Biden Presidency

[jprue24]

Look at my posts. My stance has never changed or pivoted. I said nothing about your prior focus. But so good of you to try to deflect.

Do you think cuts should be made to SS to keep it solvent???? No changes ….. automatic cuts at approximately 2035 estimated 20% reduction. Your choice…. Which one?

I edited my post before your response.

 

[ab2cmiller]

I edited my post before your response.

So I still want to hear your choice…. make strategic specific cuts to SS now or do nothing and everyone gets a 20% cut in 2035.

 

[jprue24]

So I still want to hear your choice…. make strategic specific cuts to SS now or do nothing and everyone gets a 20% cut in 2035.

I know a bit about it, but I'm not educated enough about the entire Social Security system to tell you how to fix it. I personally, would rather pay some more into it, if that means it's still there.

Has there been any specific data put out examining what amount, if any, COVID deaths changed the calculus?

 

[TorontoGold]

What would it take to adjust the investment mandate of SS to move from US Treasury securities to more enticing opportunities? You're kind of cooked if you just invest in treasury securities with rates on a downward trend since the 80's. With CPI targets being ~2% of most central banks, and treasury rates only increasing to put downward pressure on CPI - you're only "gaining" in years where inflation is high.

Probably wouldn't get supported by any party, a crown corp that is given a mandate from the US Gov to essentially run a private equity firm to handle SS would be called "Big Government" by Republicans and the Dems would likely be able to deliver a message that tells their base a bunch of feds won't squander their retirement or that feds are going to start buying up small businesses and closing them.

Obviously would never get passed but man, the literal commerce hub of the world should be able to get a pretty strong group together to manage a portfolio like SS. Like the Avengers of private equity.

 

[ab2cmiller]

I know a bit about it, but I'm not educated enough about the entire Social Security system to tell you how to fix it. I personally, would rather pay some more into it, if that means it's still there.

Has there been any specific data put out examining what amount, if any, COVID deaths changed the calculus?

In October they revised the estimated date pushing it back one year to 2035.

Paying more into the system should also be an option as well. Positives and negatives to all of the savings measures and Congress needs to work together to come up with the best set of changes.

Unfortunately the can will likely be kicked down the road for awhile yet. My prediction is nothing will be done till at least 2030 when there is more pressure. Then the changes will be more severe than if we started the process now.

 

[ulukinatme]

Cool story. I'm glad you agree that some Republicans (including yourself) want to cut Social Security benefits.

I would rather they not actually, keep dreaming though. I would rather they reinforce it by cutting spending in other areas and quit stealing from it, but if they're unwilling to fortify it I would rather they make adjustments to keep it going. Keep moving goal posts though. This was about the lie always pushed that GOP want to end it completely. Nothing is further from the truth.

 

[ab2cmiller]

What would it take to adjust the investment mandate of SS to move from US Treasury securities to more enticing opportunities? You're kind of cooked if you just invest in treasury securities with rates on a downward trend since the 80's. With CPI targets being ~2% of most central banks, and treasury rates only increasing to put downward pressure on CPI - you're only "gaining" in years where inflation is high.

Probably wouldn't get supported by any party, a crown corp that is given a mandate from the US Gov to essentially run a private equity firm to handle SS would be called "Big Government" by Republicans and the Dems would likely be able to deliver a message that tells their base a bunch of feds won't squander their retirement or that feds are going to start buying up small businesses and closing them.

Obviously would never get passed but man, the literal commerce hub of the world should be able to get a pretty strong group together to manage a portfolio like SS. Like the Avengers of private equity.

Seems like more investment flexibility could help temporarily until the trust fund runs out.

 

[jprue24]

I would rather they not actually, keep dreaming though. I would rather they reinforce it by cutting spending in other areas and quit stealing from it, but if they're unwilling to fortify it I would rather they make adjustments to keep it going. Keep moving goal posts though. This was about the lie always pushed that GOP want to end it completely. Nothing is further from the truth.

