OPP Newsletter

Dave Loc: Upstate New York

Krugman is the economist who said, right after the dot.com crash, that what the Fed and Bush Admin needed to do is to build a housing bubble. Guess how that turned out.

Now, as to the Social Security trust fund, let's look beyond the misleading facts and at reality. The funds were "loaned" to the Treasury to fund ongoing governmental operations. When it is time to pay back the fund, the money must come from the Treasury. Now, on its face, if this is sound financing, I could retire a millionaire by saving 100k per year for ten years by the simple expedient of writing myself an IOU each year. Of course, at the end of the 10 years I'd have but one problem, getting paid back for the IOU.

Now, with the Treasury, however, they will pay it back. However, should we not solve the true fiscal calamity we're heading to, the payback will be with highly inflated dollars - that have far less purchasing power. By the way, Krugman is the same guy who now says Obama and the federal government should spend wh**ever they want now with the firm knowledge that they'll be paying off the debt with a far weaker dollar due to the inflation created by the need to print more money to pay back the debt.

If you are concerned about retirement only in numbers, you're OK with Soc Sec. However, if your concern is in purchasing power, watch out for the Krugman's of this world because it isn't your interest he has at heart.

rschwank

Social Security is bankrupt although no one wants We the People to know it. There is a way to put back some money into the Fund - Just eliminate funding to all the wasteful programs (ridiculous programs that do nothing for We the People or Our Country, but only fills the pockets of politicians and their friends.) This would put Trillions back into the fund because Representatives of the House and Senators have list of wasteful programs, but no one wants to eliminate them. Why? It is time for the U.S. Congress to do right by We the People and Our Country - NOW! They keep calling social security and entittlement program and if this is true-what about our Congress's retirement plans that the taxpayers help pay for-(when they cannot afford to pay into their own retirement fund) their retirement funds should be treated the same as social security. Then We the People would hear some Yelling, etc. They want to steal the People's retirement, but not willing to steal from themselves!

Dave Loc: Upstate New York

You have a President that says we do not have either a spending nor a debt problem, and that President's party controls the Senate - while the House is trying hard to get agreement, not to cut spending, to just keep down the increase in spending.

With this President, you have zero chance of reducing even the rate of increase in spending.