Hey, Harry Reid, do you think we have an entitlement crisis yet?
I want to remind you of what Harry Reid said just a few years ago in response to Republican calls for Social Security and Medicare reform. Reacting to GOP warnings in 2005 about the impending insolvency of both programs, Reid sneered:
“Today’s report confirms that the so-called Social Security crisis exists in only one place — the minds of Republicans,” said Senate Democratic Leader Harry Reid of Nevada. “In reality, the program is on solid ground for decades to come.”
Now, the Obama administration tells us:
Social Security and Medicare are fading even faster under the weight of the recession, heading for insolvency years sooner than previously expected, the government warned Tuesday. Social Security will start paying out more in benefits than it collects in taxes in 2016, a year sooner than projected last year, and the giant trust fund will be depleted by 2037, four years sooner, trustees reported.
Medicare is in even worse shape. The trustees said the program for hospital expenses will pay out more in benefits than it collects this year, just as it did for the first time in 2008. The trustees project that the Medicare fund will be depleted by 2017, two years earlier than the date projected in last year’s report.
The trust funds — which exist in paper form in a filing cabinet in Parkersburg, W.Va. — are bonds that are backed by the government’s “full faith and credit” but not by any actual assets. That money has been spent over the years to fund other parts of government. To redeem the trust fund bonds, the government would have to borrow in public debt markets or raise taxes.
Treasury Secretary Timothy Geithner, the head of the trustees group, said the new reports were a reminder that “the longer we wait to address the long-term solvency of Medicare and Social Security, the sooner those challenges will be upon us and the harder the options will be.”
Republicans have been saying this for years.
Just a figment of imagination, eh, Sen. Reid?
See what others have said
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Trackbacks
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Easy just print more money.
I’d rather cough up a yak hairball than look at Harry Reid on the TV.
He looks like a used-Yugo salesman.
Basically, whatever Dingy Harry says is just the opposite of reality.
I keep waiting to hear that the Obama Administrations plans to fix social security is to lock out Conservatives, after all we believe in self reliance (of course they would keep collecting the SS tax from our checks to pay for everyone else though).
A bit off topic, but I see where the Dem’s in the House have once again blocked an ethics probe into campaign finance issues (primarily of Murtha by the sounds of it).
How’s that most ethical Congress going for you Pelosi?
Harry Reid will never be confused with Nostradamus.
Harry Reid will never be confused with Nostradamus but he will ever be confused.
Fixed it.
Fixed it too.
This is all part of their plan. Massive taxes, massive dependence, permanent control.
So it really is true. Dems did not want Pres. Bush to get credit for fixing Social Security but now (when we are almost out of options) they want to talk about “addressing the long-term solvency” of these programs. These people make me sick.
That phrase is no longer very reassuring. I have no faith in the government and their credit has seen better days.
It’s down the MSM memory hole.
Unfortunately, it doesn’t matter what he said. Neither he nor the other dems will ever be held accountable if the recent handling of the shenanigans by people like Frank and Dodd is to be used as a precedent.
I equate this to a bunch of people that should be caretakers, ransacking our property, and selling everything we have,
The Ongoing and Unauthorized American Yard Sale!
Reid makes me want to retch.
As most of you know, “the giant trust fund” is a farce because each year the Congress spends, not saves, the surplus. That surplus will decrease each year between now and 2016, when SS starts going into the red, and our budget deficits will only continue to skyrocket.
Forget 2037…the Democratic Socialists are bankrupting us right now!
Just a few months ago, I tried to convince one of our flaming liberals of the insolvency of these programs. He insisted that there was a real trust fund, and the program was fully funded for decades. I tried to explain that the money had already been spent and there were only IOUs in the “trust fund”, but facts only confuse these people.
Medicare is in even worse shape.
Hey! Medicare was so successful, let’s nationalize the whole thing!
These people truly want to control everything, regardless of whether it fails. The dupes in congress who vote for this garbage are stool pigeons who are too dumb to figure out it won’t work or are complicit in the power grab.
Traitors.
I suspect it won’t be long before the government is bankrupt and the dollar becomes worthless on the world market. Welcome back, double-digit inflation and massive taxes. Well, it might force some welfare lifers to actually go and get a job, if the job market hasn’t dried up.
Harry Reid’s intelligence is a figment of his imagination, too.
I’m sure we will not like their version of the “fix” for these socialist programs. I can hear it now, lower lip bite, pause, “I tried my best to cut middle class taxes but…”.
Is their even a remote chance the reasonable people of Utah will vote this creep out of office the next time he runs?
Alan, probably not, he’s from Nevada. But hey, they can try! lol.
