Obama’s Plan to buy Win Back Back Seniors’ Support
An article leading Yahoo! as I checked my e-mail late Wednesday night, Obama calls for $250 payments to seniors, suggests the President has not yet fathomed just how much the national debt has increased under his watch. I mean, in an ideal world, it’s all well and good to offer checks to seniors to make up for the absence of increase in Social Security payments this year as “increases are pegged to inflation, which has been negative this year.”
And it would be well and good if the money came from some rich benefactor who had a stash of cash lying around the house. Problem is, the President doesn’t have such a stash. And any cash he doles out comes not from reserves he earned or inherited, but from taxpayers currently living, their children and our descendants. Indeed,
Obama did not offer any alternatives to finance the payments. A senior administration official said Obama was open to borrowing the money, increasing the federal budget deficit. The official, who requested anonymity, was not authorized to speak on the record.
Not authorized to speak on the record? Hmmm . . .
And increasing the budget deficit? That does seem to be one thing this President excels at:
Methinks this is a political maneuver designed to force Republicans to choose between standing firm for their fiscal principles, potentially offending a segment of the population moving away from the Democrats and caving to the President. And he himself is trying to buy win back the support of seniors who have soured on him because of their opposition to Obamacare.
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Yes. Which includes most seniors who pay taxes not only on their retirement income but also, thanks to Democrats, on their social security.
Unless I am mistaken, Obama is proposing a tax rebate to people who actually paid taxes. This could be the most conservative thing he has done, and it is certain to be the closest thing to actual economic stimulus.
Unless I am misunderstanding his proposal, I’m actually for it. That and the White House vegetable garden are the two good things he has done since he took office.
Comment by American Elephant — October 15, 2009 @ 3:01 am - October 15, 2009
**BUT just because its the closest thing to actual economic stimulus does not mean it actually IS economic stimulus. From what I’ve read, one time rebates dont have much stimulative effect, it takes permanent tax cuts for that.
Comment by American Elephant — October 15, 2009 @ 3:05 am - October 15, 2009
ooh, thats what Republicans should do! Propose that it become a permanent tax cut! That actually would have stimulative effect, AND it will put Obama and Democrats right back on the defensive.
Comment by American Elephant — October 15, 2009 @ 3:06 am - October 15, 2009
Even a better idea, take the money from the worthless, corrupt “stimulus” — which hasnt worked, and much of which is being held in reserve to buy votes just before the next election.
Comment by American Elephant — October 15, 2009 @ 3:26 am - October 15, 2009
I’m glad we had this chat, AE! I think its been very productive!
Comment by American Elephant — October 15, 2009 @ 3:27 am - October 15, 2009
I well remember when $500 from Bush was ridiculed as not enough to buy a muffler for your old jalopy.
My wife and I each receive Social Security. We pay it right back in taxes. Tell me again why I should never have been allowed to have the money to invest on my own for all those years I had a gun to my head to make the Social Security payments.
Also, the Obamessiah is going to hack huge savings out of Medicare and steamroll the medical insurance industry. Why do I see a future of paying cash for boutique medical care at the country club?
It used to be said that growing old is not for sissies. It is also not for people who don’t fall under the politburo umbrella of superior government Bethesda Navy Hospital care or have only a few million dollars.
Comment by heliotrope — October 15, 2009 @ 9:21 am - October 15, 2009
Hey! Social Security is not bankrupt yet. The money can be paid under the current IOU system. It will just move the bankruptcy date closer. Much of the money will be taxed right back into the system and it also is not much different from the cost of living adjustments that were frozen.
Smoke meet mirror, mirror meet smoke, smoke and mirror meet hope and change. Don’t pay any attention to that man behind the curtain or the flying monkeys. And remember to grease your axlerod and don’t forget to ram your emmanuel right where it counts.
Comment by heliotrope — October 15, 2009 @ 9:28 am - October 15, 2009
Well, it shows that Barack Obama has, in his distain for our strongest allies in the Northern Hemisphere, forgotten what was learned in the 80′s. Socialism’s greatest flaw is that you eventually run out of other people’s money (with apologies to Maggie Thatcher).
Comment by The_Livewire — October 15, 2009 @ 10:30 am - October 15, 2009
Um, isn’t the COLA adjustment supposed to keep a senior’s SS income relatively the same as the world changes around them? So if inflation is negative, then the seniors already GOT a raise by virtue of not having their income cut? Right?
Or was I not supposed to do the math on this?
Comment by Less — October 15, 2009 @ 10:46 am - October 15, 2009
That would be true, if reality wasn’t that everything’s gone up. I can look at my grocery bill and see that.
Smoke and mirrors indeed.
Comment by The_Livewire — October 15, 2009 @ 11:29 am - October 15, 2009
Yeah, just keep printing money to buy votes. It worked for Mugabe in Zimbabwe.
Comment by V the K — October 15, 2009 @ 11:57 am - October 15, 2009
Less,
My sole point about the zero COLA raise is that the nearly bankrupt Social Security System didn’t have to fund it with IOU’s, ergo, the $250 Obamabucks that have suddenly materialized are partly “funded” by the rotten economy.
Gas and groceries have not gone up for seniors. There is no increase in the cost of living. We seniors have it made. Everything is lollipops and roses. I was a gold plated idiot to sock so much away when Social Security and Medicare are all anyone would ever need.
Now, if you are wondering if I enjoyed paying the full 15% FICA crap as a self-employed person, the answer is “no.” I wish I had been one of the legion of liberals who cheat the system and end up in the seats of power in government.
Comment by heliotrope — October 15, 2009 @ 12:28 pm - October 15, 2009
Can people really be bought for $250?
Comment by CattusMagnus — October 15, 2009 @ 3:08 pm - October 15, 2009
Someone who can be bought for $250 is more than likely not worth the effort.
Comment by Not Always Right — October 15, 2009 @ 6:57 pm - October 15, 2009