Obama and Romney hit the final stretch

[stinkcat_14]

FIrst, a disclaimer: I think it is a classic Ponzi scheme.

People at the top of the pyramid get their earnings, not from their investments, but from the payments from the people at the bottom of the pyramid, while the promoter siphons off any excess and keeps it for himself.

It inevitably fails when there are not enough new investors are found to sustain the payments due to those who expect earnings.

With that in mind, I think that the design of the old age fund is supposed to resemble an insurance plan. If you pay enough premiums (40 quarters), you are supposed to collect a payment throughout your old age.

The problem, like with the pyramid scheme, is that there aren’t enough people paying premiums to satisfy the demands of those who are promised payments. And, well, there isn’t much way that they will be able to sell their “securities” back (and receive the cash back from the Treasury) – that source is flat broke.

Which of course is what happens when more people are in the wagon than are pulling the wagon.

The other thing about social security is that it was originally set up like an insurance policy. You paid in, but if you didn’t make it to 65 you didn’t get anything. And when it was set up, about half the people were expected to die before collecting benefits. Now very few people die because the government never adjusted the age appropriately to take into account increased life expectancy. Which is why the government never should have become involved in the first place.

 

[Scott_Lafrance]

Oh yes, he was very successful at laying people off and sending their jobs to China.

Obama has been successful in overseaing an economy that has laid off millions and subsidized their unemployment with entitlement money.

 

[St_Francis]

FIrst, a disclaimer: I think it is a classic Ponzi scheme.

People at the top of the pyramid get their earnings, not from their investments, but from the payments from the people at the bottom of the pyramid, while the promoter siphons off any excess and keeps it for himself.

It inevitably fails when there are not enough new investors are found to sustain the payments due to those who expect earnings.

With that in mind, I think that the design of the old age fund is supposed to resemble an insurance plan. If you pay enough premiums (40 quarters), you are supposed to collect a payment throughout your old age.

The problem, like with the pyramid scheme, is that there aren’t enough people paying premiums to satisfy the demands of those who are promised payments. And, well, there isn’t much way that they will be able to sell their “securities” back (and receive the cash back from the Treasury) – that source is flat broke.

Thanks for this good explanation, Mark.

So, if people had continued to have children at around the same rate that they were having children back then, as a Ponzi scheme, it would work, right?

And oddly enough, I just realized this is exactly like Obamcare…

 

[stinkcat_14]

The government is not some entity “out there,” the government is *us. *

It has the same effects. It encourages laziness and irresponsibility. It punishes workers. Its recipients also think they are “entitled” to the money, although no taxpayer has a moral responsibility to provide this welfare.

 

[stinkcat_14]

So, if people had continued to have children at around the same rate that they were having children back then, as a Ponzi scheme, it would work, right?

.

No.

 

[Luigi_Daniele]

No.

Well, yes. If everyone had 16 kids.

 

[EmperorNapoleon]

Obama has been successful in overseaing an economy that has laid off millions and subsidized their unemployment with entitlement money.

There are 3.9 million unfilled jobs in this country. People have no one to blame but themselves.

 

[Scott_Lafrance]

The government is not some entity “out there,” the government is *us. *

The government hasn’t been us for a LOOOONG time. It is bought and paid for by corporations, unions, investment banks, and other special interests. It sounds good and alot of people make themselves feel better by telling themselves that, but I think deep down, most people know better.

 

[Scott_Lafrance]

There are 3.9 million unfilled jobs in this country. People have no one to blame but themselves.

The “Employment Participation Rate” has fallen every month since Obama has been in office and currently sits at 63.4% of the total workforce. There are 88 MILLION people not in the labor force, so even if we filled all 3.9 million jobs, there would still be 84 million unemployed. THat number of unemployed is UP 2.5 million from the same time last year.

DOn’t like my numbers, argue with the Bureau of Labor Statistics.

bls.gov/news.release/pdf/empsit.pdf

 

[markomalley]

Thanks for this good explanation, Mark.

