How do you think the US of A should handle their debt?
Forums › General Discussion › How do you think the US of A should handle their debt?-
Also, state unemployment programs are subsidized by the federal government, at least in recent years. It's not a significant driver of the deficit, however.
-
Thumbs Riley wrote:
Yes, by loans. Which states pay back when they have a surplus in the unemployment funds. Due to the natural business cycle.Also, state unemployment programs are subsidized by the federal government, at least in recent years. It's not a significant driver of the deficit, however.
-
★fnord★ wrote:
They're not worthless in the hands of an investor. But for one part of the govermment to owe money to another part of the government is kind of a shell game. If Social Security is going to provide benefits, the federal government is still going to have to come up with additional revenue. It's not already paid for.A Treasury Bill is an IOU in the same sense that paper money is, backed with the full faith and credit of the United States. If anyone has some worthless IOU T-Bills they don't want, I'd be happy to take them off your hands for pennies on the dollar. You know, since they're just IOU's lol.
-
Thumbs Riley wrote: Non-discretionary simply means that UNLESS CONGRESS CHANGES THE RULES it can't be cut. It can and will be cut (either by decreasing benefits or delaying eligibility) or taxes will be raised to cover the difference. It's not sustainable over the long haul in its current form because of simple demographics. Similarly, an entitlement is something the government has to give you - unless it changes the rules.
SS won't be cut. Congress makes the rules, right? So do you think they would all get together and say "hey everybody, let's alienate a significant portion of our supporters." Not likely. People don't generally cut off the hand that feeds them. Look how well greece reacted to the prospect of cutting their retirement benefits. -
we could have a garage sale. im sure there are some 3rd world dictators who would buy some used f-16's.
-
ℜagɳar Loðbrók wrote:
👍👍Stop spending much!
-
★Λddi★ wrote:
Yes I know SS is funded by payroll taxes, taxes on working people's wages, ect. That "trust fund" you are talking about is a fraud like thumbs said before. I'm not just talking about SS, I'm talking about all Entitlements. All the entitlements combined are the largest federal spending issue. If these programs are cut at both the state level and federal level, money will be saved. Regardless of what you think, SS is loosing money fast.★Λubergine★ wrote:
I'm pretty sure they run that line of bull every thirty minutes or so on Fox entertainment news. That counts as education right?:P⌖ ᎷᎡ. ᏚᎷᏐᎢᎻ ⌖ wrote:
SS is non-discretionary. That means it can't be cut. Educate yourself before you try to argue with others.Cut social security and unemployment. Or at least raise the age of get done.
-
★Λubergine★ wrote:
It already has been. The age at which you could retire with full benefits used to be 65. Now it's 67. More cuts and/or tax increases are coming, regardless of how popular it is.SS won't be cut. Congress makes the rules, right? So do you think they would all get together and say "hey everybody, let's alienate a significant portion of our supporters." Not likely. People don't generally cut off the hand that feeds them. Look how well greece reacted to the prospect of cutting their retirement benefits.
-
⌖ ᎷᎡ. ᏚᎷᏐᎢᎻ ⌖ wrote:
The big money is in health care spending. If we could have been rational and gone with single payer we would have saved a ton of money. But no, that would be socialism, so we have to keep fattening the insurance companies...★Λddi★ wrote:
Yes I know SS is funded by payroll taxes, taxes on working people's wages, ect. That "trust fund" you are talking about is a fraud like thumbs said before. I'm not just talking about SS, I'm talking about all Entitlements. All the entitlements combined are the largest federal spending issue. ✂★Λubergine★ wrote:
✂⌖ ᎷᎡ. ᏚᎷᏐᎢᎻ ⌖ wrote:
✂Cut social security and unemployment. Or at least raise the age of get done.
-
★Λubergine★ wrote:
Not exactly. The loans you are talking about were to those states who didn't adequately fund their own portion of benefits and thus had to borrow from the Feds to make up the difference. The states never pay back the portion that the Fed is normally on the hook for.Thumbs Riley wrote:
Yes, by loans. Which states pay back when they have a surplus in the unemployment funds. Due to the natural business cycle.Also, state unemployment programs are subsidized by the federal government, at least in recent years. It's not a significant driver of the deficit, however.
-
I meant to type "the Feds" as in Federal government, not "the Fed" as in Federal Reserve.
-
How about we have the government actually try to do something. All they have been focusing on are stupid issues like gun control and immigration. It's like they forgot that we have a sluggish economy, too much debt, and high unemployment
-
I'm actually pleasantly surprise there are A few mobsters out there with a fair grasp of what's really going on in the world. I'd like to ask them what their views are re stock markets close to all time highs while it's obvious that things are not great at street level . I see net outflows from the markets from private investments which leaves share buy backs from companies using cheap credit from low interest rates to reduce dividend payments . My assumption is that companies are percieved to be doing well but it's all based on increased debt . That QE dollar has been leveraged a bit too much. I don't think the future will be too pretty .
-
Lets have a bake sale. 🍪🍪🍪🍪
-
☣ 🎸ӈɪƖƖßıƖƖγ🎸☣ wrote:
As long as you aren't doing the cooking. 😉Lets have a bake sale. 🍪🍪🍪🍪
-
Thumbs Riley wrote:
Yes, they do.★Λubergine★ wrote:
Not exactly. The loans you are talking about were to those states who didn't adequately fund their own portion of benefits and thus had to borrow from the Feds to make up the difference. The states never pay back the portion that the Fed is normally on the hook for.Thumbs Riley wrote:
Yes, by loans. Which states pay back when they have a surplus in the unemployment funds. Due to the natural business cycle.Also, state unemployment programs are subsidized by the federal government, at least in recent years. It's not a significant driver of the deficit, however.