Please forgive me Utah.
WisCon has it right. The libs have no desire to “fix” Social Security. And, unfortunately, the majority of the voters don’t want them to “fix” it either.
For the libs this is about control, pure and simple. If it leads to a huge crisis, which it will, that is just fin with them. Remember, Rahm and his cronies thrive on any self-created crisis.
For the voters – Most will declare war on anyone who dares to touch any welfare program from the government.
The libs are in full control for now. Nothing will be done, unless it is to start “means testing” SS and take it away from the evil rich. You know – From each according to his ability, to each according to his needs.
Well being a couple of those evil “senior citizens” my husband & I are worried about this mess. My husband was laid off from jobs numerous times & had to move to different states to get another. In a number of cases he was out of work for extended periods. As a consequence he has no pension from any where. I have always worked too but had to move too as a family. We have saved what we could but unfortunately are somewhat dependent on social security.
Barney Frwanker said the same about Fannie and Freddie, were Harry and Barney conjoined twins at one time?
I grew up knowing that social security would not exist when I would qualify for it. The numbers just didn’t add up. So now…surprise, surprise, congress has screw-up something else. Can’t upset those seniors by tinkering with their money after all, they work the polling stations and they vote! What we really have is a 2 party system where each party tries to prevent the other from doing anything which is good for the country.
Here’s the link to the Offical Government Document signed by Geither, Sebelius, and… hard Left Socialist labor activist and darling of the Communist Party USA, Hilda Solis.
What was previously a figment of the GOP’s imagination is now just another crisis which cannot go to waste.
Maybe he was counting in dog years.
On May 13th, 2009 at 7:29 am, ajmontana said:
“Barney Frwanker said the same about Fannie and Freddie, were Harry and Barney conjoined twins at one time?”
Yes, aj. They were conjoined with thier heads up each others’ ass.
First heard about the impending insolvency of Social Security in May of 1963, from an actor making the rounds on the GE lecture circuit (Ge was a far better company in those days). I still have a copy of that speech
Reagan’s warnings were ignored then, just as these will be.
Love what the dems have done with the trust that they stole from the people. Hey! I’m from the government, and I can help you save money for retirement! What’s next after they run out of SS money? 401K’s and IRA’s? When are we going to kick the government the hell out of our lives and take back control of our own money and markets? I guess when there’s no money left to hand out since no one will be working (since money was just being handed out), people will have to learn the hard way.
Sigh…
Looks like the plan is working!
It frustrates me to no end that Bush decided this reform was the one thing he didn’t want to sail through his lay-down Congress.
Is the Iraq war still lost?
And here I was just thinking we hadn’t heard from Harry Reid in awhile. With re-election coming up, I thought he was keeping a low profile in DC. No such luck.
In all fairness though, Harry didn’t say anything recently that I’m aware of. MM has put the spotlight back on him. Good thing. He needs the exposure and lots of it, especially in Nevada. Those good folks need to make sure Harry stays home to write his memoirs to the best of his recollection. That should be interesting. Maybe he could title it, Harry’s Theory of Liberal Politics or How I Conquered Truth With No Remorse.
So they screwed up Fannie, Freddie, Medicaid, Medicare and Social Security and we are supposed to hand them our healthcare system with that track record?
Well, remember, Harry Reid is the jack-ass who said we couldn’t win in Iraq, just before we did, but he made darn sure we could still lose by prosecuting the public image of the military, as he and Obama-kins are doing by releasing alleged photos of torture. What a brain trust these people are! Let’s kick off more anti-American propaganda, spoon fed by our Dear Leader, so we can see more riots around the world by jihadists who aren’t even advanced beyond the sixth or seventh centuries, or whenever it was they decided to take the sword to anybody who didn’t believe as they did.
Just think of how much you would have if you had been able to keep all that money that was taken from you for SS and invested it on your own.
By the way, I’ll donate $50 to anybody who can beat Harry Reid, and I don’t live in Nevada. And I also don’t normally shell out money for politicians of any description. But this would be such a needful expense if it would be successful!
I supposedly “retire” in 2026. Uhm, I am contemplating which food would be better: dog food or cat food? Between my 401k and my “defunct” SS, I sure won’t be able to afford much else….But hey, Barak Obama’s gonna change ‘da world.
sarcoff
There is no problem that O cannot solve. He can call in a few of his hommies and within a few days there is a solution. He is THE most magnificent human to ever inhabit the earth.
HEIL DA FUHRER
The solution will be to appoint a blue-ribbon bipartisan commission to study the problem and make recommendations that will be ignored by congress. Just like every other president has done for the past 30 years. Nothing substantive will be done except possibly allowing even more teachers and government workers to opt-out as the rest of us watch the money we have been paying in waste away to nothing.
