OBOF TYMHM & MORE PART 37

WELCOME TO OPINIONS  BASED  ON FACTS (OBOF)

&

THINGS YOU MAY HAVE MISSED (TYMHM)

YEAR THREE

 

Name	Published
OVERVIEW
OBOF & TYMHM PART 14	Dec  18, 2012
OBOF & TYMHM PART 15	Jan.  02, 2013
OBOF & TYMHM PART 16	Jan.  08, 2013
OBOF & TYMHM PART 16 EXTRA	Jan.  11, 2013
OBOF & TYMHM PART 17	Jan.  15, 2013
OBOF & TYMHM PART 18	Jan.  22, 2013
OBOF & TYMHM PART 19	Jan.  29, 2013
OBOF & TYMHM PART 20	Feb.  05, 2013
OBOF & TYMHM PART 21	Feb.  14, 2013
OBOF & TYMHM PART 22	Feb.  20, 2013
OBOF & TYMHM PART 23	Feb.  27, 2013
OBOF & TYMHM PART 23 SPECIAL	Mar.  06, 2013
OBOF & TYMHM PART 24	Mar.  07, 2013
OBOF & TYMHM PART 25	Mar.  12, 2013
OBOF & TYMHM PART 25-EXTRA	Mar.  14, 2013
OBOF & TYMHM PART 26	Mar.  19, 2013
OBOF & TYMHM PART 27	Mar.  26, 2013
OBOF & TYMHM PART 28	Apr.   02, 2013
OBOF & TYMHM PART 29	Apr.   08, 2013
OBOF & TYMHM PART 30	Apr.   17, 2013
OBOF & TYMHM PART 31	Apr.   23, 2013
OBOF & TYMHM PART 32	Apr.   30, 2013
OBOF & TYMHM PART 33	May   07, 2013
OBOF & TYMHM PART 34	May   18, 2013
OBOF & TYMHM PART 35	May   21, 2013
OBOF & TYMHM PART 36	May   30, 2013
OBOF & TYMHM PART 37	June  05, 2013

 

 

IN THIS ISSUE

 

1.  More on the unbelievable true story.

2.  The Impending Social Security Crisis.

3.  The latest from Senator Bernie Sanders

             On Social Security.  

 

 

BACK  AGAIN

 

FROM FLOYD:

 

Hi everyone, I'm a long way from back to normal, but a lot better.  The brake in my leg is not a real bad one so I think it will let me get around pretty good before long.

 

 

Last week, I started with a TRUE STORY.  It is covering a period of about 3 1/2 years and I said that I would tell it in installments.  Each week I am going to print the previous installments, but they will be printed in GREEN.  By doing that, anyone who has not seen the previous installments will have them and can catch up if they are in a mind too.  At the same time anyone of you who have read the previous installments will not have to read it all over again and can just read the new installment.  The new installments will always be in BLACK and labeled as such.

~~~

A TRULY UNBELIEVABLE

TRUE STORY

By Floyd Bowman

Publisher "Opinions Based On Facts."

May 7, 2013

 

PREVIOUS INSTALLMENT 5-07-13

 

I am going to attempt to tell you a story that is taking place right now and I am involved in it.  The entire story is complicated and covers a period of the past 3-1/2 years.  It will have to be told in a number of installments.  At this time, I am just going to give you a basic idea as to what it is about.  I am going to ask you to take my word for the facts that I provide cause I know they are facts by being involved.

 

This involves the acquisition of an item by the U. S. Military from an individual that has invented and patented it.  It is an item that saves equipment, precious time, and most important, will save lives in combat. 

 

This individual is a very honest, patriotic, and unpretentious person from Owasso, Oklahoma.  He is my neighbor and I have known him for more than 23 years.  He has had lucrative offers to buy his patent and they wanted to have it made in China.  He will not have it built anywhere, except in the USA. 

 

He has been having this item produced and has been selling it at Farm & Ranch shows.  It has been accepted very well.  When he started to approach the Military he had to make one that was much larger than what was for domestic use.  His first showing was before a group of about 35 Military Engineers.  When he got done he received a standing ovation. 

 

What this man has gone through with the government is just unreal.  They are suppose to be pushing and helping small businesses, but you would never know it by the treatment he has received.

 

Next week, I am going to start at the beginning and how this invention came about.   

 

THE REASON FOR WRITING ABOUT THIS.

 

At the beginning, I said I was going to attempt to write this story.  It has become so involved, so much runaround, so much misinformation, and so deceptive that I am very upset about it.  It is my hope that by writing this in my blog, someone, someday may pick up on it and say "This has to stop."  And maybe, just maybe that someone might be a person that can do something about the mistreatment this man has received. 

