Greenspan Pushes Social Security Cuts

As I understand it, currently the $$ that is collected through Social Security is not invested.
So, there it is a vast sum of money just waiting.

Do you think that the Chairman of the Federal Reserve Fund is trying to get the central banks hands on the Social Security monies?


By MARTIN CRUTSINGER

WASHINGTON (AP) - Federal Reserve Chairman Alan Greenspan, stepping into the politically charged debate over Social Security, said Wednesday the country can't afford the retirement benefits promised to baby boomers and urged Congress to trim them.

He said that unless Congress acts, soaring budget deficits from out-of-control entitlement programs could lead to a "very debilitating" rise in interest rates in coming years.

the article continues...


[Edited on 26-2-2004 by DontTreadOnMe]

[Edited on 26-2-2004 by DontTreadOnMe]

The misconception that all the social security funds are piled up in a room somewhere or in Algore's mysterious lockbox has been purposfully promoted by those who don't want the masses to know just how unsafe their old age retirement is. Social security funds are far from safe in DC and aren't separate at all from the general fund. In fact, the balance of social security is readily dipped into by government officials who refuse to cut their expenses regardless of attempts to cut expenditures at the federal level.

Ever notice the first thing that is threatened when an attempt is made to cut the waste in DC? Yep, social security. In effect, these fatcats in DC hold the livelyhood of seniors and future seniors hostage to assure they remain at their current standard of living.

Yes, let's make the old live in poverty, after reaching that golden age of 65; let's make them work even longer to support themselves, after working 50+ years already; let's make them eat catfood and chicken pot-pies, because grocery prices are outrageous; let's make them die prematurley, because prescription drugs are so overpriced, a senior will have to make a choice between paying the rent, or getting that much needed, life saving drug.

Totally sickening.

Originally posted by astrocreep
The misconception that all the social security funds are piled up in a room somewhere or in Algore's mysterious lockbox has been purposfully promoted by those who don't want the masses to know just how unsafe their old age retirement is. Social security funds are far from safe in DC and aren't separate at all from the general fund. In fact, the balance of social security is readily dipped into by government officials who refuse to cut their expenses regardless of attempts to cut expenditures at the federal level.

100% correct. I'll go a step further and tell you EXACTLY where all that social security money went.

YOUR BUSH TAX REFUND, with the lion's share going into the hands of the wealthiest citizens in America. Now we are threatened with having to cut social security because of those tax cuts to the wealthy. Hmmmm, if only someone had warned us this would happen. Oh they did. Democrats win again regarding fiscal responsibility.

How anyone can think all these tax cuts and benefit cuts happen in a vaccum is beyond me. They are all tied, with the repercussions known about WELL in advance. It's not like Bush had no clue he couldn't pay for basic benefits if he gave the tax cuts... he knew. But it's called vote pandering.

Attention Ignorant People:

Social Security is NOT a "lock-box", it is just an Income tax!

The money collected "for" Social Security goes into the General Funds.

Another note, it's a pyramid scheme!

Don't believe me? Who is paying for the current elderly Social Security? The young and working!

You can quit S.S. anytime you realize the truth, however, if you want to quit it, "in the system", you can claim a religious objection

familyguardian.betterthanyours.com...

Originally posted by BeingWatchedByThem
Another note, it's a pyramid scheme!

Alot of that going around. So's Trickle Down Voodoo economics and the Bush tax cuts for the wealthy.

The burden is on the middle class. The BEST job in America according to the capital gains tax structure is DOING NOTHING. Just living off investments. That's not right, and shouldn't be the American dream.

Far worse than that money being in the General Fund, I am thinking maybe Alan Greenspan/Federal Reserve/central banks are seeing theese monies as the next step in taking over monetary control of the country.
Why should it be in the gov't coffers when it acan be in the Federal Reserve coffers? Then, the gov't can borrow it and pay even more interest to the Fed!

Rant, you call working people keeping more of their earnings the demise of social security yet you totally ignore the 70% waste inherent in federal government programs.

Tax cuts aren't the problem in D.C. You may fool yourself and few and I hope you don't really believe it yourself. The people that steal from the wealthy are the politicains that use 70 cents of every dollar that goes through their hands as an administration fee.

