Fiscal Cliff

Did you know that Reagan used a lot of illegally raised money to commit heinous acts against the people and country of Nicaragua.

Parados forgot to tell you that part. He's such a homer.

The problem JT, it seems to me, is what is the evolutionist perspective on it all. You know the evolutionist principles don't you? Nature red in tooth and claw, the survival of the fittest, the struggle for existence, let the devil take the hindmost.

I remember in Moby Dick when the hero wondered whether it would be better if the ladies would turn their lamps down a little at their dressing tables. I thought it pretty profound.

Americans have voted for what is owed them. Each and every American, who has paid into Social Security and Medicare during their many, many years of employment ( often at hard labor ), did so in order to have an affordable health plan via Medicare and a source of income through Social Security to tide them over as they age.

No American worker slaved day in and day out so they could starve or go without needed medical care in their old age.

American workers have the abolute right to both their Social Security and Medicare benefits without having to fight the money grapping politicians in Washington. That is their right and that is their entitlement.

I've been out all day but it seems that the GOP floated the Paul Ryan plan as a response to Obama's proposal and stuck Erskine Bowles name on it. He protests:

Isn't the problem, Miller, what the money was invested in? If it was badly invested there's nothing to be done about it. It's a grin and bear it job. Like when the milk gets spilt. It can't be conjured back into existence with talk.

And the electorate chose those who invested it.

Investment will always have it's risks. Is it better to invest, today, in a 1 year CD paying 0.25% or put that same amount of money into an Index Fund or even a good mutual fund and take some amount of risk?

where in the hell are you finding one year CD's paying that rate?

I'm seeing .1 as the best deal out there right now...

or are you making **** up again...?

The problem is more one of demographics and perceptions. Miller states that workers deposited funds through their payroll deductions for their future. That's not really true. They were taken (involuntarily) in order to support the retired seniors who were collecting benefits at that time. The coming of the boomer retirement explosion has been known for years and our elected officials (those chosen by the folks in retirement or the current workforce looking to retire someday) didn't bump up the withholding enough to cover the needs of these masses.

It really comes down to the idea of an entitlement or a welfare program. Most American are averse at the idea of being on welfare, but that's really what it is today. The funds I put aside outside of my payroll deductions are mine. I invest them and I'm entitled to them. The funds taken from me for SS and Medicare are to pay for the health and welfare of others.

That's not the issue; putting money into a one year CD that earns .25% only proves you're not a good manager of your own money. That's losing buying power, because at the current inflation rate the net gain is minus 1%.

it might not be your issue...

where does one find these .25% 1 year certificates of deposit?

I want one to go with my unicorn.

Here's some 1-year CD rates that's better.

http://www.bankrate.com/cd.aspx

It should be noted, though, that there was a promise of future payments when they decided how much of our pay they were going to take. The fact that they've under-funded the accounts and not appropriately capped expenditures on a per-person basis is on us --- we didn't pay attention for the most part and those who did saved heavily outside the system for their own future needs as best they could. Now, those who saw this coming and did their own saving will fail the means tests being put forth and be excluded from getting a return.

my decimal point is in the wrong place, and I'm assuming hers is as well.

1 % return is the top end of the CD market.

and it's still falling...

are the GOPsters still suggesting trying to privatize most of it?

I believe that's a component of the Ryan budget plan. It's not part of the current fiscal cliff discussions.

Pelosi: Democrats are filing a discharge petition, to force a vote on extending the middle income tax cut, on Tuesday at noon.

The Ds are going to push for an up-or-down vote on the Senate bill that extends the Bush tax cuts for all but the top 2%. It will be curious to see if she actually does it and if any Rs will vote for it.

Take a good look at the Medicare Handbook for example if you wish to read about wasteful spending.

Is there some reason why Medicare should pay a physician to tell an individual he or she is obese? If you're fat, you know it.

I would venture to guess that the typical senior has no idea how much they gave into Medicare via matched deposits over their working career and no concept of how much in total they've received (or think they're entitled to receive) in benefits against those deposits.

I think the average patient on Medicare can find out how much their treatment cost and what percent was paid by the Medicare program.

A trip to the ER in Massachusetts, for example, for a tetanus shot will cost the patient about $550-$600 if paid out of pocket. With Medicare paying the bill, the patient in Mass will only have to pay the co-pay for the ER, or about $50-$65.

I don't know how a patient can find out how much he is
entitled to receive in Medicare benefits.