-
★Λubergine★ wrote:
Source.Thumbs Riley wrote:
Yes, they do.★Λubergine★ wrote:
Not exactly. The loans you are talking about were to those states who didn't adequately fund their own portion of benefits and thus had to borrow from the Feds to make up the difference. The states never pay back the portion that the Fed is normally on the hook for.Thumbs Riley wrote:
Yes, by loans. Which states pay back when they have a surplus in the unemployment funds. Due to the natural business cycle.Also, state unemployment programs are subsidized by the federal government, at least in recent years. It's not a significant driver of the deficit, however.
-
Thumbs Riley wrote:
Oh really? You wanna play in the big leagues, now? I should ask you for a source, but you wouldn't be able to provide one, because you're just pulling shit out of your ass.★Λubergine★ wrote:
Source.
Thumbs Riley wrote:
Yes, they do.
Not exactly. The loans you are talking about were to those states who didn't adequately fund their own portion of benefits and thus had to borrow from the Feds to make up the difference. The states never pay back the portion that the Fed is normally on the hook for.
http://www.standardandpoors.com/ratings/articles/en/us/?articleType=HTML&assetID=1245339776915
http://www.sj-r.com/top-stories/x65621754/Unemployment-fund-back-in-black
Once again, educate yourself before you try to educate others. -
http://www.statebudgetsolutions.org/issues/detail/unemployment-insurance
I like this one, too. -
★Λubergine★ wrote:
France,Netherlands,Germany⚡🏀ʟєցi†ßɑʟʟєʀ🏀⚡ wrote:
What countries border Luxembourg?How about we have the government actually try to do something. All they have been focusing on are stupid issues like gun control and immigration. It's like they forgot that we have a sluggish economy, too much debt, and high unemployment
-
YOU wrote:
Belgium instead of Netherlands, I get them confused :)★Λubergine★ wrote:
France,Netherlands,Germany⚡🏀ʟєցi†ßɑʟʟєʀ🏀⚡ wrote:
What countries border Luxembourg?How about we have the government actually try to do something. All they have been focusing on are stupid issues like gun control and immigration. It's like they forgot that we have a sluggish economy, too much debt, and high unemployment
-
.coms usually aren't credible. The .org seems ok though.
-
☣ 🎸ӈɪƖƖßıƖƖγ🎸☣ wrote:
yea, don't trust the internet. especially standard & poors, they're so left? right? wing. haha. seriously, i'd trust them more than that org site. org sites have an agenda..coms usually aren't credible. The .org seems ok though.
-
★Λubergine★ wrote:
It's not that I don't trust them, it's just that the material is probably not peer reviewed. EBSCO is a great Internet source. I use it a lot in my research papers.☣ 🎸ӈɪƖƖßıƖƖγ🎸☣ wrote:
yea, don't trust the internet. especially standard & poors, they're so left? right? wing. haha. seriously, i'd trust them more than that org site. org sites have an agenda..coms usually aren't credible. The .org seems ok though.
-
Who authored that s&p article? It says its not found. I'd like to read it.
-
★Λubergine★ wrote:
Again, those are the loans that states had to take out because they didn't save enough to pay out benefits. There is a separate federal unemployment tax that primarily pays for administration of unemployment insurance but also paid for extended benefits during the recession. See the section on "How unemployment insurance is funded." http://www.cbpp.org/cms/index.cfm?fa=view&id=1466http://www.statebudgetsolutions.org/issues/detail/unemployment-insuranceI like this one, too.
-
I was going to comment intelligently on this thread, and then I realized that I would be better off trying to teach earthworms how to do long division.
-
☣ 🎸ӈɪƖƖßıƖƖγ🎸☣ wrote:
just because they aren't scholarly sources doesn't mean they don't have reliable information. you can only spin news so far, the facts in the articles speak for themselves. try google search "do states have to pay back unemployment loans" i posted 3 of the first 4 articles.★Λubergine★ wrote:
It's not that I don't trust them, it's just that the material is probably not peer reviewed. EBSCO is a great Internet source. I use it a lot in my research papers.
☣ 🎸ӈɪƖƖßıƖƖγ🎸☣ wrote:
yea, don't trust the internet. especially standard & poors, they're so left? right? wing. haha. seriously, i'd trust them more than that org site. org sites have an agenda..coms usually aren't credible. The .org seems ok though.
-
Tweek wrote:
Is that a comment on our intelligence, or yours? ;)I was going to comment intelligently on this thread, and then I realized that I would be better off trying to teach earthworms how to do long division.
-
Thumbs Riley wrote:
We will eventually. Probably in a similiar way Canada per province did. One state will do it (Vermont) and many more will follow.⌖ ᎷᎡ. ᏚᎷᏐᎢᎻ ⌖ wrote:
The big money is in health care spending. If we could have been rational and gone with single payer we would have saved a ton of money. But no, that would be socialism, so we have to keep fattening the insurance companies...★Λddi★ wrote:
Yes I know SS is funded by payroll taxes, taxes on working people's wages, ect. That "trust fund" you are talking about is ✂★Λubergine★ wrote:
✂⌖ ᎷᎡ. ᏚᎷᏐᎢᎻ ⌖ wrote:
✂Cut social security and unemployment. Or at least raise the age of get done.
![[][]](https://turfwarsapp.com/img/app/ajax-forbutton.gif)
Purchase Respect Points NEW! · Support · Turf Map · Terms · Privacy
©2021 MeanFreePath LLC