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TrollBuster9090

(5,954 posts)
8. Presumably the same way ANY of our debt obligations will be redeemed.
Thu Dec 27, 2012, 09:57 PM
Dec 2012

Either through one or a combination of the methods on your list, OR another option.

My point was that the money we borrowed from our Senior Citizens' pension fund shouldn't be treated any differently than any of the money we borrowed from any other source. So, whatever method you or anybody else proposes to pay off the 14 trillion we owe to regular bond holders should ALSO apply to the 2 trillion we owe to the Social Security Trust Fund.

But if you're asking for my personal opinion, i'd say:

50% from your OPTION 1 (asking the wealthy to pay more)
10% from your OPTION 3 (inflating the currency, which is not always a bad thing, depending how it's done. We are in ABSOLUTELY NO DANGER of hyperinflation, so please don't give credence to any right-wing talking points about Weimar Republican Germany or Zimbabwe.)
and
40% through encouraging economic growth by a) re-writing the tax code eliminating loopholes and outsourcing incentives, and encouraging small business expansion, b) government funded energy development, particularly geothermal...leading eventually to a new 'cheap energy' economic boom, and c) re-organizing government involvement in the economy to favor policies with the highest multiplier effect. ie-TAX CUTS have a very low multiplier effect, while govt. programs like FOOD STAMPS actually have a VERY HIGH multiplier effect. But the political rhetoric is backwards, where politicians get the most bang for their buck by pushing for tax cuts over food stamps; when in fact economic growth policy prescribes exactly the reverse. We need a concerted effort to promote REAL ECONOMICS in our political rhetoric. If that means promoting the idea of putting more REAL ECONOMISTS on TeeVee as 'pundits,' so be it.

Did you seen MEDIA MATTERS' piece on this? The networks have spent MONTHS blathering about 'The Economy' without asking ONE SINGLE F-ING ECONOMIST for their opinion! If we could somehow encourage a REAL debate/discussion on REAL economics, rather than this fake, political economics, we definitely wouldn't be in the mess we're in right now. Because every REAL economist knows that AUSTERITY is exactly the OPPOSITE of what we need to do to dig the economy out of its current rut.

http://mediamatters.org/blog/2012/12/13/economists-and-economics-absent-from-media-cove/191837

What a jerk. zeemike Dec 2012 #1
The lesser people... you know former_con Dec 2012 #2
Simpson is a master of rhetoric appealing to the young and the poor, while simultaneously screwing TrollBuster9090 Dec 2012 #9
Overconfident, bragging thieves have earned... BlueNoteSpecial Dec 2012 #40
Frankly, I lost track of how many lies he told there. TrollBuster9090 Dec 2012 #13
Did I hear wrong??? Plucketeer Dec 2012 #32
Excellent analogy... you heard it right... former_con Dec 2012 #35
May I post your analogy elsewhere? n/t bitchkitty Dec 2012 #43
Sure thing! Plucketeer Dec 2012 #44
So customerserviceguy Dec 2012 #3
Presumably the same way ANY of our debt obligations will be redeemed. TrollBuster9090 Dec 2012 #8
I like many things about Simpson, but he has this thing about Social Security, Honeycombe8 Dec 2012 #4
Thanks for expressing this so clearly. h2ebits Dec 2012 #5
Thank you! There's an equally clear solution. Remove the payroll tax cap. TrollBuster9090 Dec 2012 #19
Alan Simpson's version of the 47%. Lesser people. hay rick Dec 2012 #6
In fact, we know what the attitude of the elites is. TrollBuster9090 Dec 2012 #20
Rick's Burgers, in Spokane, hasa Whammy, a Double Whammy, and a Triple Whammy. jtuck004 Dec 2012 #7
Hah! Good point. TrollBuster9090 Dec 2012 #11
The largest holder of U.S. debt is its citizens Samantha Dec 2012 #10
All very true! It's even MORE clever than Norquist's 'starve the beast' strategy. TrollBuster9090 Dec 2012 #30
Those "IOUs" are US Treasuries, the epitome of security. Zen Democrat Dec 2012 #12
Exactly. UNLESS somebody is trying to float the idea that money owed by STATE governments to TrollBuster9090 Dec 2012 #15
Then why did RWers mock Gore for the SS Lock-box idea in 2000? nt ErikJ Dec 2012 #14
Better yet...why did they elect THE SHRUB when Gore was promising to use Clinton's budget surplus TrollBuster9090 Dec 2012 #17
Sometimes so-called conspiracy theories are just the truth. savannah43 Dec 2012 #16
Well, I'm a bigger fan of Occam's Razor. TrollBuster9090 Dec 2012 #18
"Why assume conspiracy when incompetence will do?" FiveGoodMen Dec 2012 #38
If they decide not to honor the Treasuries that SS holds Angry Dragon Dec 2012 #21
Iceland style! I like it! TrollBuster9090 Dec 2012 #26
The Social Security trust fund wouldn't be full of IOUs WhoIsNumberNone Dec 2012 #22
Simpson is about as bright as Jessica. AAO Dec 2012 #23
We are at a point, where the choice is Social Security or defense, and he refuses to cut defense. happyslug Dec 2012 #24
The big Republican Lie, told by a Republican liar and sadly, repeated even here sabrina 1 Dec 2012 #25
The "IOU's" in the Social Security Trust Fund... jjewell Dec 2012 #27
Yes, that would certainly be true if the SS Trust fund asked for the money when the Bonds mature, TrollBuster9090 Dec 2012 #28
What a clear view hodger Dec 2012 #29
Thank you! TrollBuster9090 Dec 2012 #31
Fantastic post Left Turn Only Dec 2012 #34
Hows that song go? Plucketeer Dec 2012 #33
It's all in t-bills. Republicans default on one single t-bill Warpy Dec 2012 #36
The SS Trust Fund could provide a written statement (like a bank statement) of borrowers and DhhD Dec 2012 #37
Bonds to China joetubes Dec 2012 #39
IOUs? paleotn Dec 2012 #41
What a creep. Quantess Dec 2012 #42
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