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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (75513)	6/4/2018 11:56:17 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 363834

" I read the article and it explained exactly how Greenspan and Reagan created a crises that was not real as a way to increase social security revenue which they could then borrow to cut taxes on the rich" The article is exactly wrong. I notice you forgot to include Tip O'Neill again. Bipartisan Reagan-O'Neill Social Security Deal in 1983 Showed It Can ... = "They needed the revenue" If they didn't borrow from SSTF, they would have borrowed a lot more from the Japanese. japan invests huge sums abroad, much of it in us treasury bonds nytimes.com. Mar 11, 1985 - = "Reagan also started putting stupid taxes on social security further devaluing its worth which so many depend on!" And just when I thought your idiocracy hit rock bottom. Taxes are on people who have sufficient income in addition to SS. Message 31599505 The money is returned to the SSTF, not the general fund. = "Here is the article again. Look at the title." The title is the stuff of conspiracy theories. You are so far off the deep end you'll need to go in a decompression chamber when you surface again to avoid getting the bends.

To: koan who wrote (75513)	6/5/2018 12:51:38 AM
From: Wharf Rat	1 Recommendation Recommended By i-node Read Replies (1) \| Respond to of 363834

From your article: "Social Security was definitely not “teetering on the edge of bankruptcy” in 1981 as Reagan claimed in his letter to Congressional leaders" From the '82 Trustee's report: This section summarizes the more important developments since the 1981 Annual Report was issued and describes the major features of this year's report. These topics are discussed in more detail in later sections. Financial status of the trust funds Without corrective legislation in the very near future, the Old-Age and Survivors Insurance Trust Fund will be unable to make benefit payments on time beginning no later than July 1983. Under present law, and on the basis of any reasonable set of economic assumptions, the expenditures of the OASI program will continue to exceed income from payroll taxes and other sources through at least 1986. To date, benefit payments have been made on a timely basis by drawing down the assets of the OASI Trust Fund to cover the shortfall. This, of course, is the fund's purpose: to act as a contingency reserve during temporary periods when outgo exceeds income. At this time, however, the assets of the OASI Trust Fund have been reduced to such a low level that they will not be able to continue making up the difference between outgo and income much longer. If assets are allowed to decline to the point where their amount at the end of a particular month is less than the benefit payments falling due on the third of the following month, inability to pay some benefits on time for that month would result. ssa.gov From '83 The Social Security Amendments of 1983 have restored the financial integrity of the Social Security cash benefit program for many years into the future. The program is now estimated to be adequately financed during this decade based on all four sets of actuarial assumptions used in the 1983 Trustees Report. On the basis of all but the most pessimistic of the four sets of assumptions used, the program is now estimated to be financially sound over the next 75 years. ssa.gov