« previous   misc   next »

75 Economic Numbers From 2012 that are Almo


By woopee   Follow   Sun, 23 Dec 2012, 7:42pm PST   828 views   12 comments
Watch (1)   Share   Quote   Permalink   Like (2)   Dislike  

"By The Economic Collapse Blog

December 22, 2012 "Economic Collapse Blog" -- What a year 2012 has been! The mainstream media continues to tell us what a “great job” the Obama administration and the Federal Reserve are doing of managing the economy, but meanwhile things just continue to get even worse for the poor and the middle class. It is imperative that we educate the American people about the true condition of our economy and about why all of this is happening. "

http://www.informationclearinghouse.info/article33415.htm

Comments 1-12 of 12     Last »

woopee   Mon, 24 Dec 2012, 3:02am PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 1

E-man says

Wooppee,

This belongs to the economics or politics forum. Please move it. Thx.

Unless you are an owner of this site, please mind your own posts. Thx.

marcus   Mon, 24 Dec 2012, 3:14am PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 2

Scary.

ALthough many of these are misleading to downright dishonest. Such as:

#68 During fiscal year 2012, 62 percent of the federal budget was spent on entitlements.

social security payments can't be considered part of the budget, since they come out of the trust fund.

That's propaganda aimed at this.
http://imgur.com/UDO0w

woopee   Mon, 24 Dec 2012, 3:29am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 3

marcus says

Scary.

ALthough many of these are misleading to downright dishonest. Such as:

#68 During fiscal year 2012, 62 percent of the federal budget was spent on entitlements.

social security payments can't be considered part of the budget, since they come out of the trust fund.

That's to the propaganda the propaganda aimed at this.

http://imgur.com/UDO0w

Nice try, read again,

"Presently, the Social Security program is the largest single item in the annual federal government budget. "

the quote above says federal governmnet budget and is from the SSA website.

And regarding the word "entitlement, read on.

Empowered Democrats resist changes to federal entitlement ...
www.bostonglobe.com/news/...federal-entitlement.../story.html
Nov 27, 2012 – ... significant changes in entitlement programs like Social Security and Medicare. ... Democrats resist changes to federal entitlement programs ...

marcus   Mon, 24 Dec 2012, 4:27am PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 4

Here this is probably not the best source, but one I found quickly to help you comprehend.

http://www.federalbudget.com/

Scroll down and see Social Security in the table.

SOCIAL SECURITY

is not part of the Federal Budget (General Fund). It is a separate account from the General Fund, and has its own source of income ("Payroll Tax"). Social Security payments go in the Social Security Trust Fund (SSTF), and should NOT be counted as general revenue. The SSTF is supposed to be used to pay benefits. But, the Government is under NO OBLIGATION to pay Social Security benefits, and has even borrowed substantially from the SSTF for general operations!

As of August 2010, there is less being paid into the Social Security Trust Fund than is being paid out to beneficiaries. Social Security is now using its "surplus".

For more understanding see: "Social Security Trust Fund." This is money that the govt owes itself.
http://en.wikipedia.org/wiki/Social_Security_Trust_Fund

Anyone including outflows from the SSTF as part of the budget is trying to mislead for the sake of stealing from the people.

marcus   Mon, 24 Dec 2012, 4:32am PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 5

woopee says

the quote above says federal governmnet budget and is from the SSA website.

Well it depends on how you want to frame it. Most reasonable people would say that if you are paying people for a program they paid in to, this is not a part of the budget. To get more technical, it clearly is not a part of the general fund. And there is a SSTF from which these payments are made.

In any case, it isn't an entitlement.

Kevin   Mon, 24 Dec 2012, 4:32am PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 6

I base all of my opinions on conspiracy websites.

I stopped counting how many items are linked to urban legends and fabrications by people trying to sell books when I ran out of fingers.

My personal favorite is links to the oft-repeated (usually by the likes of FoxNews) lie that Reggie Love was Obama's "official dog walker" (and general exaggerations of the cost of the presidency)

woopee says

the quote above says federal governmnet budget and is from the SSA website.

I forgot that the SSA website is the official record of US laws. Thank you for clarifying!

The Professor   Mon, 24 Dec 2012, 5:11am PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 7

From the article:
"#8 The percentage of working age Americans with a job has been under 59 percent for 39 months in a row."

Can someone explain, if this is true, why the "official" unemployment rate is much lower than 41%. Thanks

marcus   Mon, 24 Dec 2012, 5:27am PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 8

THey can be in school, retired, stay at home Mom or Dad, and a few other categories not included in what we call "unemployed."

I would imagine that as the baby boomers retire(even though many won't) , this number will continue to be low.

iwog   Mon, 24 Dec 2012, 5:47am PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 9

I was promised a discussion of "why all this is happening".

What's the #1 reason to blame Obama? Lets start there.

bob2356   Mon, 24 Dec 2012, 5:51am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 10

woopee says

"Presently, the Social Security program is the largest single item in the annual federal government budget. "

the quote above says federal governmnet budget and is from the SSA website

That is incorrect. Social security was off budget until 1968 then on budget until 1983 then off budget but the surplus could be included in the federal budget for deficit reduction until 1990 then OBRA prohibited the surplus from being used in deficit calculations.

That is where it stands now. SS is NOT legally part of the federal budget. Look up OBRA. Everyone involved knows better, but they include the numbers anyway to cover up the true cost of military spending. .

Nice try.

I agree with Marcus, a lot of the article is just garbage.

marcus   Mon, 24 Dec 2012, 5:54am PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 11

iwog says

What's the #1 reason to blame Obama? Lets start there.

OH, the author isn't blaming Obama. Just sharing observations especially designed for the Foxnews crowd.

#73 Amazingly, the U.S. national debt is now up to 16.3 trillion dollars. When Barack Obama first took office the national debt was just 10.6 trillion dollars.

#74 During the first four years of the Obama administration, the U.S. government accumulated about as much debt as it did from the time that George Washington took office to the time that George W. Bush took office.

Pretty amazing that he got reelected. I guess it's because of the 47% that are "takers, not makers."

Patrick   Mon, 24 Dec 2012, 7:20am PST   Share   Quote   Permalink   Like   Dislike     Comment 12

E-man says

You posted on the wrong forum. Your response was hostile, but at least you moved it to the right forum now. That's all I care.

Actually I moved it, because it did seem miscategorized.

BTW, anyone can now create a new category if they want. Just create or edit one of your own threads and you'll see what I mean.

woopee is moderator of this thread.

Email

Username

Watch comments by email

home   top   questions or suggestions? write p@patrick.net