It is simple. A worker makes an insurance payment to the social security INSURANCE fund. The fund invests the money in US Treasuries. The government pays back the money plus interest. That is how medical insurance, auto insurance and life insurance work. The premiums paid are invested. The Social Security "insurance company" chooses to invest in treasuries which are safe rather than in the stock market where Republicans want us to invest. Insurance companies never have as much cash on hand as they have out in insurance policies, they have a reserve.
It is sad our elected representatives would not consider defaulting on our debt obligations placed through the fed, but don't feel similarly about defaulting on obligations they made to workers in America for the last 50 years.
6 days ago...... mind you
Heavy rain on Monday pelted Japan's northeast region which was devastated in the March 11 earthquake and tsunami, adding to radioactive contaminated water at the crippled Fukushima nuclear power plant.
The level of water in the basement of one of the atomic plant's six reactor buildings rose by nearly 20 centimetres (eight inches) in 24 hours by early Monday, the facility's operator Tokyo Electric Power Co. (TEPCO) said
Almost everywhere we turn we see contradiction in people's positions on a wide range of issues. Polls show that almost everyone was for the war in Iraq but a far smaller % are for the taxes that would pay for it. They prefer to believe that government is so wasteful, not because they know for sure but merely because they've been told it is – an erroneous meme that is in perfect harmony with the idea that the entire problem is a type of person inferior to them. It’s surprisingly easy to co-opt people in that way.
Collier County, Florida -- Have you heard the one about a homeowner foreclosing on a bank?
Well, it has happened in Florida and involves a North Carolina based bank.
Instead of Bank of America foreclosing on some Florida homeowner, the homeowners had sheriff's deputies foreclose on the bank.
It started five months ago when Bank of America filed foreclosure papers on the home of a couple, who didn't owe a dime on their home.
The couple said they paid cash for the house.
The camp whose name was Sparta,
perched high upon the scrub,
was the hottest place in Florida,
with showers and nary a tub.
And there we sang and made our beds,
learned to swim and shoot,
as carefree as our Congress
who doesn't give a hoot.
But should we put them in those cabins,
nailed up screen on wood,
and make them scrub a toilet,
it wouldn't do much good.
If social security is headed down the path of destruction, then I want my money back! I want every dime that I have paid in social security taxes returned with interest! Social Security was a contract made between the people of America with all of the other people of America. It was designed so that we would all support each other.
But things have changed over the years. Some people want to get out of the contract and others want to steal the money in the bank! I want out! And I want my money!
Here in Wisconsin temperatures seem to be peaking about twice a week
Oh well, I guess it's like cigarettes, booze, bad diet, lack of exercise, etc... Humans are just going to live the way we want to regardless of whether or not it is self-destructive
I'm glad I don't have kids
Ok, now we have a problem when even the Republicans are admitting to Global Warming
Join me in wishing a big "go to hell" to kenneth salazzar and the Oil Executives on the President's Energy Commission
Also A Vote for Obama in 2012 is a Vote for GE’s Jeffrey Immelt’s Labor Policies
President Obama needs to appoint progressive judges immediately at the beginning of his next term. We are witness to a truely obstructionist House.We have to provide the president with a majority(preferably filibuster proof) congress.His judges aren't being approved.The Judicial Branch is the unseen power we all have to be aware of.The Supreme Court needs to become more independent.
If the direction initiated by President Jimmy Carter had been continued and improved upon,the rest of the world would be looking at our example;"LIVE BY EXAMPLE"! A green economy would be a lifestyle by now.