tag:blogger.com,1999:blog-7465072391199760560.post2319306799394869238..comments2024-03-26T14:30:49.660-05:00Comments on The Wifely Person Speaks: Time To Wake Up And Smell The ManureThe Wifely Personhttp://www.blogger.com/profile/03255569339784573469noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7465072391199760560.post-43695890345944250422017-07-14T11:25:47.588-05:002017-07-14T11:25:47.588-05:00https://www.forbes.com/sites/baldwin/2017/07/13/ne...https://www.forbes.com/sites/baldwin/2017/07/13/news-from-the-social-security-ponzi-scheme<br /><br />The Federal government released on 7/13/17 its annual update of Social Security’s sick finances:<br /><br />--The system is $12.5 trillion under water, up from $11.4 trillion a year ago.<br /> :<br />--The retirement operation is running an $86 billion annual deficit. That’s the difference between the money coming in from Social Security’s share of payroll taxes (12.4% of covered payroll) and the money going out in monthly checks and in overhead.<br /><br />Ponzi? That’s too kind an interpretation. A Ponzi scheme has old investors being paid off with money raised from new ones. In this case there isn’t enough cash coming in from new players to pay off the old ones. The $86 billion shortfall is being covered in traditional federal fashion, by drawing on general tax revenues and by printing money.<br /><br />The trustees of the Social Security system put the grim news in as positive light as they can. They cheerily note that “asset reserves” grew from $2,813 billion at the end of 2015 to $2,848 billion at the end of 2016.<br /><br />But these “reserves” are not a pile of saved capital in the form of stocks, bonds and mortgages. Rather, they are a bookkeeping entry in which the government borrows money from the government, and the government pretends to have “income” by collecting interest from…the government.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7465072391199760560.post-79449877085350413312017-07-11T08:43:34.038-05:002017-07-11T08:43:34.038-05:00Speaking of entitlements...
Happy Birthday, WP -...Speaking of entitlements... <br /><br />Happy Birthday, WP -- I wouldn't dare reveal your age, but I do want to wish you a warm welcome to Medicare! Mazel Tov!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7465072391199760560.post-25157675192526975122017-07-11T00:48:43.361-05:002017-07-11T00:48:43.361-05:00My bubby was also from Odessa. Her name was also B...My bubby was also from Odessa. Her name was also Bessie (in English, of course) but really, Basia. Lived with us until she died at 94. She spoke to us in Yiddish or broken English and we understood what she said. She is the reason I love Yiddish. She is why I love to be called Bubby. I got off your subject, but I love that our bubbies were both from Odessa and named Bessie. So glad I found The Wifely. I'm waiting for the live debate between you and Jason Lewis. You kick his ass all the time.Elissanoreply@blogger.com