A Message To The Wall Street Captured, Bailout Loving, Military Industrial Political Class Regarding Cuts To Social Security - Take Your Austerity And Shove It Up Your Ass!
Dear Esteemed Chairmen:
No huge surprise here. What's unfortunate for you is that for years, even decades - going back to Ross Perot - the American people have been prepared for and willing to accept changes (means testing the wealthy) to entitlements. You, the politicians never gained the courage to ask, but I think for the most part the general public has been ready. And since I've been screaming about these issues my entire adult life, and have always pushed the concept of shared sacrifice as a means to budget sanity and limited government, I'm not comfortable with what I'm about to write, but it's inescapable after watching and recording a 32-month orgy of fiscal mayhem dominated by trillion-dollar bailouts, trillions in wasted stimulus, and trillions gifted to the military-industrial killing machine.
Fast forward from the Perot deficit awakening 20 years ago, and finally, you, the generationally-irresponsible political class seem to be facing up to the unfunded entitlement budget nightmare of your own creation - or at least you're in the discussion phase of 'facing it' - and what is the societal backdrop? Seething anger over the recession, the wars, multiple failed stimulus, dollar destruction, QE, and the government bailouts of favored industries.
So against this backdrop, your Commission now recommends cuts to Social Security and a hike in the retirement age to help us on our merry way to a fiscally sane future.
Here's my recommendation for you.
The American people are willing to sacrifice as part of a shared effort at righting our budgetary path, but they are not prepared to be sacrificial lambs led to the 'benefits and promises slaughterhouse' while the Wall Street Banker Pigs gorge on trillions in stealth FED and FDIC bailouts, ZIRP giveaways and a record $144 billion in bonuses - an amount equivalent to the 49th largest GDP in the world - $144 billion in bonuses being paid by criminally insolvent banks that are only still operating due to a Wall Street financed K-Street lobbying tsunami that forced FASB to change the accounting rules that now allow these same insolvent institutions of usury and arrogance to apply Faustian valuations to complete shit assets all over their lying, godforsaken, Enron resembling, off-balanced, imbalanced, bs-balanced, sheets.
Banks exist in the lala land of leveraged deferred tax assets representing most of tier-1 capital at Citigroup, of hundreds of billions of helocs at Wells Fargo worth pennies, but marked at dollars, of hundreds of billions of fraudulent MBS pumped out by Countrywide, whose liability now sits with Bank of America. This is a mere glimpse of the great banking lie that provides cover for the $144 billion insolvent bonus river that bathes the Street, all supported and paid for by taxpayers, Treasury and the Federal Reserve. Therefore, ultimately, taxpayers.
In this environment, selling 'cuts to social security' is not going to work, and considering the role you both played in creating the irresponsible federal spending machine that now controls Washington and has bankrupted future unborn generations, fuck you for even bringing it up.
Signed,
The Daily Bail
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Jul 11, 2011 at 12:16 PM
Reader Comments (44)
http://market-ticker.org/akcs-www?post=173675
http://www.economiccollapse.net/foreclosuregate-and-the-great-mers-whitewash-bill
http://www.activistpost.com/2010/12/bernanke-long-term-unemployment-has.html
First Blatantly Unlawful Fed Act: AIG Stock
http://market-ticker.org/akcs-www?post=173675
If you don't have money outside the computerized banking system, you should do so now. You just never know when the system is going to go down. At such a time, the person, who does have cash, will be calling the tune. Remember, "He who has the gold makes the rules." Below, Simon Black reports on the major malfunction at one of Australia's largest banks-RW
By Simon Black
It all started a week ago. National Australia Bank, one of the largest in the country, had a technical malfunction in its core system. Within hours, a simple problem had practically brought a large part of Australia's banking system to its knees. It was a crazy turn of events.
http://www.economicpolicyjournal.com/2010/12/disappearing-bank-accounts.html
Right on DB! And while they're at it, they are big enough assholes so they should be able to fit their rip off healthcare plan, their powerless Consumer Financial Protection Bureau, and the corrupt Federal Reserve in with their bulls**t Austerity crap.
