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Oh, For Argument's Sake ... another AIM chat with Ommie -- mucho fun
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[QUOTE]Originally posted by Jay the Obscure: [QB] [QUOTE]So where does the supposed money in the trust fund come from?[/QUOTE] Supposed money? Oh my dear little boy. Ask you not these foolish questions lest not you should look so dumb. All you really need to do is read the previously posted link. Never fear, I'll post the information for you. The Law reads: [QUOTE]The amounts appropriated by clauses (3) and (4) shall be transferred from time to time from the general fund in the Treasury to the Federal Old-Age and Survivors Insurance Trust Fund, and the amounts appropriated by clauses (1) and (2) of subsection (b) shall be transferred from time to time from the general fund in the Treasury to the Federal Disability Insurance Trust Fund, such amounts to be determined on the basis of estimates by the Secretary of the Treasury of the taxes, specified in clauses (3) and (4) of this subsection, paid to or deposited into the Treasury; and proper adjustments shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or were less than the taxes specified in such clauses (3) and (4) of this subsection.[/QUOTE] There. No need now to bother with that nasty research problem. [QUOTE]As I said earleir in this thread, the money is a sham. The trust fund was raided, I'd guess to create the supposed surpluses of the Clinton administration, and Congress simply re-recorded the money as an asset. Just because I claim to have money doesn't mean that I do.[/QUOTE] How does one argue with this? The only conclusion I can reach is that you think that the whole of the Social Security Administration is LYING when they post about assets! Every single person who works there. [QUOTE]The OASI Trust Fund was credited with interest netting $53.5 billion which consisted of (1) interest earned on the investments of the trust fund, (2) interest on transfers between the trust fund and the general fund account for the Supplemental Security Income program due to adjustments in the allocation of administrative expenses, (3) interest arising from the revised allocation of administrative expenses among the trust funds, and (4) interest on reimbursements to the trust fund for costs associated with union activities and pension reform. The remaining $475,351 of receipts consisted of gifts received under the provisions authorizing the deposit of money gifts or bequests in the trust funds.[/QUOTE] Those fibbing bastards! Those OASDI Trustees can claim money on those damnable "Financial Operations Of The Trust Funds And Leglislative Changes In The Last Year" reports...$53.5 billion in interest alone but we know that that is just a lie! Toss the lot in jail!! Should we use facts? Dear Lord Vishnu, no. Make something up and blame it on Clinton! A long time ago, I went to Washington D.C. Had a good time, visited the monuments ect. Now I've not been back in years. I've seen no physical evidence of its existance before my very eyes. It therefore can not exist. That's a very interesting philosophy you've got there. Simon the Solipcist would love it. There is no [i]supposed[/i] money, no [i]alleged[/i] money...there is money in a Social Security Trust Fund. [QUOTE]Assets of the OASI Trust Fund, End of Fiscal Years 1999-2000: September 30, 1999: 762,170,038,441.29 September 30, 2000: 893,002,527,155.96[/QUOTE] Say that with me now. There is money in a Social Security Trust Fund. 893,002,527,155 dollars worth. And 96 cents. Will the facts of the law be good enough? Probably not. How about the factual statement of the assets in the Trust Fund? *shrug* Facts? Cold hearted facts is what he pretends to want. Is there a Trust Fund. Yes. Is it an aligation? No. It is a real thing. Am I presenting new information? Not at all. Both the "Total assets" fact and the factal text of the law came from two previous links I posted. Did he read them before posting? Obviously not. Someone conservative mouthpiece somewhere said there is no Social Security Trust Fund and Omega can't believe otherwise. Regardless of the facts, he remains convinced that day is night and night is day. He'll even post his unsustained beliefs [b]IN. BIG. BOLD. LETTERS.[/b] Omega is wrong, has posted misinformation, and spewed forth a distortion of the truth. Will he retract [b]THAT. BIG. BOLD. STATEMENT.[/b] the same way? Now way. It might be a wimper in the middle of some otherwise mindless post. [/QB][/QUOTE]
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