Wednesday, October 14, 2015

OBOF TYMHM & MORE Vol 15 - No 20


THINGS YOU MAY HAVE MISSED (TYMHM)

YEAR ONE

YEAR TWO

YEAR THREE

YEAR FOUR

YEAR FIVE

 

OBOF YEAR FIVE INDEX
 
OBOF TYMHM
Jan. 07, 2015
OBOF TYMHM Vol 15 - No 1
Jan. 19, 2015
OBOF TYMHM Vol 15 - No 2
Feb.  03, 2015
OBOF TYMHM Vol 15 - No 3
Feb.  23, 2015
OBOF TYMHM Vol 15 - No 4
Mar.  02, 2015
OBOF TYMHM Vol 15 - No 5
Mar.  06, 2015
OBOF TYMHM Vol 15 - No 6
Mar.  13, 2015
OBOF TYMHM Vol 15 - No 7
Mar.   23, 2015
OBOF TYMHM Vol 15 - No 8
Mar.  28,  2015
OBOF TYMHM Vol 15 - No 9
Apr.  13,  2015
OBOF TYMHM Vol 15 - No 10
May  02,  2015
OBOF TYMHM Vol 15 - No 11
May  09,  2015
OBOF TYMHM Vol 15 - No 12
May  19, 2015
OBOF TYMHM Vol 15 - No 13
May  26, 2015
OBOF TYMHM Vol 15 - No 14
May  29, 2015
OBOF TYMHM Vol 15 - No 15
July   28, 2015
OBOF TYMHM Vol 15 - No 16
Sept.  15, 2015
OBOF TYMHM Vol 15 - No 17
Sept.  20, 2015
OBOF TYMHM Vol 15 - No 18
Sept.  27, 2015
OBOF TYMHM Vol 15 - No 19
Oct.   07, 2015
OBOF TYMHM Vol 15 - No 20
Oct.  13, 2015

 

Agenda


1.  FROM  FLOYD

The Democratic Presidential Debate.

 

2.  Bernie for President

Immediately After the Debate

 

3.  Bernie Sanders: ‘Don’t be surprised if we do well with a number of Republicans’

4.  Community viewpoint:


Why Social Security is in Trouble


 

 

 

FROM  FLOYD

The Democratic Presidential Debate.

 

Well, the Democratic Presidential Debate was certainly different than what you have seen when the Republicans performed their circus.  Actually, in the true meaning of "debate," this was not a debate, but a discussion of various view points on various subjects.

 

It was a discussion of the problems of our country, and how each would address those problems as President.  There wasn't one dig at one another and in fact, there was some supporting of each other.  That comes to mind when Bernie set the country straight about using e-mails as part of the Republican Campaign tactics.

 

As far as winners and losers are concerned, I don't think there was one that really stood out.  I feel that Hillary and Bernie both came out very good.  Bernie had a real good interview after the close of the debate.  With regard to the other three, I felt that Martin O'Malley did well.  I was not at all impressed with Webb or Chafee.

 

Of course, I am a Sanders man and I was very pleased with his performance.  As soon as he left the stage, he sent an e-mail to all his supporters.  I am enclosing it here. 

 

First though, I want to point out that when the Republicans had there circus, all major networks carried it.  Not one media carried this tonight except, of course, CNN who sponsored the debate.  Those billionaire Republicans really control anything they want to.  We have got to get them out of this.  The Republicans have got to go.  They just have to go. 

 

Bernie for President

Immediately After the Debate

 

Floyd

I just walked off the debate stage and wanted to thank you.  This is the first time I’ve ever participated in a nationally televised debate, and it meant a lot to know that there were so many people cheering me on at thousands of debate watch parties and in their homes.

But this campaign isn’t about Bernie Sanders. It’s not a baseball game or a soap opera, and it shouldn’t be about anyone’s emails.  What this campaign is about is the grotesque levels of income inequality in this country, and whether we can mobilize our people to take back our democracy from a handful of Billionaires.  But it will take everyone coming together if that’s going to happen.

