WatchNEW YORK (CNNMoney) -- U.S. stocks bounced Tuesday afternoon, after minutes from the latest Federal Reserve meeting hinted that the central bank could be open to more stimulus.
According to the minutes from the Fed's June meeting, some committee members argue that the Fed may have to consider additional stimulus measures, "especially if economic growth remained too slow to meaningfully reduce the unemployment rate in the medium term."
But Obama said he will hold back Social Security checks to granny if the mean damned ole Republicans doesn't put trillions of small untraceable bills in a gunny sack and hand it over to him and his Liberal dominions.
Are you not entertained!?
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Nice try.
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Bellingham, WA
But Obama said he will hold back Social Security checks to granny
Congress has cut off the Executive's ability to issue new debt. This means we must "spend within our means".
Social Security is government spending. If the money can't be found, the checks will have to be delayed. Who gets paid is up to the Treasury, but if we don't pay our bondholders we will be in default, and that's really bad, so they come first, before granny.
The Republicans are going to have to grow up and face the medicine that their $3T war is going to have to be paid for eventually, and we can't cut taxes to get there.
Obama already allegedly offered to cut my social security $1000/yr and delay my medicare eligibility 2 years. Asking that people making $350K per year pay another $130/week in taxes starting in 2013 is not even a symmetric sacrifice.
This whole thing is Bullshit with a capital B.
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Troy says
Social Security is our savings account nothing to do with the taxes that are collected and the war chest of political feathers.
Nice try, but HEY, I'm not the one stepping in a Big Ole pile of ONE TERM.
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It did bounce but its now negative. So much for that. Thing is- I am actually glad that stocks are doing well in many cases. If companies show huge profits, well hey- I'm invested in a lot of those and for me that means money.
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Tenouncetrout says
You are joking right? Or do you really have no idea how Social Security was designed or is run?
Social Security is an insurance program, and your SS taxes are "premiums" paid to this insurance.
There is no Social Security account with a little pile of cash and your name attached.
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leoj707 says
Sure I got a statement every year... But come to think of it, I haven't gotten one in Three. Now I wonder fucking why the Stealocrats are stealing our SS payments and calling it Libya Bombardier gas money.
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Tenouncetrout says
Yeah, I have gotten those also; that is not the same as a bank statement. It is/was kind of stupid to send them out like that because people get the wrong idea. They keep track of your total contribution because any payouts are based on your contribution level, but just like an insurance premium your money is gone as soon as they cash the check. Also, like insurance you only get payouts when/if you meet the right criteria, most commonly retirement age but there are others.
The money is not stolen from the SSA fund, but the SSA buys government bonds and that way "lends" the money to other government agencies.
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Tenouncetrout says
That's because it's excess spending to send out the statements. Most people didn't understand them, or threw them away without looking.
Social Security monies have been tapped into for everything - and now there's not enough to start paying the boomers. Tenouncetrout says
Not by your thread. Please, in the future, make your headline "TOT blames Obama for everything," 'cause that's what you're doing. He didn't create the recession, he's doing the best that he can and has lots of opposition.
If you're so angry, why don't you run for president and see how easy it is?
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Obama is a typical democrat. He'll throw constituents under the bus if he has to to get his way. This is just legalized racketeering.
Thanks for the change jackass.
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EMan says
LOL, when I want an unbiased opinion of Democrats I turn to Eman!
I was rethinking the alleged $4T Obama "deal" and it wasn't as bad as I originally thought.
As it affected me, the deal would have been to push off my medicare age two years and cut my SS $1000/yr or so, but in return I'd get to keep my Bush tax cuts as long as I made less than $200,000/yr.
Prolly a wash in the scheme of things, since the bulk of my income now is being taxed at 25% instead of the 30% it was back in 2000.
Not much of a bus to be thrown under at least.
But TBH I really don't think this government is going to be able to continue spending $3T while only taking in $1.5T, especially when the baby boom hits 62-65 en masse in 2014-2018.
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Troy says
They sure will try. History will repeat, they will try to pass the buck around, kick the can as long as they can, try to stick the other party with the blame.
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No, Obama offered a $4T deficit package that was rejected simply because it had tax raises on the top marginal bracket -- oh, sorry, "job creators".
The Tea Party is hopefully still serious about replaying that "Read My Lips. No New Taxes" thing. Bush Sr abandoning that pledge in late 1990 is what gave us Perot, and the current Tea Party has a very large overlap with Perot.
http://articles.latimes.com/1992-03-04/news/mn-3132_1_tax-increase
Unfortunately, I don't think the American people want the spending cuts that are required if we don't raise taxes and we can't cut defense spending.
This $1.6T/yr deficit ain't going to close itself.
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That's why I don't buy food from the Soylent green section of the grocery store.
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To the anti - black (oops i mean't obama) guy. Your a racist pig. Just replace bush w obama and you might something right, RIGHT.
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Oh yeah, and go sign up for military forces and refuse payment. Because i am not paying for this.