All of this deficit hawk stuff is nonsense, the problem with America, with tax revenues is that there are fewer people working, the austerity measures these madmen are promoting will only make the Depression worse as government workers will soon have to join the masses of the unemployed!
and don't forget that the only reason clinton was able to balance the budget was b/c tax receipts skyrocketed from 1995-2000...tech bubble, internet bubble and MASSIVE y2k build out...
When I said that most Americans were prepared for cuts to SS, I was speaking of those who would be means tested and then asked to give up a certain % of benefits. So I was speaking of the more well-off when I wrote that sentence in the story. I WAS NOT implying that most people had accepted the idea of hiking the retirement age. The assumption I have always held is that cuts to SS would come in the form of income testing for the well to do recipients, who would then receive an annual tax credit in exchange for “giving up” benefits they were promised.
In other words, if you make more than 200k (random number) in retirement, then the gov’t withholds, let’s say, $10k of your SS benefits, then you would receive a $10k tax credit in exchange (thereby saving you roughly $3300 on your taxes)…
I likely butchered the numbers, but you get my point. But, EMPHATICALLY, I was not saying that most Americans had accepted the idea of hiking the retirement age for everyone, or targeting ALL income levels for savings.
you can find this addendum here...in comments...
http://www.dylanratigan.com/2010/11/11/open-letter-to-alan-simpson-erskine-bowles-from-the-daily-bail/
and here...
http://www.nakedcapitalism.com/2010/11/guest-post-open-letter-to-alan-simpson-erskine-bowles-chairmen-of-the-u-s-deficit-commission-regarding-proposed-changes-to-social-security-%C2%BB.html
my views are pretty straight forward...cut the defense budget by 50% and then come talk to me about cuts elsewhere...until then there's no need to have a conversation...
you can find a lot of my comments in there...
http://dailybail.com/home/open-letter-to-alan-simpson-erskine-bowles-chairmen-of-the-u.html
i haven't gotten into the details, but according to the proposal today, the chnge in the ss retirment age has been pushed back to 2075...so not for 65 years...i am not covering the commission recommendations yet b/c it's a waste of time at this point...congress will do as they please...this is all just a show...
The only thing these people deserve is to be dropped down a 500 foot-deep well..
I guess there aren't any ANTI-SOCIALIST CONSERVATIVE REPUBLICAN or TEA PARTIERS in this number.
LOL!!
Then outlaw all political parties, since their only purpose is to illegally influence government. People can vote for individuals, not the gang they belong to.
The founding fathers warned us about political parties. Once again, they were right.
Working another 5 years to pay for the violent bigotted self-indugence of congress and Pres. Dover. Time to clean house.
BTW - Denninger is shill. He wants SS/Medicare eliminated. He's supporting his own agenda along with the banksters.
Nice write up Daily Bail. But they'll cut the "entitlements" anyway. Too many people still believing in the government and that the officials want to "help" us.
Its laughable. Just forget it.
Ordinary sallary has aprc 33% tax.
You get a whrithoff on 28% on intress on your tax.
Free(almoust) medical cear, we pay just a symbolic price.
Scools are free all the way up to Master degree.
Kindergardens are not free, expet it depends on what you are, it could bee suported by the siscal system.
What ever you have heard about Scandinavia(comunistic, hhaha) country I would like to fill in the gaps.
Norway as a ex. national GDP is not even dependent on our fu.. oil, and still Norway runs on pluss.
We waist money on a lott of other things just like USA, but still we have a surpluss.
why.
The difference is chrystall clrear.
Wars and The Military Ind. compl.
Like ancient Rome, ouy will fall by the same reason.
Greed and violence, a empire untill you runn out of cash.
Then what.
Bye-Bye Obama, you piece of shit. You could have been one of the greatest presidents of all time, but you sold out, you stupid, criminal asswipe.
Robert S. Finnegan
Jakarta, Indonesia
rsfinnegan@gmail.com
STOP COMPLYING WITH TYRANNY!!!!!!!!!!!
WWW.PLACEOFREFUGE2012.COM
I was ready to jump on you too Bail. A bullshit statement if there ever was one and don't ever apologize for correcting the record Brian. Now that we have jawed this bastard to death, what are we going to do about it?
Robert S. Finnegan
Jakarta, Indonesia
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Means testing the wealthy...it's not very controversial...simply ask the wealthy retired populace to accept less in medicare and social security...
Robert S. Finnegan
Jakarta, Indonesia