I'm not the reason social security is threatened because I only paid 27% this year instead of 33% of what my family has to live to the government. The rich fatcat politicians building summer homes and riding around in limos are the reason for that. They and they alone are responsible for the level of poverty in this country. Democrat or Republican, makes no difference.

You defend them while they eat caviar and blame my family because maybe we had enough extra because of a tax cut to buy my son a few new school clothes or fix my old jalopy so I could continue to work and pay taxes so your friggin heros could continue to waste money! You want a rant, By God you got one.

Money is power in any country in the world and as scared of a powerful government as you all seem to be, it just doesn't stand to reason that you oppose the return of some of that power to the people. Its contradiction and I expect nothing less. I'm sick of this "Tax Cuts for the Rich BULL#" I needed the increase in the child tax credit! You know what? Household making over 110,000 a year didn't get it. People making less than the poverty rate for their number in household now pay no taxes! Why would we expect the poor to pay taxes?

Look, I don't know how old you are or even if you've been in the work force long enough to get sick to death of paying for DC playboys to live the biglife only to be accused of being insensitive to the poor whenever we grip about it. You know something...and I want the Colonel to take notice of this too! I gave a poor family who was intransit and broken down in my town the last 20 bucks I had because I felt in my heart it was the right thing to do. Colonel calls me "Cain" and you , Rant blame me for the old being left out in the streets eating catfood. You know something? I work every damn day for what little I have in life. Its not handed to me and I resent being blamed for the problems the very sons of bitches you guys defend cause!

The working class aren't the elite. The elite are in DC! The elite are the lifelong senators that develop ties to special interest and couldn't uncorrupt themselves if they had to.


Tax Cuts for the Rich! Tax Cuts cost NOTHING!! Tax increases cost! I'm sick of your crap and I'm sick of the socialist push in the US. If I wanted to live in a community stall and get my portion of community slope from the community pot for dinner every night, I'd move to Russia!

[Edited on 27-2-2004 by astrocreep]

Greenspan and the Federal Reserve are not trying to get their filthy hands on our Social Security money. If you people knew anything about the way it works then you would realize that all he is doing is giving the our totally corrupt and ineffective congress a good swift kick in the butt and force them to correct the problem. By making the announcement that he did, he succeedded in moving the populace to force the congress of corrupt fools to fix the problem or else be removed from office by 77,000,000 million voters. If you are concerned, and you should be, then contact your congressman and senator and demand that they fix the problem without and loss or reduction in the retirement amounts and absolutely no upwards revision of the retirement age. Any comments? p.s. The Congress of Corrupt Fools can have the Federal Reserve print up all the funny money they want for the illegal and immoral war against Islam on behalf of the Zionist Jews, so they can have them print up more funny money to fix the Social Security System.

[Edited on 29-2-2004 by Eljay]

[Edited on 29-2-2004 by Eljay]

Greenspan announced it again. Cut social security because the government can't afford it.

1)Why not cut Military spending?
2) Why not cut the handouts to the foreign governments that vote against us in the U.N.?
3) Why not pass a law that regulates and caps the pay of all Senators and Congressmen instead of allowing them the right to give themselves pay increases?
4) Why not sue Cheney and his company for the rip-off they performed in Iraq?
5) Why not eliminate the Defense Intelligence Agency which is part of the Pentagon? Why does the Pentagon need a high budget information agency anyway?

Let me get this right, cuts but Social Security is going South of The Border?


www.azcentral.com...

Originally posted by LL1
Let me get this right, cuts but Social Security is going South of The Border?


www.azcentral.com...

I read it that way. I also read all the other foreigners getting social security.

Greenspan works for a private corporation- the Federal Reserve
He was reappointed (nominated?) by Bush
He jacks with interest rates to inlarge or strangle the economy at will

The guy has US by the short hair!

The wealthiest country in the world cannot afford basic healthcare or pensions for its senior citizens? Maybe it is time to start asking why this countries tax policy is designed to redistribute wealth from the working class to a select few while barely keeping the lower class alive. Maybe it is time for the slaves to look around at every other industrialised country and start thinking for themselves.......maybe it is time to deny ignorance.

You guys HAVE social security n the US?!?

I thought you were all just theown in a pit near Washington D.C. somewhere and told to sort it out for yourselves, while people with over 1 millon bucks in personal wealth can buy tickets to watch.....

Must be all that anti-american propaganda we get...