So, I want to ask you directly:

Make a contribution to our political revolution that will win the Democratic nomination, the White House, and take back our country from the billionaire class:

If you've saved your payment information with ActBlue Express, your donation will go through immediately:



( Our average contribution during the debate )




 

From Floyd:

 

I have $24.90 until payday which is next Monday the 19th.  That is all I have, but I gave $20.00 of that to Bernie tonight.  That's how strong I fell for him to be our next President.  I hope you can help support him too.

 

This country faces more serious problems today than at any time in modern history, and establishment politics will not successfully resolve them. Tonight we proved that not only can we win an election, but we can ensure no one who works full-time will have to live in poverty, that we can provide education as a right, and that we can guarantee health care for all Americans.

Make a contribution to our campaign today:


Thank you for your support.

In solidarity,

Bernie Sanders

~~~

Bernie Sanders: ‘Don’t be surprised if we do well with a number of Republicans’

 

Sen. Bernie Sanders (I-Vt.), widely regarded as the most liberal candidate in the Democratic presidential field, made a pitch Thursday morning for his potential appeal to a not-so-obvious segment of the electorate: Republicans.

 

Sanders, the self-described democratic socialist from Vermont, was a guest on MSNBC’s “Morning Joe,” where host Joe Scarborough, a former Republican congressman from Florida, nudged him to talk about areas of “crossover” with GOP voters.

 

Sanders, who has emerged as a surprisingly strong challenger to Democratic front-runner Hillary Rodham Clinton as he campaigns on a message of economic fairness, noted at the outset that he has several “strong differences” with many Republicans, including on the issues of abortion and same-sex marriage.

 

“But you know, Republicans have to send their kids to college,” Sanders said. “Working-class Republicans can’t afford to do that.  Working-class Republicans have seen their factories shut down and moved to China. Working-class Republicans are equally disgusted about a campaign-finance system which allows billionaires now to buy elections.”

 


 

Sanders has proposed free tuition at colleges and universities.  He has strongly opposed President Obama’s Pacific Rim free-trade accord.  And he wants to overturn a Supreme Court decision that expanded the ability for moneyed interests to influence elections.

 

“There are more than a few Republicans for Bernie Sanders out there,” Sanders said during the interview, which was taped Wednesday and aired Thursday morning.  “Don’t be surprised if we do well with a number of Republicans.”

 

Sanders has made a similar argument about the breadth of his appeal before, most notably during a speech last month at Liberty University, a conservative Christian school founded by the late evangelical Jerry Falwell.

 

During a convocation there, the senator told students that however stark their differences on social issues, they should agree there is “massive injustice” in the country’s economy and work together to address it. Sanders was greeted politely, but it was unclear how many supporters he gained.

 

While the Sanders claim certainly has its skeptics, aides point to his 2012 Senate re-election in Vermont, where he routed his Republican opponent with 71 percent of the vote.

~~~

 

COMMUNITY VIEWPOINT:

 SOCIAL SECURITY


Community viewpoint:


Why Social Security is in Trouble


By Allen W. Smith

Published: Tuesday, October 13, 2015




Much of the debate over Social Security today involves the question of whether or not Social Security is facing major financial problems.

As a scholar who has studied Social Security closely for the past 15 years, I can tell you that Social Security is in trouble, but not for the reasons usually pointed out. The primary problem facing Social Security today is that $2.7 trillion of its money is gone.

The Social Security Amendments of 1983, which included a hefty hike in payroll taxes, laid the foundation for 30 years of wrongful spending of Social Security money, and it fostered the deliberate deception of the American people for three decades. The intent of the legislation was to generate large Social Security surpluses for the next 30 years, to build up a large reserve with which to pay benefits to the baby-boomer generation.  But, the intent of the legislation was not followed.