I haven't moved any goal posts you dingbat. For me, this has been about you and your bullshit about what Biden said in the sotu about some republicans and Social Security.

I ask you again, do you still belive Biden was lying about some Republicans wanting to cut Social Security and Medicare/Medicaid?

In October they revised the estimated date pushing it back one year to 2035.

Paying more into the system should also be an option as well. Positives and negatives to all of the savings measures and Congress needs to work together to come up with the best set of changes.

Unfortunately the can will likely be kicked down the road for awhile yet. My prediction is nothing will be done till at least 2030 when there is more pressure. Then the changes will be more severe than if we started the process now.

Which is exactly why Scotts plan is ludicrous and Biden was right to call it out specifically.

What would it take to adjust the investment mandate of SS to move from US Treasury securities to more enticing opportunities? You're kind of cooked if you just invest in treasury securities with rates on a downward trend since the 80's. With CPI targets being ~2% of most central banks, and treasury rates only increasing to put downward pressure on CPI - you're only "gaining" in years where inflation is high.

Probably wouldn't get supported by any party, a crown corp that is given a mandate from the US Gov to essentially run a private equity firm to handle SS would be called "Big Government" by Republicans and the Dems would likely be able to deliver a message that tells their base a bunch of feds won't squander their retirement or that feds are going to start buying up small businesses and closing them.

Obviously would never get passed but man, the literal commerce hub of the world should be able to get a pretty strong group together to manage a portfolio like SS. Like the Avengers of private equity.

If a private firm taking over is the way we end up going, the oversight better just a smidge below unbearable.

 

[TorontoGold]

Seems like more investment flexibility could help temporarily until the trust fund runs out.

The goal is for long term sustainability. Short term it's obviously better to hold treasury funds for easier liquidity.

I haven't moved any goal posts you dingbat. For me, this has been about you and your bullshit about what Biden said in the sotu about some republicans and Social Security.

I ask you again, do you still belive Biden was lying about some Republicans wanting to cut Social Security and Medicare/Medicaid?


Which is exactly why Scotts plan is ludicrous and Biden was right to call it out specifically.



If a private firm taking over is the way we end up going, the oversight better just a smidge below unbearable.

Needs to be private so that it actually does something and isn't just buying up distressed assets of the political party dujour.

 

[SeekNDestroy]

So I still want to hear your choice…. make strategic specific cuts to SS now or do nothing and everyone gets a 20% cut in 2035.

What about killing off some or even all senior citizens that don’t meet certain criteria such as those who’ve outlived their savings or who didn’t save in the first place?
-Congressional Republicans (probably)

 

[jprue24]

The goal is for long term sustainability. Short term it's obviously better to hold treasury funds for easier liquidity.



Needs to be private so that it actually does something and isn't just buying up distressed assets of the political party dujour.

Ok, but it better be a well paying contract because I want so much non-political government and independent oversite that no great firm would normally want the hassle. I want reporters consistently FOIA requesting EVERYTHING, all the time. They can have the freedom to work the fund but I'd want it be as recession proof as as possible.

That maybe impossible, but I have so little trust of wall street to not do what seems to come natural to it.

 

[jprue24]

What about killing off some or even all senior citizens that don’t meet certain criteria such as those who’ve outlived their savings or who didn’t save in the first place?
-Congressional Republicans (probably)

It seems outrageous but...

 

[TorontoGold]

Ok, but it better be a well paying contract because I want so much non-political government and independent oversite. I want reports consistently FOIA requesting EVRYTHING all the time. They can have the freedom to work the fund but I'd want it be relatively recession proof as well.

That maybe impossible, but I have so little trust of wall street to not do what seems to come natural to it.

I think the CPP (Canadian Pension Plan) model would work pretty well. I don't know how it would be exactly implemented or why it wouldn't work but it seems like it would be a good thing to do? Like taking an innovative offensive scheme from Utah and applying it to a football blue blood, should be a recipe for success.