~~~

THIS WEEK'S INSTALLMENT

I am starting at the beginning this week.  That is always a good way to start.  First, a little bit about this man.  We will call him Jack.  (I am not going to use person names throughout, so I won't get anyone in any trouble.

Jack was 58 when he first got this idea.  Jack attended Oklahoma State University and has a Bachelors Degree and Masters Degree in Science.  He is an accomplished mechanic with a background in heavy earth moving equipment operation and repair.  He and his wife have two real fine boys, 18, and 21.  One day in August 2010, he and the boys had been out boating.

They were on their way home from the lake and Jack got quiet.  The boys asked him if he was all right?  He just answered them, yes, but that was all.  This idea had just came into his head. 

When they got home, Jack went out to his shop immediately and made the first prototype of the unit.

 

The above writing of this installment, was done before I fell and broke my leg.  Unfortunately, I am just not up to writing the rest of this installment at this time.  I will pick it up next week.

I THANK ALL OF YOU FOR YOU UNDERSTANDING, I hope.

~~~

It is now June 5, 2013 and I am feeling well enough to continue with this true story.  However, during the past two weeks there have been some developments, making it wiser for me to curtail this story for now.  It might be that in a few months or years, if I am still here, I can finish this  bazaar true story, involving the Government of the U.S.

~~~

DR. ALLEN W. SMITH'S

NEW BOOK

"The Impending

Social Security Crisis."

"The Government's BIG Dirty Secret."

 

Allen W. Smith, author of The Looting of Social Security, has done extensive research and writing, related to Social Security financing, since he discovered the Social Security fraud in 2000. For the past 13 years, Smith has waged a relentless campaign to expose the “great Social Security theft.” and the government cover up of the fact that the government embezzled  $2.7 trillion from Social Security and used the money to finance wars and other government programs.

 

Smith argues that the AARP and the NCPSSM are misleading their members, and the public, about the true status of Social Security, by posting false statements on their official websites and making untrue  statements in all their communications with the public. 

 

 

THE MONEY IS GONE!

 

“Neither the redemption of trust fund bonds, nor interest paid on those bonds, provides any new net income to the Treasury, which must finance redemptions and interest payments through some combination of increased taxation, reductions in other government spending, or additional borrowing from the public.”

Summary of the 2009 Social Security Trustees Report, page 18.

 

“Congresses under both Republican and Democrat control, both Republican and Democrat presidents, have stolen money from social security and spent it.  The money’s gone.  It’s been used for another purpose.”--Senator Tom Coburn (R-OK), on March 16, 2011, during a senate speech,

 

IRONWOOD PUBLICATIONS

Winter Haven, FL

Kindle E-book

ISBN  978-0-9859105-1-8

$5.95

Order from Amazon.com   http://amzn.com/B00CRTJM6K

 

 

Government Owes $2.7 Trillion

to Social Security.

 

by Allen W. Smith

 May 18th, 2013

 

The government has embezzled all surplus Social Security revenue, generated by the 1983 payroll tax hike, and spent the money on wars and other government programs.  None of the money was saved or invested in anything. Social Security is not broken, but at the moment, it is broke. The cost of paying full benefits in 2010 was $49 billion more than Social Security tax revenue for the year.  So the government had to borrow $49 billion (probably from China) in order to pay full benefits.  And the gap between the cost of benefits and Social Security tax revenue will get bigger and bigger in the years ahead.

The only reason the government has been able to keep the public from finding out about “the great Social Security theft,” for all these years, is because the AARP and the NCPSSM have cooperated with the Social Security Administration in their official talking points about Social Security. The AARP has the following statement posted on its website: “Social Security will be able to pay 100 percent of benefits for the next 20 years.” The NCPSSM has this statement on its website: “Social Security is projected to deliver full guaranteed benefits until at least 2033.”  These statements are not even close to being true, and the leadership of these organizations know that they are deliberately misleading their members, and the public, with these false statements.

