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Cary

US targets retirees to pay debt

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Cary

Tom;

 

 

 

 

I like it. it wont happen but I like it. Remember when the recession hit, Congress voted itself a raise. And many people like co-workers and neighbors of mine were getting laid off and forced to take unemployment so they could feed their families.

 

 

 

 

In Arizona if the state legislature wants a pay raise it has to be voted on in a referendum. Needless to say they haven't had a raise for a good long time. I think congressional pay and benefits should have to undergo the same process.

 

Lets face it how many of us would vote for less if they could set their own pay and benifits.

Edited by Cary

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Cipro

I hate it too Cary. The Politicans want to balance the budget on the backs of the middle class. Social Security would work just fine if they kept their gready little hands out of it and quit borrowing money from it.

 

A lot of pension plans invest in government bonds and such; what did you want them to do with Social Security, put the money in a big mattress?

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RogerDuMond

A lot of pension plans invest in government bonds and such; what did you want them to do with Social Security, put the money in a big mattress?

We certainly didn't want them to pay for other social programs with it.

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Cipro

We certainly didn't want them to pay for other social programs with it.

 

My understanding is that the funds in question were not directly used to "pay for other social programs", they were however used to buy federally backed notes, and the money raised with those notes went into the general fund. Did I misunderstand?

 

I admit, I'm an engineer not an accountant.

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SkyMan

 

The government could even issue "gigabucks" like Italy and distribute them to the citizens while paying China in good old bucks, which would effectively be a default. No one wants to see that. Debt is an issue but ongoing deficits might be more worth thinking about.

Lets just issue the gigabucks say, a 20 trillion $ note to China and tell them to keep the change. When they try to spend it....sorry no change.

Edited by SkyMan

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