)	12/9/2009 11:33:42 PM
From: Larry S.	9 Recommendations of 71456

More trash!! Of course the surplus SS revenues that were invested in special treasuries was spent by the Treasury, just as they spend the dollars received from the issuance of any bond or security. The Surplus is/was the result of the Reagan Administration following the 1983 advice of the Greenspan Commission (the recommended increases were completed under Bush Sr.). It was intended to create a surplus in the Trust Fund that would pay the expected shortfall in SS revenues resulting from the retirement of the Baby Boomers. The surplus funds were/are invested in special treasuries being the safest investment available. they provide a yield equal to the average of the 4- and greater-year treasury bond yields As they are redeemed, and the need for redemptions has started, we will borrow more from the public including foreign sources, e.g., China. The recession has reduced revenues significantly. The root of the problem is that Reagan failed to eliminate the Unified Budget which allowed the surplus revenues to be subtracted from (and hide) the deficits created by his income tax cuts (cuts that Goldwater, a real conservative, voted against). This allowed him to start us on the borrowed money binge that hasn't stopped yet. He also complains that we don't have as many paying payroll tax revenues per retiree as we had in the past and goes on the make projection that people like Walker aren't qualified to make. The fertility rate among those of European decent is probably less than 2 today but our increasing Latino population has a fertility rate of greater than 3. I don't know how well off the system will be by 2040 or so when the TF is expected to be empty but the last SS Trustee estimate that I have seen indicated that revenues would be close adequate. Perhaps eliminate the income limit on the payroll tax and take back some of the millions being stolen every day by the parasites on Wall Street. SS is not the problem. The root of the problem is in the fact that 40 percent of our corporate profits are now from the financials. In 1980 their contribution was less than 16 percent. Let’s start by reinstating Glass Steagall and regulating the derivatives. We could also help reduce waste by taking Health Care insurance away from the private companies. They spend 25 to 30 percent of their premium revenues on overhead and profit. Medicare Part B spends less than 4 percent. Amazing, isn’t it. Larry

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