Mandatory euthanasia, problem solved. Oh, wait, I’m one of those seniors.
Once again, reality collides with fantasy, and reality wins. What is wrong with people, especially our Congress and the people who keep sending them back to Washington? You can’t have it all. You never could, and never will.
Yep.
Why not?
Check this out:
http://www.wendymcelroy.com/print.php?news.1326
OH!! MAH!! GOODNESS!!
We need ANOTHER friggin’ bailout!!
IIRC, didn’t the Repubs lose the Senate in the 1980s for bringing up soc sec reform? Like 1986? Then old people said in 1996 “I’m not voting for Dole — he wants to take away my Social Security!”. And then Bush II brought it up most recently. Demagogued every time by the Dems. Irresponsible.
Dobby the house elve is a festering pustule that needs to be excised from the bewtocks of society! Other than that, I have no strong feelings about it.
The USSR basically just cracked up. Could that happen to the US soon?
Typical Obama manipulations: THE SKY IS FALLING, THE SKY IS FALLING! WE MUST HURRY..HURRY…HURRY. And thank ALLAH we have Obama to save the freakin day!
He farmed out the math to Timmy.
I meant Tommy.
I agree there is a future problem with SS. But, again this is a right hand left hand scare tactic to give this administration an excuse to overhaul the SS fund and create a more socialistic platform. Just as every other scare tactic this admin is using to keep the public scared. It is easy to implement a new kind of government if the people are scared!
Hitler did this in Germany. The jews were the first to be scared and and denied their civil rights!
Pay Attention People!
Timmy works also John. lol
So estentualy he is admitting Bush was right.
Has moveon.org called for his impeachment yet?
I’m here to tell you all that we need not worry about Social Security. O’s health care plan will take care of the entire problem.
As Professor Stuart Altman told the Senate Health Care Committee, we have to weigh the benefits of treating the elderly and one of the benefits of NOT treating them is the solvency of the Social Security “giant Trust fund”.
Our Social Security
Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:
1.) That participation in the Program would be completely voluntary,
2.) That the participants would only have to pay 1% of the first $1,400 of their annual incomes into the Program,
3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,
4.) That the money the participants put into the Independent “Trust Fund” rather than into the General Operating Fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and,
5.) That the annuity payments to the retirees would never be taxed as income.
Since many of us have paid into FICA for years and are now receiving a Social Security check every month — and then finding that we are getting taxed on 85% of the money we paid to the Federal government to “put away” — you may be interested in the following:
————————————————————-
Q: Which Political Party took Social Security from the Independent “Trust Fund” and put it into the General fund so that Congress could spend it?
A: It was Lyndon Johnson and the democratically controlled House and Senate.
——————————————————————–
Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?
A: The Democratic Party.
———————————————————————–
Q: Which Political Party started taxing Social Security annuities?
A: The Democratic Party, with Al Gore casting the “tie-breaking” deciding vote as President of the Senate, while he was Vice President of the US.
——————————————————————-
Q: Which Political Party decided to start giving annuity payments to immigrants?
AND MY FAVORITE:
A: That’s right!
Jimmy Carter and the Democratic Party. immigrants moved into this country, and at age 65, began to receive Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!
————– ————————– ——————————
Then, after violating the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away!
And the worst part about it is uninformed citizens believe it! (And now they don’t want most retirees to share in the rebates to help the economy!)
If enough people receive this, maybe a seed of awareness will be planted and maybe changes will evolve. Maybe not, some Democrats are awfully sure of what isn’t so.
But it’s worth a try. How many people can YOU send this to?
Actions speak louder than bumper stickers.
AND CONGRESS GIVES THEMSELVES 100% RETIREMENT FOR ONLY SERVING ONE TERM!!!
A government big enough to give you everything you want, is strong enough to take everything you have.
-Thomas Jefferson
Hey, no problems here. Obama won’t be around in 2037 so let’s party like it’s 2099!
The new health care program is the solution to fixing social security and medicare.
Old people are living too long. Deny them health care, they die.
Problem fixed
#55 – You don’t really believe the Democrats and Liberals are interested in facts do you?
Socialized medicine and eugenics will solve the problem. NAZI Germany would be proud.
Watch Soylent Green — Ration and kill off the old and abort the fetuses.
Sorry my mistake I don’t know what I was thinking!
An article I wrote on ModCon and what will happen to our elderly under Obamageddon.
