The Ghetto Economist on the Deficit Commission.
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As most of you guys are aware the ongoing deficit hysteria induced the President to form a group specifically tasked to provide ” recommendations designed to balance the budget, excluding interest payments on the debt, by 2015″. See here and
here .
We need a balanced budget the way a farmer needs dead crops but that’s another post. I remain very concerned about Social Security. The “worthless IOU’s “ mantra pushed by the Right has become received wisdom, so that many Americans not only assume Social Security is in trouble but could easily be influenced that we need to slash benefits or take other unnecessary measures to save it.
Do any of you guys know of “worthless IOU’s” which pay interest, are totally liquid and are backed by the full faith of the US government ? If you do toss a few my and Dulce’s way. I’m tired of entering and exiting my car from the passenger side and Dulce needs cat treats.
Here is the motley bunch selected to solve our fiscal woes. deficit commission members . There is a brief description of each members views. None of them state the individual is willing to weaken or destroy SS, in the same way that a Yahoo Personals profile typically won’t say “creep looking for unprotected sex who won’t return your calls”. Look them over, all seem pretty innocuous at first. Like the Texan Hensarling, who wants Federal spending capped at 20% of GDP. Probably work out fine during boom times-right now it would send us straight into the “double” part of a double-dip recession.
I don’t think I’m an alarmist. I do think SS is in the cross-hairs. Realistically they’re not gonna raise income taxes or corporate taxes-it would piss off their base. Same as with cutting military spending. They talk a lot about cutting entitlements (Medicare and SS). They won’t touch Medicare, too many lobbyists. IMO that leaves SS. Nobody lobbying for it, plenty lobbying against it-and since payroll taxes don’t affect the wealthy there may be some consensus there. Particularly if the alternative is telling people they’ve got to destroy it in order to save it.
The Ghetto Economist and his lovely assistant Dulce have no economic training but fear a future without SS means a future without Little Friskies for Dulce. The Ghetto economist will instead be eating the catfood.
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The GOP pushed privatization for social security before 9/2008, and were as quiet as the roaches they after it was pointed out that SS would have been wiped out when this so-called recession hit.
I can’t believe these mofos are trying again… but I guess it’s because they really are roaches.
BTW, a plate of kale, a sweet potato, home cooked beans with onions, and a side of Ramen noodles or slice of toast with jam are just as nutritious as cat food, and I think will cost the same.
Kit,
Roaches is the appropriate term, thank you. And I love all the stuff you mentioned, especially sweet potatos which has always stressed my daughters who regard sweet potatos as I regard Republicans.
Not even baked, with brown sugar and butter, like on Thanksgiving? I say feed ’em Purina!
I was my ex-mother in law’s favorite son in law, partly cause I was handy but I think mostly cause I shared her love for camote (sweet potatos).
I was my ex-mother in law’s favorite son in law, partly cause I was handy but I think mostly cause I shared her love for camote (sweet potatos). Didn’t need no butter and sugar even!
You know, I usually say that SS is fine. Bush shot himself in the foot with it himself, but didn’t trot the dead horse out on a cart until AFTER the 2004 election. For good reason – that one dropped like an elevator with a snapped cable. Now, though – the meme of stupidity and delusion has become so prevalent, on the left and the right this year, that now I”m not so sure.
I just think it’s becoming an easy target. example, people say “yeah but the boomers are gonna retire, massive amount of people with less people in the workforce to support them with FICA” and it makes sense. Thing is though, all the models took the boomer retirement into consideration! So it’s not a valid argument. But the Right/Repub groups continue to pound their talking points.
I am firmly of the belief, they need to up the amount that SS funds can be taken from . Say they cap it at I dunno, 150k instead of the what 90k it is right now. More people wuld be paying into the system and it would be solvent right? Is this just my naivete about all things finacial coming through or could this possibly be a plan?
Oh and Dulce, Oso however you want this to go. I personally will not allow the kitty to go without treats. I will get extra when I get them for my own little four legged wonders and mail them off to you. I would also send you gift cards to grocery stores, so you don’t end up eating cat food. Cannot have one of my virt dads eating cat food, while I am sipping Cristal and eating caviar poolside, with the cabana boy.
=^..^=
Jess,
Exactly right, on lifting the cap.I can’t recall the figures, but upping to 150K as you suggest would extend full benefits many years into the future.Seeing as how it’ll pay full bennies for what, 30 more years? lifting the cap would extend it almost indefinitely.
re: treats-I thank you, but more importantly DULCE thanks you!
Okay, now I am confused. Your posts always have the last 2 lines..
“The Ghetto Economist and his lovely assistant Dulce have no economic training but fear a future without SS means a future without Little Friskies for Dulce.”
But you continuously dispense explanations of economic theory and process in a plain understandable manner similar to Elizabeth Warren, who is a Harvard professor.
Since Economics, otherwise known as “The Dismal Science”, often defies logic and common sense, it usually requires an few years before getting that understanding “ah ha” moment.
Because of that, I can only draw this possibility….
You are channeling the subconscious thoughts of Elizabeth by using the telepathic cat powers of Dulce.
Keep up the good work! (however you are doing it)
Oh, I forgot one thing. Whatever you do, don’t explain it by the use of a musical. Trust me on that one.
ROFL thank you Krell!
Dulce has an adapted keyboard to enable her to type, I merely upload pics-a process which bores her. So I think you’ve solved the mystery! Dulce indeed is channeling Elizabeth. She has even been parting her fur to imitate Prof Warren’s hairstyle!
Ah-ha!! So the mystery she has been solved! Dulce you did a fine job and my hat is off to you. Every time I read one of your brilliant pieces I feel as if I learn yet another thing about something I knew little about. Merci…
Mike,
Dulce would thank you if she had any humility. Unfortunately being a cat she think is is her due and expects cat treats.
I really wish I could have another cat. If properly introduced the dogs (well most of them) would accept it, then again, just a few weeks ago they ripped apart a hapless your feral cat who had the misfortune to wander onto their territory. It was sad.
I’ve read this three times. Forgive my ignorance. I’m wondering if the ‘terminology’ is different there to here. To me, social security is a way of looking after those who are unemployed etc etc etc? – not that it actually does over here of course.
After over 35 years of paying taxes, I was entitled to £65 (about $40?) a week whilst being unemployed and training as a driving instructor. Fortunately wifey is on a good wage so the £65 went on a night out once a week.
God knows how people less fortunate than me managed.
Anyroad. I totally agree with you ’cause you love cats and are, therefore, invariably right. If SS is cut then as sure as eggs are eggs, crime will increase as people steal to survive (always assuming they survived in the first place on £65 a week!)
Dulce is a cracker by the way….
fourdinners,
Thank you kindly, Dulce is indeed a lovely girl.
Social Security is social insurance which you can collect at age 65 (62 with some penalties)or if you become disabled and unable to work. Sort of a supplementary retirement program, Employees pay 6.5% (I think)of their check and employers match the sum.The collected taxes are used to purchase US treasury bonds and are parked in a trust fund.
Some politicians want a portion of the money instead allocated to Wall St to be invested on behalf of individual contributors. Not only is this risky, but because SS is social insurance ( working peoples contributions fund those who are retired, as the working folks retire those joining the work force support them thru their contribution) it would effectively destroy the program unless there was a massive tax increase to fund the diverted money.
Actually Mr. Dinner, 65 pounds is about $100 at a current exchange rate of 1.53.
Oso – Let them try to cut my SS, it’s the people who are not getting it that need to be worried.