"The trust fund, which exists in paper form in a filing cabinet in Parkersburg, W.Va., are bonds backed by the government’s “full faith and credit’’ but not by any actual assets. That trust fund, currently at $2.5 trillion, has been spent over the years to fund other parts of government"
Obviously, the lying AmericaKan government has no idea what the word trust means -- which is why we no longer trust them (or their deceptive and deceitful MSM).
Look at the headline and focus they give the piece and note where I found the quoted paragraph.
"US says health law will extend Medicare fund; But gains may not happen if savings don’t materialize" by Ricardo Alsonso-Zaldivar and Martin Crutsinger, Associated Press | August 6, 2010
Can't even get out of the headline without a but, huh?
WASHINGTON — The annual checkup of the government’s big benefit programs for the elderly shows that the Obama administration’s sweeping health care overhaul will extend the life of the Medicare hospital insurance fund by 12 years.
What a s*** spin.
How sad for you, America. This is your MSM.
But officials cautioned yesterday that the dramatic gain, reflected in the annual trustees report for Medicare and Social Security, will depend on achieving significant savings in health care in the coming years....
Translation: the RATIONING of HEALTH CARE!
See: No Choice With Obamacare
I'm not surprised; what is one more broken campaign promise and lie?
Pretty damn used to them by now. Actually, I expect 'em and would be in a state of disbelief if they actually told the truth about anything.
The trustees said the recession had made the outlook for the Social Security trust fund worse in the near term, however.
They said the Social Security program is projected to pay out more in benefits than it collects in taxes for the first time this year and next year. The Social Security trust fund is expected to be exhausted in 2037, the same date as in last year’s report. Another failed government program.
I know Americans don't like to hear it, but that money is gone, gone, gone!
There WILL NOT BE ANY SOCIAL SECURITY in the future!
It's ALL GONE and the GOVERNMENT STOLE IT for WARS, BANKS, and ISRAEL!!
The report noted that achieving the health care savings needed to extend the life of the Medicare trust fund “may prove difficult and will probably require that payment and health care delivery systems be made more efficient than they are currently.’’
That means LESS CARE for MORE MONEY!
That is what your HEALTH TAX will be PAYING FOR, folks!!
The administration delayed issuance of the trustees report, which normally comes out in the spring, to recalculate projected spending estimates based on the changes the new health care law brought about or will bring about.
Treasury Secretary Timothy Geithner, the head of the trustees panel, said that while the new report showed very positive developments from the new health care law it also underscored “that we must continue to make progress addressing the financing challenges’’ facing both Medicare and Social Security.
That flush you just heard was the agenda-pushing report following my duty down the toilet.
The trustees report said Social Security pension and disability payments will exceed revenues for this year and 2011, reflecting a deep recession that has knocked millions of people off payrolls, which means they are not paying Social Security payroll taxes.
The report said the program would return to the black in 2012 through 2014 but that benefit payments will again exceed tax collections in 2015. For every year after 2015, Social Security will be paying out more than it receives in tax collections under the impact of the retirements of 78 million baby boomers, the report projects.
Why would I care what a liar has to say?
Here's an idea: SHUT DOWN the WAR MACHINE and the FOREIGN AID to rebuild (not really) what we have destroyed?
That should fix social security and a lot of other problems right quick!
The government will then have to turn permanently to its trust fund to make up the difference between Social Security taxes and the benefits being paid out. The trust fund, which exists in paper form in a filing cabinet in Parkersburg, W.Va., are bonds backed by the government’s “full faith and credit’’ but not by any actual assets. That trust fund, currently at $2.5 trillion, has been spent over the years to fund other parts of government.
Yeah, save the worst for last, you PoS.
And about that health component:
"Health law challenge passes legal hurdle; Federal judge says Va. raises valid points" by Michael Felberbaum, Associated Press | August 3, 2010
RICHMOND — Virginia’s lawsuit challenging the Obama administration’s health care overhaul cleared its first legal hurdle yesterday as a federal judge ruled the law raises a host of complex constitutional issues....
US District Judge Henry Hudson’s ruling denied the Justice Department’s attempt to have the lawsuit dismissed, saying further hearings are needed to weigh the merits of the case....
The Virginia General Assembly passed legislation this year exempting state residents from the federal coverage mandate. Hudson wrote that the attorney general has a right to defend that state law.
Cuccinelli announced in March that he would challenge the national law. More than a dozen other state attorneys general have filed a separate challenge in Florida, but Virginia’s lawsuit is the first to go before a judge.
Hudson said Virginia’s case raises several complex constitutional issues — mainly whether Congress has the right under the Constitution’s commerce clause to regulate and tax a person’s decision not to participate in interstate commerce....
Stephanie Cutter, a veteran political operative tapped by Obama to guide efforts to explain the law’s benefits, wrote in a White House blog post that the government expects to prevail.
“We do not leave people to die at the emergency room door — whether they have insurance or not,’’ she wrote....
Actually, WE DO!!
Related: Ignored Psych Patient Dies on Hospital Floor
Also see: Why You Will Love the New Health Law
Figures Cutter is a hack!
Federal prosecutors have argued that the relevant commercial activity is the purchase of health care services, not insurance. They said uninsured Americans are shifting $43 billion a year in health costs to others, and that is the problem the coverage provision seeks to correct.
And how much are the wars, etc, costing?
I noticed the corporate conglomerates of the health industry are profitable and their CEOs well paid.
How come EVERYTHING is ALWAYS YOUR FAULT in the PAPER, readers?
--more--"
Oh, did I mention that THE PEOPLE support the STATES?
"Missouri voters on Tuesday overwhelmingly voted in favor of a state measure to bar the government from requiring people to carry health insurance and penalizing those who don’t....
And the MSM is trying to tell us the new health bill gained popularity when we never liked it at all and like it even less now considering the behavior of this government and the issue-framing, agenda-pushing, corporate MSM.
--more--"
Yeah, and this nation is going to take their raging anger out on Democrat hide this fall!
It won't make things better, and in fact will makes things worse (as we have seen the last two election cycles when we voted for "change), but what other alternatives do Americans have?
A full work stoppage and sit-down strike seems unlikely at best and violent revolution is not a place I want to go. It may come to that, but all other means must be exhausted.
Perhaps the empire will collapse under its own bankrupt and exhausted state saving us the trouble and allowing us to pick up shattered pieces the best we can and move on to true peace.
I pray this is so.