So, if people had continued to have children at around the same rate that they were having children back then, as a Ponzi scheme, it would work, right?

And oddly enough, I just realized this is exactly like Obamcare…

Yes, in theory it would.

Also, had they actually ***invested ***surpluses in previous years (much as commercial business’ retirement funds are required to do), rather than just moved the money from one hand into the other (and then spent it after it hit the other hand), the problem would have been greatly mitigated. (Held off for many decades, at least).

Think about it, There are 56 million people who are getting some variety of social security payment (either OASI or DI payments).

 

[ProVobis]

The government hasn’t been us for a LOOOONG time. It is bought and paid for by corporations, unions, investment banks, and other special interests. It sounds good and alot of people make themselves feel better by telling themselves that, but I think deep down, most people know better.

Precisely.

From a look at Romney’s contributors,

opensecrets.org/pres12/contrib.php?id=N00000286

it doesn’t take a lot of genius to realize what his priorities will be as President.

But even though I would stand to gain financially if Romney were elected, owning bonds in GS, BAC, MS, etc., there is no way in good conscience I can vote for the guy.

 

[EmperorNapoleon]

The “Employment Participation Rate” has fallen every month since Obama has been in office and currently sits at 63.4% of the total workforce. There are 88 MILLION people not in the labor force, so even if we filled all 3.9 million jobs, there would still be 84 million unemployed. THat number of unemployed is UP 2.5 million from the same time last year.DOn’t like my numbers, argue with the Bureau of Labor Statistics.

Pay attention to the numbers. Of that 88 million only 5 million even want a job. In the future, I wouldn’t recommend trying to use retirees and the rich to bump up your claims.

 

[St_Francis]

Yes, in theory it would.

Also, had they actually ***invested ***surpluses in previous years (much as commercial business’ retirement funds are required to do), rather than just moved the money from one hand into the other (and then spent it after it hit the other hand), the problem would have been greatly mitigated. (Held off for many decades, at least).

Think about it, There are 56 million people who are getting some variety of social security payment (either OASI or DI payments).

I see Thanks so much!

 

[Caldera]

Paul Ryan: How Conservatism Helps the Poor

Ryan’s argument unfolds in seven steps:

1. Define and reclaim the mantle of the American Dream. “We are here in partnership on behalf of an idea—that no matter who your parents are, no matter where you come from, you should have the opportunity in America to rise, to escape from poverty, and to achieve whatever your God-given talents and hard work enable you to achieve.” Given the left’s efforts to redefine the dream redefine the dream along statist and egalitarian lines, this is crucial.
2. Recognize the obstacles that many face. “Too many children, especially African-American and Hispanic children, are sent into mediocre schools and expected to perform with excellence.… There is something wrong in our country when 40 percent of children born to parents in the lowest fifth of earners never know anything better.… In this war on poverty, poverty is winning.” In other words, don’t make the mistake of assuming that because the left’s claims about poverty in America are wildly overblown, everything must be fine and dandy.
3. Big government doesn’t help the poor. “With a few exceptions, government’s approach has been to spend lots of money on centralized, bureaucratic, top-down anti-poverty programs. The mindset behind this approach is that a nation should measure compassion by the size of the federal government and how much it spends. The problem is, starting in the 1960s, this top-down approach created and perpetuated a debilitating culture of dependency, wrecking families and communities.”
   …
   Read the rest:
   blog.heritage.org/2012/10/25/paul-ryan-how-conservatism-helps-the-poor/

 

[St_Francis]

Which of course is what happens when more people are in the wagon than are pulling the wagon.

The other thing about social security is that it was originally set up like an insurance policy. You paid in, but if you didn’t make it to 65 you didn’t get anything. And when it was set up, about half the people were expected to die before collecting benefits. Now very few people die because the government never adjusted the age appropriately to take into account increased life expectancy. Which is why the government never should have become involved in the first place.