Obama’s War Against The Elderly
Ok, I am now convinced Obama is the Messiah and he is the second coming of Christ. Christ could heal the lepers, walk on water and turn water into wine. Our new Messiah, it seems, is no less powerful. He has the power to say who gets a home, a job, who lives and who dies. Obama has expanded his reach and has now waged war against the elderly in our Country with his deceptively named stimulus (spending) plan to save Americans that can’t save themselves.
His plan has all of the makings of a classic Hollywood horror movie complete with an introduction of its characters, a plot and an ending. In this case, the horror movie is Obama’s creation of our very own socialist healthcare program. Truly horrifying!
Let’s meet the cast. First, we have the new healthcare czar and the 21st century Information Technology communication. Regardless of how one feels about the plan to computerize our healthcare communications, a shiver should go up every spine. When the federal government says they will pay for this technology out of our taxes, one has to wonder about the real motivation. The government never pays for anything unless they have a stake in the process.
We’ve met the lead in this movie, now on to the plot. We now have our HAL 2001 and the federal government has invested (with our money) the communications they need to implement the long arm of the government into our personal medical files. Why? Because now the federal government will be paying for our healthcare (out of our money) and as Obama said in his first press conference “There’s No Such Thing as a Free Lunch”. He campaigned on the assurance that ANYONE that already has insurance wouldn’t be affected and yet that is most assuredly not what the bill says.
Our new healthcare czar’s job will be to determine who lives and who dies all on our own dime. Let’s look at two patients, patient A (70 years old) and patient B (45 years old) go into the hospital for bypass surgery. Our new czar will determine by age and cost which has more efficacy. HHHHMMMM, I believe patient B has won this by a furlong.
Are you covering your eyes yet????
We arrive at the ending of our bad horror movie. Obama and his followers have decided that it is not efficient to provide care for patient A because of the cost and life expectancy. Per Sen. John Fleming (R) LA, the new legislation in this fear mongering stimulus (spending) bill states “At what point IN LIFE they receive certain treatments and what is acceptable and not acceptable for payment”. This is decided by our healthcare czar from our medical records, records the federal government now controls.
The moral of the horror movie: Our government has taken on the sheen of very injustices our Founding Fathers fought to destroy. We have laws that have been enacted under our constitution to prevent this from happening. The 1st, 4th, and 5th amendments are for the rights of privacy which will be grossly destroyed by allowing the federal government to have access to our medical records. Under the 14th amendment, we have the 1964 Civil Rights Act that provides us as a people that “NO state shall make or enforce any law which shall abridge the privileges or immunities of the citizens of the United States [or] deprive ANY person of LIFE, LIBERTY or PROPERTY without due process [or] deny to any person within it’s jurisdiction the ‘Equal Protection’ of the laws.” And yet it seems that this new bill to commit genocide against our elderly by deciding who lives and who dies. Discrimination starts when you don’t abide by the very principles of our Civil Rights to prevent discrimination based on a person’s Race, Sex, Religion, Age, Previous Conditions of Servitude, Physical Limitation and National Origin.
This is a complete violation of everything America stands for and the Human Rights we seek to protect around the world.
One must ask, what powers under our constitutional branches provide Obama and his followers to decide this when it goes against every principle of our nation? Could this be foreshadowing to the ultimate horror movie ending and a tactic to lower our Social Security benefits by killing off our elderly? If you’re elderly or have elderly parents you may want to STOP and think a moment about the implications of this legislation, that was slipped into the stimulus bill under the cover of darkness by the very people we elect to protect us! Scary indeed!
Obama’s two most beautiful words in the English language:
TAX. . . . SPEND.
Obama’s most secret thought shared with himself:
Damn I look good in this mirror!
First thing on Obama’s weekly priority list: Guest list for cocktail party.
Obama’s secret hidden fear: Damn, I hope this Air Force One thingee doesn’t wear out on me.
Obama’s most confusing problem: Why can’t the Bureau of Engraving and Printing get those presses to run faster?
reid at his very best is a moron, the idiot is a total waste of dna.
the giant trust fund will be depleted by 2037
What, someone will burn the pile of IOUs during that year? Because from where I’m sitting, a stray spark could empty the “trust fund” tomorrow.
When will we see a new deduction column on our paystubs for Reparations?
If it’s Rocco and Guido doing the beating, I’ll pitch in another $50.
Thnak you, MM, for reminding everyone that while President Bush’s administration had their priorities straight in wanting to fix SS & Medicare, Harry Reid and the pro-Dem media did not; for them, it was all about politics.
Does anyone see the coincidence of SS going broke and the coming of rationed health care? Does BIG GOVERNMENT have any motive to thin out the elderly population?