Social Security doesn’t even have enough money to pay this year’s benefits without borrowing.  Its tax revenue for 2010 was $49 billion less than the cost of paying full benefits in 2010.  And the gap between Social Security revenue and the cost of paying full benefits will become larger and larger in the years ahead.

The government IOUs in the trust fund are not like the marketable U.S. Treasury bonds held by China and America’s other creditors. Those marketable bonds can be converted into cash at any time by selling them in the open market.  The IOUs in the trust fund are like a handwritten note that a bank robber might leave behind in the empty vault, stating how much money he has stolen.  The note tells the bank how much money is missing, but it won’t help the bank get the money back.  Similarly, the IOUs in the trust fund are a record of how much Social Security money was taken and spent on other programs.  But the IOUs are not marketable, and they cannot be converted into cash.  And the interest income, that the SSA claims the government is paying, is not cash interest.  It is in the form of more of the same worthless IOUs that the trust fund already holds.

The harsh fact is that Social Security does not have any cash reserves.  That is why President Obama said that he couldn’t guarantee that Social Security checks would go out on time without a budget agreement, because “There might not be enough money in the coffers to cover them. ” The government owes Social Security $2.7 trillion, but the government is both unable and unwilling to repay the stolen money, at least in the short run.

The good news is that the Social Security System is not broken. It works well and has done so for the past 78 years. The problem is that the United States federal government is badly broken, and no “fix” is upon the horizon. The only problem is that,

Social Security does not have enough revenue to pay full benefits, and the government has stolen the cash reserves it is supposed to have in the trust fund. If the government would enact legislation requiring the repayment of the stolen money, perhaps in installments over the next 30 years, Social Security’s short-term problems would be fixed.

Forget about that old propaganda statement the enemies of Social Security have been repeating, over and over, since Social Security was first created. It goes like this: Social Security, in its present form, is unsustainable over the long run. That is just a big lie that the enemies use as a weapon in their war against Social Security. There is nothing basically wrong with the Social Security System, and it would not even be in the news today if crooked

Dr. Allen W. Smith is a Professor of Economics, Emeritus, at Eastern Illinois University. He is the author of seven books and has been researching and writing about Social Security financing for the past ten years. His latest book is The Impending Social Security Crisis: The Government’s Big Dirty Secret..

~~~

FROM BERNIE SANDERS

UNITED STATES SENATOR

 

Dear Floyd

I need your help.

Republicans, some Democrats, and President Obama are pushing a backdoor way to make substantial cuts in Social Security and benefits for disabled veterans -- a concept called chained consumer price index, or “chained CPI.”

Incredibly, they are arguing that the cost of living adjustments that seniors receive for Social Security are too generous.  That’s nonsense.  I, and many economists, believe they are not generous enough.

Recently, 17 colleagues and I joined Senator Tom Harkin to introduce a resolution stating our strong opposition to the use of chained CPI.

That means there are 81 other Senators who have not signed that resolution to prevent cuts to Social Security.  These senators need to hear from you -- today.

Please join me and our friends at Progressives United in calling your senators and asking them to sign the resolution today opposing the use of chained CPI.

If a chained CPI goes into effect, seniors who are 65 now will receive $650 less a year at age 75 and $1,000 less a year at age 85. Veterans who started receiving VA disability benefits at age 30 would have their benefits reduced by over $3,000 a year at age 65.  We must not allow that to happen.

Today, the wealthiest people in America are doing phenomenally well, corporate profits are soaring and the gap between the very rich and everyone else is growing wider and wider.  At a time when the middle class is disappearing, we must not balance the budget on the backs of the elderly, the children, the sick, and the poor.  We must not cut Social Security and other programs of enormous importance to the American people!

Today, the effective corporate tax rate is at its lowest level since 1972, and 1 out of 4 profitable corporations pays nothing in federal income taxes.  We are losing about $100 billion a year in revenue as major corporations stash their profits in the Cayman Islands and other tax havens.  We need a budget that ends these outrageous loopholes and demands that corporate America accepts its responsibility to help with deficit reduction.

Please, call today and urge your senator to reject any budget that includes chained CPI, or cuts Social Security, Medicare, or Medicaid.

Thank you for fighting to protect the middle class.

Sincerely,


Senator Bernie Sanders

~~~

If the good Lord is willing and the creek don't rise, I'll talk with you again next Tuesday June 11, 2013, one day after I become 89 years old.

 

God Bless You All

&

God Bless the United States of America

Floyd