Big Spenders

You voted them into office again and again. To thank you for those votes, they spent your tax dollars on more entitlements that no one paid into a single dime.To fund this extravagance, borrowed or stole every penny in the coffers and then raided supposedly sacrosanct monies held for your future.

You brought this upon yourselves.

Social Security Expected to Dip Into Its Reserves This Year

The Social Security program’s costs will exceed its income this year for the first time since 1982, forcing the program to dip into its nearly $3 trillion trust fund to cover benefits.

This is three years sooner than expected a year ago, partly due to lower economic growth projections, according to the latest annual report the trustees of Social Security and Medicare released Tuesday. The program’s income comes from tax revenue and interest from its trust fund.

The trust fund will be depleted in 2034 and Social Security will no longer be able to pay its full scheduled benefits unless Congress takes action to shore up the program’s finances. Without any changes, recipients then would receive only about three-quarters of their scheduled benefits from incoming tax revenues. [snip]

The Social Security program works by using payroll taxes paid by workers and employers to pay for retirees’ benefits. What is left over is invested in the trust fund. Interest earned is reinvested in the fund.

Over time, the trust fund has grown to nearly $3 trillion. But long-running demographic trends threaten its finances. Last year, there were 2.8 workers for every Social Security recipient, down from 3.3 in 2007.

Treasury Secretary Steven Mnuchin said in a statement the Trump administration’s efforts to cut taxes, reduce regulatory burdens and overhaul trade agreements would boost economic growth and generate new money for the country’s two largest entitlement programs. [snip]

The tax cuts signed into law last year have slightly lowered Medicare and Social Security’s projected revenue over the next few years. Lower income-tax rates reduced projected revenue from the taxation of Social Security benefits. That means less money flowing into both programs because those revenues are transferred to the trust funds.

President Donald Trump’s decision to end a program offering young undocumented immigrants reprieve from deportation while allowing them to work also reduced anticipated tax revenue into the Social Security program, the report said.

Congress has debated ways of bolstering the programs’ finances, but hasn’t agreed on what to do.

Some of what is written in the above WSJ article is incorrect. It makes it sound like the tax cut, in part, is responsible .

Medicare and Social Security is funded by payroll taxes, not income tax.With the tax rate cut revenues fell very slightly. What is not clearly stated is the Congress makes up for spending folly by purloining money from the SS Trust Fund. Which is nothing more than paper legerdemain; LBJ opened up that ‘Lockbox’ to pay for the Vietnam War. The surplus touted by Congress exists only on paper.

If the Millennials believe that Socialism will provide for their future, they need to understand that the Government has no money except what it pilfers from one’s paycheck. When the Progressives promise to give all to everyone, they conveniently omit how they will pay for this largess.
One way is to stop giving SS and Medicare to non citizens. those would properly named illegals.

There is an election coming up. Care to make a change?

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Historical happenings

6/5/1783 Joseph and Jacques Montgolfier make the first public balloon flight.

6/5/1872 ~ The Republican National Convention, the first major political party convention to include blacks, commences.

6/5/1967~ The Six-Day War between Israel and Egypt, Syria and Jordan begins.

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Observations

There is something that exists in the collective stupidity of politicians. Once again it is being exhibited in the GOP’s inability to understand what happened in the 2016 election. Now Reince Priebus is mouthing the very bits of idiocy that the voters rejected when they elected Trump. All this is after the GOP has worked their damnedest to thwart Trump’s agenda.

Reince Priebus: GOP Will Return to ‘Traditional Platform’ After Trump

It is oft debated the transformative effect President Donald J. Trump has had on the platform and principles of the Grand Ol’ Party, but according to former RNC chairman and former White House Chief of Staff Reince Priebus, President Trump has not changed the GOP much at all. In fact, he apparently told a group of Georgetown University students that it will “basically return” to its platform prior to Trump once he leaves office.

According to the Georgetown student paper, The Hoya, Priebus claimed that there is not all that much different in the Republican Party itself, but that Trump is his own unique brand. However, for the present time, Trump has refocused the party on a populist message.

From The Hoya:

Priebus acknowledged Trump is, in some ways, not like any other Republican president. Trump is “extremely unique” in his personal style, Priebus said, and his campaign themes refocused the Republican Party on a populist message.

“President Trump’s been very good for the party in the sense that it’s returned to the idea that the American workers are worth fighting for. That we’re not about Wall Street — we’re about people that are making tools and working with their hands and have been forgotten,” Priebus said.

Reince Priebus also touted President Trump’s success in pushing for “traditional” GOP stances. [snip]

Priebus cited Trump’s accomplishments, which appeal to his Republican base, as evidence his unconventional leadership style has not impeded his success.

“You have the tax cuts, you’ve got the Supreme Court and you have a total deregulation and a dismantling of almost everything that Obama did by executive order,” Priebus said. “Those, if you’re a Republican, are great things. The decisions that he’s made have made him a pretty historic president in only a year.”

[snip]

But at the end of the day, despite President Trump’s success in growing the base, he predicted that it will not have a long lasting impact. [snip]

Ignorance is curable, albeit a painful process; stupidity is terminal. There is no cure for that. It seems that the GOP has contracted the latter. Frankly, it will be a relief when they/re gone. More and more voters are eschewing belonging to a party, opting for the Independent label.

Given the mess in DC from both Parties, their demise is welcome. We know there are enough lampposts. It is only a matter of finding enough rope.

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