Why is that too horrific a question to ask, given what we have seen and know from the last few months?
When will we refuse to be eaten?
Harry “Fairy” Reid is one of the most useless people on this planet. It is bad enough that this guy? has been elected by the people to enact laws. It is worse that he has a love crush for Pelosi.
And so it came to pass…
The sheeple, especially the elderly, saw fit to vote for candidates that would “better” their lives. Their unions, such as AARP, drove more and more people into the mindset of Social Security and Medicare. With so many, AARP and others formed such a loud and active electorate that primarily helped themselves and not the rest of the population or country. The voting power of this bloc became so great that discussing any reforms became a “political third rail” – deadly to the touch. So most politicians stuck their heads in the sand or danced a fast shuffle away from the ever-growing problem, hoping they would be retired from their powerful positions by the time the reality bomb went off. Until then, politicians gained power by finding a common thread among the elderly, primed their fears, then gave them a big syringe full of benefits. The addiction was set…
The (not so) funny thing about the above narrative is that by changing a few words around, one could substitute the elderly for blacks, women, gays, hispanics, etc. What the DC Beltway gang has done is to alienate Americans, allowing them to think of themselves as whatever minority or special interest they belong to as paramount before they consider themselves the citizens of a great country. Our population is addicted to whatever they can get for free from the government (entitlements).
And yet we still vote for these snake oil salesmen and three-card monte street hustlers…
Bernie Madoff is going to spend the rest of his life in prison for copying social security’s business model.
***
A great post by XLER8BMW–#55–on the reality of the SS Ponzi Scheme. Many people do not understand the basic facts–this post was very clear and concise.
***
More Ponzi schemes–Medicare and Medicaid. Liberals / socialists / marxists / communists always set up something that will not work in the long term–they will steal more to “fix it” later.
***
So what is their plan–SET UP SOME MORE PONZI SCHEMES! Nationalized health care, etc. It’s like watching a drunk try to cure himself of the DT’s by drinking more.
***
HOPE AND CHANGE you can (t) believe in. Coming soon to the new U.S.S.A.
***
John Bibb
***
Harryreid the redeless strikes again!!!
Just saw Oblahma talking on Fox news. He said that the #1 reason for ever-increasing debit and debt was healthcare. Funny…I thought it was the government spending trillions of dollars of our money. What a con artist. Put us in debt, declare a debt crisis, blame it on healthcare, push a socialist healthcare program down our throats. It’s one thing to take advantage of a crisis, but quite another to create a crisis to take advantage of.
My dad is 74. My prayer is that I won’t ever see the day that the government decides that it’s not profitable to keep him alive.
Liberals should avoid using words they don’t understand — such as “reality”.
soilant green, dawg!
Not only that Patronedheart, but Obama also said he intends to ram through his “comprehensive health care reform” by July 31st & has set San Fran Nan to work on it. (another goodie like the last thing she came up with). We are worse than scr*wed.
Seems to be his MO, babble. This is a “crisis” that has to be fixed as quickly as possible before it gets worse (or someone realizes what a terrible idea it is). If I made hasty decisions like this in my own life, I’d end up having to depend on the government to bail me out.
Too bad all of this will only be spun as “George Bush’s Fault”. Had he not been more forceful with Congress, this would have been taken care of years ago /sarc. Now Super Harry and the Dems will have to swoop down and save SS.
ONLY if we put up with it.
ONLY if we lay down, and do nothing effective to stop this.
Iamsaved – My liberal cousin has already this morning blamed this whole thing on Boosh & his tax cuts for the rich, BUT she still claims there is enough social security money for her to collect for the next 30 years at which point she will be 100 & won’t care any more. (Only for the Dems? Maybe they plan to kill off all the conservatives, ya think?)
RAGS – so what CAN we do to stop it?????
the only good thing is that the young people, who voted for obama overwhelmingly, will be paying the price!!
ameriKKKa’s chickens, coming home to roost!!
bush never cut social security taxes..
I suggest an organized, coordinated, and broad-based tax boycott. Civil disobedience in the pure form. Up front, direct, public.
STARVE THE BEAST. Refuse to be eaten.
this is so depressing … as a 25 year old i worry about what we are going to have left … i want to scream every time i see/hear/catch a whiff of these libs … next election cycle just hold a 2 hour event where these quotes and clips are run one after the other showing just how insane this is getting
Permanent control. Yup, that’s it.
you first. we’ll know you actually have when you stop posting…since they don’t have internet access in prison…
Not to worry. If the Left has its way, the Left will be all that is left and you will become a part of the borg, er, leftist collective…resistance will be futile!