McConnell is such a puke

PostmodernProphet said:
/shakes head.......when the government pays back a government security, what do they use to pay it.......this conversation began because you said idiots said the SS security fund and Medicare had zero to do with the general fund.........every single penny that is owed on government securities has to be collected as taxes and paid to the bond holder THROUGH THE GENERAL FUND!.........
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You don't put money in the bank do you? because poof it is gone. Do you think they have that money in a cellar? Why no, that is not how economics works. Not how banking works. Not how anything works. Thinking is tough for you. All banking and finances is on a trust basis.
Oh yeah, that 3 trillion was given to the government in exchange for bonds. That is how all bonds work. THET TAKE MONEY AND PAY BACK LATER.THE REAL CURRENCY IS THE FULL FAITH AND TRUST IN THE GOVERNMENT. That is what all government transactions are relying on. Every single thing the government does is paid by taxpayers.
The money the defense department spends is also just a hit on the treasury. There is no huge money supply. it is all promisory notes.
 
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Nordberg said:
PAY BACK LATER.
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where do they get the money to pay it back later?.....do you think they perhaps collect taxes?.......do you think perhaps the government will have to collect enough taxes to pay off the bonds?......do you think you will perhaps have to pay those taxes?......or do you still think that there is zero connection between the general fund which handles the collection of taxes and the paying of bonds and social security?......
 
CHarlie Rose's interview with McConnell was actually interesting. I assume it is still out there on the internet somewhere despite the #MeToo nonsense.
 
Mcconnell announced after Obama was elected his job was to make him a one-term president. He and a few other right party members met on inauguration day and agreed to absolutely sabotage Obama. They would fight everything he tried to do, no matter what. they would filibuster like it had never been done before. They would vote in bloc against anything Obama tried,. They would fight and pigeonhole every single judgeship and nomination Obama offered. He is an absolute dick. Mitch is one of the reasons our senate is at a standstill.He is a big reason we have such brutal partisanship.
 
PostmodernProphet said:
where do they get the money to pay it back later?.....do you think they perhaps collect taxes?.......do you think perhaps the government will have to collect enough taxes to pay off the bonds?......do you think you will perhaps have to pay those taxes?......or do you still think that there is zero connection between the general fund which handles the collection of taxes and the paying of bonds and social security?......
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yep, they pay it back. What would be worse is if they did not. Since all the government runs on is tax money, you would be correct. they pay back tax money. What else? they can produce more money and inflate. that causes other problems. What do we use to buy weapons? tax money. That is all we have.
The baby boomers gave the money to the Social security fund. Now they are getting it back.
 
Nordberg said:
yep, they pay it back. What would be worse is if they did not. Since all the government runs on is tax money, you would be correct. they pay back tax money. What else? they can produce more money and inflate. that causes other problems. What do we use to buy weapons? tax money. That is all we have.
The baby boomers gave the money to the Social security fund. Now they are getting it back.
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YOU will pay it back.....with your payments the general fund.......which is why you were an idiot for claiming there is zero connection between the general fund and the SS fund.........
 
Nordberg said:
Mcconnell announced after Obama was elected his job was to make him a one-term president. He and a few other right party members met on inauguration day and agreed to absolutely sabotage Obama. They would fight everything he tried to do, no matter what. they would filibuster like it had never been done before. They would vote in bloc against anything Obama tried,. They would fight and pigeonhole every single judgeship and nomination Obama offered. He is an absolute dick. Mitch is one of the reasons our senate is at a standstill.He is a big reason we have such brutal partisanship.
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and the demmycrats are the other reason.......
 
Nordberg said:
Do you believe that? of course, you do. The money was put into government securities, the safest investments in history. You are such a right-wing sucker buying everything, absolutely everything the right throws your way. Thinking must be real tough for you.
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You are correct. The Social Security trust fund has $2.5 trillion in securities. Those funds are being used to pay the shortfall between SS revenues and expenditures. But, to pay that shortfall, the trust fund must redeem some of those securities which it can only do by borrowing.

That means the original meme is incorrect because to pay current SS obligations increases the debt. That is why when the government shuts down because of failure to raise the debt ceiling the government cannot pay SS benefits. SS is governmental debt rather than public debt because the SS trust fund holds that debt.

Congress did not take the money from the SS trust fund. The original SS law required any surplus to be placed in special treasuries at 2% interest.
 
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