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#11
09-24-2012, 12:01 PM
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They are not a way to "raid" the SS trust fund. Each day the tax receipts are deposited into the trust fund. Then Certificates of indebtedness, a form of special Issue securities, are issued to the Government and the money is placed in the general fund. The certificates all are due, with interest, the next June 30th. The government can buy Bonds, which is also a Special Issue securities, on June 30th with a maturity date of 1 to 15 years. When they mature the government pays back the trust fund with interest. Trust Funds are required to invest the monies in it into secure investments. It is like you or I buying a U.S.Savings Bond. Wall Street wants to privatize SS so they can basically do the same thing, but invest the money into unsecured investments while charging hefty fees. All I can say is remember 2008. 
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#12
09-24-2012, 01:21 PM
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Those ious are currently coming due - they come out of general revenues.
Meaning there is no money. Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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#13
09-24-2012, 01:34 PM
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John
__________________
Smoke me a kipper. I'll be back for breakfast.
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#14
09-24-2012, 01:43 PM
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Quote:
Quote:
__________________
I don't know half of you half as well as I should like, and I like less than half of you half as well as you deserve. - Mr. Underhill
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#15
09-24-2012, 02:04 PM
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Quote:
Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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#17
09-24-2012, 02:36 PM
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It's proof that it isn't big bad business trying to steal your children. There's nothing there to steal - the wonderful altrustic friend of the common man beat them to it.
Or we can stick our head in the sand. Working great for Europe. Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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#18
09-24-2012, 02:57 PM
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If Paul Ryan told you to jump into Lake Erie you would wouldn't you?
I am following your example of non-sequitur posting....
__________________
Never was there a time when I did not exist, nor you, nor in the future shall any of us cease to be.
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#19
09-24-2012, 02:59 PM
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Chicken little says, there is no trust fund
If Obama told you that the deficit was halved in his 1st term, would you believe it?  Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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#20
09-24-2012, 03:11 PM
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LOL...you never get mad do you Pete? By the way Obama has never said he cut the deficit in half....did he?
__________________
Never was there a time when I did not exist, nor you, nor in the future shall any of us cease to be.
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