Obama '08?

@ican711nm,

ican711nm wrote:

Quote:

[question="parados"]The current outlays for Social Security is 721 billion.
To eliminate the income and keep the outlay would result in a 1.54 trillion deficit.

Who do you think is going to pay the interest on all the borrowing ican?

1. We must stop paying for the future Socuial Security outlays for new social security participants.

That doesn't even make sense. You are going to stop paying out for those people that participate? Gee. that is an idiotic statement on your part

Quote:

2. We must provide alternative secure savings accounts for those not currently participating, or who do not wish to continue participating, in the social security system.

Secure? You are going to have them guaranteed by the government? So, it sounds like it's the same thing as Social Security. A government guaranteed payment when someone retires based on the amount of money they put in. (No company can guarantee anything since it can always go bankrupt.)

Quote:

3. These savings accounts will serve as reliable alternatives to social security's insecure debt creating accounts.

Oh, the government can guarantee those accounts but can't guarantee SS payments? That sounds a bit odd. But then it's you telling us this so I guess I should expect that.

Quote:

4. The interest on those savings accounts will be paid by revenue collected from private surpluses from their private savings account investments (e.g., like the interest on private savings currently paid by the surpluses banks make from the interest they charge on the loans of that money they make to the private economy).

That doesn't even make any sense. The interest is going to be paid out of the accounts that are supposed to earn interest? What?

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@parados,

He's so confused, he contradicts himself in the same sentence. He wrote,

Quote:

1. We must stop paying for the future Socuial Security outlays for new social security participants.

ican wants the government to play the ponzi scheme for people now paying into to social security. Yeah, makes a whole lot of sense.

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TALK ABOUT EGO ..

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@parados,

BASED ON WHAT SENATOR COLBURN REPORTED,
CONGRESS SHOULD REPLACE
ALL NEW FICA ACCOUNTS WITH PURCHASES OF US SAVINGS BONDS THAT HAVE AN
ANNUAL INTEREST FACTOR EQUAL TO OR GREATER THAN 1.0422 FOR 44 YEARS.
THEN CONVERT THOSE BONDS TO A
35 YEAR ANNUITY.
ALSO REDUCE SOCIAL SECURITY PAYMENTS 1% PER YEAR,
OR ABOUT $200 PER YEAR.

These are good ways to eliminate future FICA, Medicare, and Medicaid deficits!

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@ican711nm,

Quote:

THEN CONVERT THOSE BONDS TO A
35 YEAR ANNUITY.

Who guarantees the annuity?

Quote:

ALSO REDUCE SOCIAL SECURITY PAYMENTS 1% PER YEAR,
OR ABOUT $200 PER YEAR.

oh.. so are you willing to get $200 less per year from SS?
That means in 10 years when prices are 120% compared to today, your SS payment will be $2000 less than today. Is that really OK with you ican?
Will you accept a 4-5% cut in real dollars every year? I doubt it.

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@parados,

The whole thing is completely and totally farcical. Ican is just so against anything that the Dems support, he's willing to tie himself in knots to create a program which would be.... exactly like it, with the same problems. Just with a different name.

Cycloptichorn

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@ican711nm,

Hey, ican, what ever happened to the interest rate you were quoting just a few days ago? You realized it was too high? LOL

1 Reply

@cicerone imposter,

I had to read it twice CI. Ican is using the multiplication number, not the interest rate.

He is proposing a 4.22% interest rate on those US Bonds. Which only means that he is planning on making the debt much worse than it is. Current rates on US Savings bonds are 0.74% interest. Ican thinks they should pay 6 times the going rate in order to save the country money.

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@parados,

parados wrote:

Current rates on US Savings bonds are 0.74% interest.

It is getting to the point that stuffing your savings into the proverbial mattress might be worth considering? At least the government can't spend it. But they would probably pass a law requiring government inspection of mattresses or recycling of mattresses every 5 years at an approved Bureau of Mattresses office.

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@parados,

Thanks for that clarification; I have the habit of skimming over ican's posts, and may not interpret them properly.

That he continues to use a constant multiplier only proves how out of touch he is in understanding US bonds. He's just being foolish.

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@okie,

okie wrote:

parados wrote:
Current rates on US Savings bonds are 0.74% interest.
It is getting to the point that stuffing your savings into the proverbial mattress might be worth considering? At least the government can't spend it.

