Sunday, May 22, 2011

Social Security Records Surplus

No wonder Republicans want to end social security; they hate federal programs that work and get in the way of their ideology. I have to admit that, as a kid growing up, and even much later, I did not really appreciate the right wing animosity towards social security. Perhaps that is because they kept their sociopathy to themselves, or because they didn't have nearly enough votes. And to think, they want to turn SS over to Wall Street, the same folks who put the economy in the ditch in the 1980s, first with the S&L scandal, and then the crash of '87, and again in the 1990s with the bubble, and again in 2000's with the still festering housing/mortgage bust. Along the way they have eviscerated 401-k's, pensions, and many IRAs.

So once again, as designed, social security records a surplus.

Today the Social Security Trustees released their Annual Trustees Report for 2011.  The following provides comment and analysis from the Strengthen Social Security Campaign, a coalition of more than 300 organizations representing more than 50 million Americans:  (Click here for a complete pdf of the press release)

“The trustees’ report found that Social Security's surplus will be $69.3 billion in 2011.  Those who say that Social Security is in deficit this year are flat wrong,” said Nancy Altman, Co-Chair of the Strengthen Social Security Campaign. “By law, Social Security cannot deficit-spend and cannot borrow, so it is obvious that Social Security cannot add a penny to the federal deficit.”
“The trustees’ report states that Social Security will be able to pay all benefits for the next quarter century, even without congressional action. Bottom line, Social Security works,” said Eric Kingson, Co-Chair of the Strengthen Social Security Campaign. “Even in a bad economy, Americans continue to receive the full benefits they have earned for themselves and their families. The trustees report makes clear there is no reason to cut benefits—not for today's seniors; not for any generation.

Note that social security does NOT contribute to the deficit and the funds are NOT borrowed.

Put Some Sugar in His Gas Tank While You are at it
Ok, this is not breaking news. But it is an indication of how are leaders are spending their time.  As reported by Yahoo News back in February:
Republicans weren't joking when they said they would go after funding for President Obama's pet programs.

Per Wonkette, GOP Rep. Steve Womack of Arkansas filed an amendment to a House spending bill this week that would have cut funding for the president's Teleprompter. Womack later pulled the amendment because he couldn't find out how much the measure would actually save, but told Fox News he believes he made his point. 

"We're asking people to do more with less, and I think the president ought to lead by example," the GOP lawmaker said. "He is already a very gifted speaker. And I think that's one platform he could do without."
 And what is the point you believe you made, Womack? That you are a petty asshole?
No wonder this government cannot get anything done.

I'm with this guy
Scott McLarty has a post up at OpEd News where he says to "stop calling them conservative." The behavior and policies of today's Republicans would be unrecognizable to most conservatives of the past, including Goldwater.

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