Ah, good, you finally said something I can agree with

 

[MJE]

This is a new ad from Obama for America. You tell me if this is Main Street America?
Between Sandra Fluke. this Obama for America ad & the HHS mandate there is something both dark and vulgar w/ B. Obama et al.
Here is the transcript:
Your first time shouldn’t be with just anybody. You want to do it with a great guy. It should be with a guy with beautiful … somebody who really cares about and understands women.
A guy who cares about whether you get health insurance, and specifically whether you get birth control. The consequences are huge. You want to do it with a guy who brought the troops out of Iraq. You don’t want a guy who says, “Oh hey, I’m at the library studying,” when he’s really out not signing the Lilly Ledbetter Act.
Or who thinks that gay people should never have beautiful, complicated weddings of the kind we see on Bravo or TLC all the time. It’s a fun game to say, “Who are you voting for?” and they say “I don’t want to tell you,” and you say, “No, who are you voting for,” and they go, “Guess!”
Think about how you want to spend those four years. In college age time, that’s 150 years. Also, it’s super uncool to be out and about and someone says, “Did you vote,” and “No, I didn’t vote, I wasn’t ready.”
My first time voting was amazing. It was this line in the sand. Before I was a girl. Now I was a woman. I went to the polling station and pulled back the curtain. I voted for Barack Obama.
video breitbart.com/Big-Government/2012/10/25/HBO-star-ad-Obama-voting-first-time-sex
Brought to you by Malia & Sasha’s father (& mother?) & friends.

 

[tabycat]

I think you missed the point.

Abolishing the Electoral College and going to a direct vote does not mean we turn into a Democracy of mob rule. There will still be a Representative Government and a Supreme Court (although it would be smart to put some sane term limits on both those bodies) but it just means that the people will directly vote into office the President rather than having an “Elector” think they know better than We the People.

We already have a way to have term limits on Congeress; its called voting the bums out!:shrug:

 

[Schmoo]

Not if they paid into it then no. If they didn’t… yes.

So you agree that Social Security recipients are the receivers of stolen goods?

 

[St_Francis]

There are 3.9 million unfilled jobs in this country. People have no one to blame but themselves.

Where are these jobs?

Pay attention to the numbers. Of that 88 million only 5 million even want a job. In the future, I wouldn’t recommend trying to use retirees and the rich to bump up your claims.

Where do you get your 5 million number? There are 12.5 million people out of work who are actively looking for work. Your 3.9 million jobs will give only one-third of them jobs, and as to the other 11 million who would normally be working or looking for work, won’t help them at all.

Year…# 16+…Total …Labor F part…Employed … % …Unem…Unemp%***
2007 …231,867… 153,124 …66.0 …146,047 … 63.0 …7,078 …4.6

7/12…243,772…154.6xx…63.5…143,126…58.3…12,xxx…8.1
…(Sept.)

What does this show? That altho there was an increase in the number of people who were “eligible” to be in the labor force of almost 12 million people, there was an increase in jobs of only around 1 1/2 million. Our current labor force participation is lower than it was in *1980. *

So, there are 11 million people who would, according to trends dating back 30 years, would have chosen to work. *And *there were 12.5 million people considered unemployed, that is, not working but looking for work. And who knows how many are considered employed, but who are not working at the level they were working at, working part-time instead of full-time, etc.

11 million homes are underwater (now). 1.5 homes are *in *foreclosure.

*This is the percentage of the US non-institutionalized population over 16 which is employed.

**This is, of course, as a percentage of the labor force.

 

[exoflare]

My first time voting was amazing. It was this line in the sand. Before I was a girl. Now I was a woman. I went to the polling station and pulled back the curtain. I voted for Barack Obama.
video breitbart.com/Big-Government/2012/10/25/HBO-star-ad-Obama-voting-first-time-sex
Brought to you by Malia & Sasha’s father (& mother?) & friends.

I saw that commercial too and as trashy as it is, I’m glad it will only serve to put people off aside from the most hardcore libs who didn’t need convincing anyway.