Ah, but they can! They don't need your money to spend your money.

Cycloptichorn

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@okie,

So you agree with Ican that the government should pay 4.22% on US Savings Bonds in the current environment?

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I must have missed this earlier this month, but - a very cool thing!

http://thehill.com/blogs/blog-briefing-room/news/147503-obama-white-house-first-to-serve-homebrewed-beer

Quote:

Obama as beer-brewer-in-chief
By Daniel Strauss - 03/04/11 12:33 PM ET

Barack Obama will go down in history as, among other things, the first president to brew his own beer in the White House.

The blog Obama Foodorama reported this week that the president's Super Bowl party featured a selection called "White House Honey Ale,” brewed right at 1600 Pennsylvania Ave.

The blog said the president and first lady Michelle Obama bought the equipment with their own funds (an aide did not specify when) in advance of serving it at the February gathering.

The "honey" part of the beer comes from Michelle Obama's garden beehive. The beehive is also a White House first.

Foodorama notes that Obama is the first president since George Washington to homebrew beer, and the very first to offer the brew at the White House. (Washington was a perennial self-brewer, the blog said, but he’s the only president who didn't live in the White House.)

The news sparked a small flurry in the blogosphere given that Obama, who has previously settled friendly bets between world leaders with beers like Goose Island's 312, had not shown a predilection for do-it-yourself beers. Obama settled a World Cup bet last summer with British Prime Minister David Cameron by giving his English counterpart a bottle of 312. And during 2009's so-called "beer summit" with Vice President Joe Biden, Henry Louis Gates Jr. and Massachusetts Police Sgt. James Crowley, Obama drank a Bud Light.

Although the White House isn't ready to release the recipe yet, a spokesman told Foodorama that “White House Honey Ale” isn't a one-time thing.

"It is very safe to assume that there will be more White House beer in the future," White House East Wing spokeswoman Semonti Stephens said.

I love home-brewed beer. I keep telling myself I'm going to get into it one of these days; I have plenty of friends who do it and it really isn't all that hard. Just takes time.

Cycloptichorn

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@Cycloptichorn,

Cycloptichorn wrote:

I must have missed this earlier this month, but - a very cool thing!

http://thehill.com/blogs/blog-briefing-room/news/147503-obama-white-house-first-to-serve-homebrewed-beer

Quote:
Obama as beer-brewer-in-chief
By Daniel Strauss - 03/04/11 12:33 PM ET

Barack Obama will go down in history as, among other things, the first president to brew his own beer in the White House.
Cycloptichorn

You can't be serious, cyclops? Obama has time to brew beer in the Whitehouse? That is nonsensical.

1 Reply

@okie,

It is?

Do YOU work constantly? Never take an hour or two off, any day of the week?

Of course not, and neither does any president. And that's not a bad thing - it's not healthy to work all the time and it leads to stress and bad decision-making. I'm sure you've seen that through the career you've had that people can burn themselves out if they are not careful.

So why give him a hard time? Just because ya like to?

Besides; have you ever made beer? It takes a couple of hours one day, sits for weeks in the closet, and then a couple of hours to bottle. I think the free world will look after itself for a few hours, don't you? Laughing

Cycloptichorn

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@Cycloptichorn,

President Bush spent entire days clearing brush and okie wants to whine about Obama brewing beer which mostly involves waiting for it to brew.
1. mix the ingredients
2. wait.
3. bottle it

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@Cycloptichorn,

I dont homebrew beer, but I have a friend that does.
And his beer is actually pretty good.

I wouldnt mind trying some of Obama's homebrew, it sounds like it might be pretty good.

1 Reply

@mysteryman,

I like honey-based beer but they can give you a wicked hangover if you're not careful.

Worst hangover I ever had was after a Renaissance festival in TX - I had a couple of bottles of Mead - big bottles - which I will never, ever do again. Probably Smile

Cycloptichorn

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@Cycloptichorn,

The first time I ever tried mead was at a Renaissance festival in upstate NY.
I enjoyed the taste of it, but it did have a kick to it the next day.

I admit to knowing nothing about home brewing beer, but the beer my friend makes is a very dark beer, about the same color as Guinness.
I dont know whats in it, but it is good.

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@okie,

Hey, stuff your money into your mattress so you can't spend it and can't buy things to pay your proposed sale tax!

0 Replies

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