 

[jprue24]

I think the CPP (Canadian Pension Plan) model would work pretty well. I don't know how it would be exactly implemented or why it wouldn't work but it seems like it would be a good thing to do? Like taking an innovative offensive scheme from Utah and applying it to a football blue blood, should be a recipe for success.

I know nothing about that plan. Are you confidant America's hat isn't headed down a road were it has politicians and dumber members of the electorate wanting to fuck with it?

 

[jprue24]

 

[GATTACA!]

What would it take to adjust the investment mandate of SS to move from US Treasury securities to more enticing opportunities? You're kind of cooked if you just invest in treasury securities with rates on a downward trend since the 80's. With CPI targets being ~2% of most central banks, and treasury rates only increasing to put downward pressure on CPI - you're only "gaining" in years where inflation is high.

Probably wouldn't get supported by any party, a crown corp that is given a mandate from the US Gov to essentially run a private equity firm to handle SS would be called "Big Government" by Republicans and the Dems would likely be able to deliver a message that tells their base a bunch of feds won't squander their retirement or that feds are going to start buying up small businesses and closing them.

Obviously would never get passed but man, the literal commerce hub of the world should be able to get a pretty strong group together to manage a portfolio like SS. Like the Avengers of private equity.

I say we take it all and split it between $TSLA puts and shares of $GME.

YOLO bitches!

 

[jprue24]

I say we take it all and split it between $TSLA puts and shares of $GME.

YOLO bitches!

NFTs are both the present.....AND the future of high end art!

 

[ulukinatme]

I haven't moved any goal posts you dingbat. For me, this has been about you and your bullshit about what Biden said in the sotu about some republicans and Social Security.

I ask you again, do you still belive Biden was lying about some Republicans wanting to cut Social Security and Medicare/Medicaid?

Yes, because he said Republicans want to sunset Social Security, as if they want to get rid of it completely. It was blatant fear mongering like I said. That's not the party's goal, they want to preserve it. This wasn't about reducing or cutting benefits, but that may be a necessary option later down the road if Congress don't want it to go bankrupt in the next 2 decades. There are better options, as previously mentioned, so hopefully it won't come to that. I believe Scott wants to take the $80 billion Biden set aside for the IRS and use it to help strengthen Social Security.

 

[jprue24]

Yes, because he said Republicans

He said "some republicans".

Are you too stupid to understand how your ignoring the word "some" is dishonest?

 

[ulukinatme]

He said "some republicans".

Are you too stupid to understand how your ignoring the word "some" is dishonest?

And it's not dishonest to imply they want to sunset the program for it to never return? This isn't a new thing, my guy. They're been pushing this lie for years. That's the whole point.

 

[jprue24]

And it's not dishonest to imply they want to sunset the program for it to never return? This isn't a new thing, my guy. They're been pushing this lie for years. That's the whole point.

Have you not paid attention to Congress since Obama? The only time anything got done is when Democrats had both houses and the Pres. You really think it would get done before the 5th year? Looked at what happened with sequestration. The cuts were supposed to be so bad that there was no way a deal couldn't get made. Welp, the cuts happened I can tell you from personnel experience those across the board cuts hurt the military. Supposedly just as sacred as Social Security.

You are a fool if you think Congress passes Social Security again. There will be enough nihilists and arsonists in Congress to just let it expire.

Now as I was saying,

Ronna McDaniel.....supported Rick Scott's plan when he released it. Does the head of the RNC count as "some Republicans"?

"Mitch McConnell today said that's not a Republican plan, that's a Rick Scott plan. But we should note that when Republican National Committee chair Ronna McDaniel — when it was released from Rick Scott, she praised it. She said, quote, 'Republicans like Senator Rick Scott have real solutions to put us back on track. Republicans are offering a clear plan to protect and reinvigorate the America we know and love.' Did none of these people read the plan?"

 

[GATTACA!]

NFTs are both the present.....AND the future of high end art!