None of the surplus revenue was saved or invested in anything. Instead, all of the $2.7 trillion in surplus revenue, generated by the 1983 payroll tax hike, was deposited directly into the general fund of the U.S. Treasury, where the dollars immediately became indistinguishable from dollars that were generated by income taxes or other federal taxes.  The money was spent to help finance wars, tax cuts for the rich, and other government programs.  Social Security didn’t see a dime of the actual money.  Instead, the Treasury issued nonmarketable IOUs to Social Security in exchange for the actual money.

There is much confusion about what the IOUs are, and what they are not.

First of all, they are not "real bonds" like the marketable bonds held by China and America's other creditors. The IOUs cannot be sold, even for a penny on the dollar, and they cannot be used to pay benefits. They are simply pieces of paper that represent a record of how much Social Security money has been spent for non-Social Social Security purposes. The existence of the IOUs is very useful to government officials and politicians when they try to explain what happened to the surplus Social Security money.

By law, surplus Social Security revenue is supposed to be invested in U.S. government bonds. This means that the money cannot be invested in the private sector. But, to be truly invested in government bonds, the surplus revenue must be used to purchase marketable bonds which can be resold in the open market at any time. This requirement would have been met if the surplus Social Security money had been used to purchase marketable U.S. Treasury bonds, as was the intent of the 1983 legislation.

This would have used up all of the surplus revenue, leaving no Social Security money for the government to raid and spend. But that was not done. None of the money was saved, and none of it was truly invested. Spending Social Security money and replacing the dollars with government IOUs does not constitute true investment.

The special IOUs are a creation of the Treasury. Their technical name is "special issues of the Treasury," but they are commonly referred to as "trust-fund bonds." The actual physical storage site for the IOUs is a fireproof file cabinet located at the office of the Bureau of the Public Debt in Parkersburg, West Virginia.

President George W. Bush visited the site and peered into the drawers of the file cabinet. He pointed out that the file cabinet was the closest thing to a trust fund that has ever existed. Later, in a speech at West Virginia University, Bush uttered the following words, "There is no trust fund, just IOUs that I saw firsthand that future generations will pay —will pay for either in higher taxes or reduced benefits or cuts to other critical government programs."

—Allen W. Smith, a retired professor of economics who taught at Eastern Illinois University, is author of seven books. He lives in First of all, they are not "real bonds" like the marketable bonds held by China and America's other creditors.  The IOUs cannot be sold, even for a penny on the dollar, and they cannot be used to pay benefits. They are simply pieces of paper that represent a record of how much Social Security money has been spent for non-Social Social Security purposes.  The existence of the IOUs is very useful to government officials and politicians when they try to explain what happened to the surplus Social Security money.

By law, surplus Social Security revenue is supposed to be invested in U.S. government bonds.  This means that the money cannot be invested in the private sector. But, to be truly invested in government bonds, the surplus revenue must be used to purchase marketable bonds which can be resold in the open market at any time.  This requirement would have been met if the surplus Social Security money had been used to purchase marketable U.S. Treasury bonds, as was the intent of the 1983 legislation.

This would have used up all of the surplus revenue, leaving no Social Security money for the government to raid and spend.  But that was not done.  None of the money was saved, and none of it was truly invested. Spending Social Security money and replacing the dollars with government IOUs does not constitute true investment.

The special IOUs are a creation of the Treasury. Their technical name is "special issues of the Treasury," but they are commonly referred to as "trust-fund bonds." The actual physical storage site for the IOUs is a fireproof file cabinet located at the office of the Bureau of the Public Debt in Parkersburg, West Virginia.

President George W. Bush visited the site and peered into the drawers of the file cabinet.  He pointed out that the file cabinet was the closest thing to a trust fund that has ever existed.  Later, in a speech at West Virginia University, Bush uttered the following words, "There is no trust fund, just IOUs that I saw firsthand that future generations will pay —will pay for either in higher taxes or reduced benefits or cuts to other critical government programs."

—Allen W. Smith, a retired professor of economics who taught at Eastern Illinois University, is author of seven books.  He lives in Frostproof.

~~~

If the good Lord is willing and the creek don't rise, I'll talk with you again about Sunday the 18th.

 

God Bless You All

&

God Bless the United States of America

Floyd

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