{"id":20863,"date":"2016-06-04T08:41:52","date_gmt":"2016-06-04T13:41:52","guid":{"rendered":"http:\/\/olduvai.ca\/?p=20863"},"modified":"2016-06-04T08:42:26","modified_gmt":"2016-06-04T13:42:26","slug":"obamas-latest-whopper-lets-raise-social-security-benefits","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=20863","title":{"rendered":"Obama\u2019s Latest Whopper\u2014-Let\u2019s Raise Social Security Benefits!"},"content":{"rendered":"
\n

Obama\u2019s Latest Whopper\u2014-Let\u2019s Raise Social Security Benefits!<\/a><\/h3>\n

The U.S. has\u00a0approximately $80 trillion of unfunded liabilities for\u00a0social security, medicare and other entitlements sitting atop a work force that is rapidly aging and an economy that is lapsing into stasis. Yet in the midst of a\u00a0campaign diatribe about Donald Trump\u2019s alleged\u00a0lack of preparation for the highest office in the land, the current White House occupant proved that in nearly eight years he has learned exactly nothing about the nation\u2019s abysmal fiscal plight.<\/p>\n<\/header>\n

\n
\n

\u201cAnd not only do we need to strengthen its long-term health, it\u2019s time we finally made Social Security more generous and increased its benefits so that today\u2019s retirees and future generations get the dignified retirement that they\u2019ve earned,\u201d Obama said in an\u00a0economic call to arms<\/u><\/a>\u00a0in Elkhart, Indiana.<\/p><\/blockquote>\n

Don\u2019t bother to say he must be kidding. After all,\u00a0our President\u00a0also claims the disaster known as Obamacare is a roaring success; and that he has created 14 million jobs\u2014-when,\u00a0in fact,\u00a0there are fewer full-time, full-pay\u00a0\u201cbreadwinner jobs\u201d in America\u00a0today than when Bill Clinton scuttled out of the White House 16 years ago.<\/p>\n

Still, your don\u2019t have to be even a know nothing about baby-boom demographics to recognize that the words \u201cincrease\u201d and \u201csocial security benefits\u201d will never again inhabit the same universe. To wit, there are about 50 million persons\u00a065 or over at present, but this number will rise to 80 million by around 2040 and nearly 100 million a decade or two thereafter.<\/p>\n

\"\"<\/a><\/p>\n

Moreover, as\u00a0we keeping insisting, there is nothing in the\u00a0OASDI trust funds except intergovernmental accounting confetti. Every dime that was\u00a0ever collected from the social insurance taxes, which bring in more than $1 trillion per year in revenue, has already been spent on education grants, Federal salaries, aircraft carriers, cotton subsidies, windmill farms and thousands of other Washington boondoggles.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Obama\u2019s Latest Whopper\u2014-Let\u2019s Raise Social Security Benefits! The U.S. has\u00a0approximately $80 trillion of unfunded liabilities for\u00a0social security, medicare and other entitlements sitting atop a work force that is rapidly aging and an economy that is lapsing into stasis. Yet in the midst of a\u00a0campaign diatribe about Donald Trump\u2019s alleged\u00a0lack of preparation for the highest office […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[3306,5979,2120,2889,825,827,834,13967,877],"class_list":["post-20863","post","type-post","status-publish","format-standard","hentry","category-economics","tag-barack-obama","tag-contracorner","tag-david-stockman","tag-demographics","tag-unfunded-liabilities","tag-united-states","tag-us","tag-us-social-security","tag-white-house"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20863"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20863\/revisions"}],"predecessor-version":[{"id":20865,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20863\/revisions\/20865"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}