So crazy it might just work......

Give me every 8-bit ape you've got!!

 

[Irish#1]

Ron Desantis?

"A CNN KFile review of comments from DeSantis’ 2012 congressional campaign found he repeatedly said he supported plans to replace Medicare with a system in which the government paid for partial costs of private plans or a traditional Medicare plan. In one interview with a local newspaper, DeSantis said he supported “the same thing” for Social Security, citing the need for “market forces” to restructure the program."

Ron DeSantis once expressed support for privatizing Social Security and Medicare giving his rivals an opening

Florida Gov. Ron DeSantis expressed support for privatizing Medicare and Social Security during his first campaign for Congress in 2012, giving political rivals who have pledged to protect the programs an opening to attack him ahead of DeSantis' expected run for president in 2024.

www.cnn.com

Yep, Replace it. Not get rid of it and have nothing ready to replace it.

As far as Joe. Technically he didn’t lie. But what he’s trying to do is disingenuous. You know as well as everyone that the Repubs aren’t going to get rid of Social Security.

 

[Irish#1]

What about killing off some or even all senior citizens that don’t meet certain criteria such as those who’ve outlived their savings or who didn’t save in the first place?
-Congressional Republicans (probably)

You better get to the Y and work off some of that anger.

 

[jprue24]

Technically he didn’t lie.

Progress, hoo-ray!

 

[SeekNDestroy]

You better get to the Y and work off some of that anger.

I wasn’t being serious. Do you actually think that I believe politicians are discussing killing senior citizens? How daft are you?

 

[drayer54]

Looks like the Chinese are undeterred by our idiot leader. More flying objects coming our way and one passing through Alaska before Canada shot it down. Ever since Biden’s catastrophic withdrawal from Afghanistan, the world has zero concern about us. I don’t believe it to be a coincidence that Putin decided to move on Biden’s watch after watching people fall off our airplanes.

 

[ulukinatme]

Have you not paid attention to Congress since Obama? The only time anything got done is when Democrats had both houses and the Pres. You really think it would get done before the 5th year? Looked at what happened with sequestration. The cuts were supposed to be so bad that there was no way a deal couldn't get made. Welp, the cuts happened I can tell you from personnel experience those across the board cuts hurt the military. Supposedly just as sacred as Social Security.

You are a fool if you think Congress passes Social Security again. There will be enough nihilists and arsonists in Congress to just let it expire.

Now as I was saying,

Ronna McDaniel.....supported Rick Scott's plan when he released it. Does the head of the RNC count as "some Republicans"?

"Mitch McConnell today said that's not a Republican plan, that's a Rick Scott plan. But we should note that when Republican National Committee chair Ronna McDaniel — when it was released from Rick Scott, she praised it. She said, quote, 'Republicans like Senator Rick Scott have real solutions to put us back on track. Republicans are offering a clear plan to protect and reinvigorate the America we know and love.' Did none of these people read the plan?"

For at least 15 years Democrats during every election cycle "GOP are going to take away Social Security!"
GOP not once have brought it to the table as a bill.
But yeah, not fear mongering or anything. Tell us more about these plans. Sounds like someone has bought into the propaganda pretty heavy.

 

[ulukinatme]

Yep, Replace it. Not get rid of it and have nothing ready to replace it.

As far as Joe. Technically he didn’t lie. But what he’s trying to do is disingenuous. You know as well as everyone that the Repubs aren’t going to get rid of Social Security.

He didn't technically lie, but he also left out the part that these few Congressmen want to replace it with something better. That's a convenient part to leave out. It's deliberate and really no different from lying because he's hiding an important piece to try and fool voters.

 

[GoIrish41]

He didn't technically lie, but he also left out the part that these few Congressmen want to replace it with something better. That's a convenient part to leave out. It's deliberate and really no different from lying because he's hiding an important piece to try and fool voters.

He wants to replace it with something Wall Street can exploit. Nothing is better when the capitalists sink their claws into it.