"Clown Prince" Weekly Blather; August 14th

A Patriotic Response To The "Clown Prince;" 08/14/2010
[9:00AM, 08/14:  Note to my four Washington, D.C., readers:  Thus far, I've been unable to access the Whitehouse.gov's text of obama's weekly blather/photo op.  I keep getting the "404" message: 'page not available.'  Curiouser and curiouser!!  Why is the video available but not the text??  Is obama/Soros afraid of the 'Patriotic Response?'  We'll keep trying!!]

August 14, 2010
Washington, DC
    Seventy-five years ago today, in the midst of the Great Depression, Franklin Roosevelt signed Social Security into law, laying a cornerstone in the foundation of America’s middle class, and assuring generations of America’s seniors that after a lifetime of hard work, they’d have a chance to retire with dignity. We have an obligation to keep that promise; to safeguard Social Security for our seniors, people with disabilities, and all Americans – today, tomorrow, and forever.  Now, we’ve been talking for a long time about how to do that; about how to make sure Social Security is healthy enough to cover the higher costs that are kicking in now that baby boomers are retiring. And I’m committed to working with anyone, Democrat or Republican, who wants to strengthen Social Security. I’m also encouraged by the reports of serious bipartisan work being done on this and other issues in the fiscal commission that I set up several months ago.  [What I'm not telling you:  FDR and his administration--much like myself, my handler group, my administration and modern politicians of all stripes--took 'great liberties with the truth.'  Roosevelt, in order to gain support, calmed the nations' privacy fears by assuring the public that the social security number WOULD NEVER BE USED FOR ANY OTHER PURPOSE!!  How's that falsehood workin' out for ya?!?!  There are dam' few transactions--public or private--that can be conducted without revealing an individual's SSN!!  Now on to the modern era:  Remember when the congress swore that all the social security taxes collected would go into a 'federal lock box,' not to be used for ANY OTHER PURPOSE??  How's that lie workin' out for the workers' retirement forecasts?!?!  When those funds were to be segregated into a lock box, they were to be invested in government securities, allegedly the safest in the world.  Now that my handler group has had me decimate the national economy, those 'safest-in-the-world' securities now have annual dividend returns of zero-point-shit!!  EVEN IF the congress hadn't pissed away the social security tax receipts, they couldn't possibly earn enough to meet retirement obligations.]
    One thing we can’t afford to do though is privatize Social Security – an ill-conceived idea that would add trillions of dollars to our budget deficit while tying your benefits to the whims of Wall Street traders and the ups and downs of the stock market.  A few years ago, we had a debate about privatizing Social Security. And I’d have thought that debate would’ve been put to rest once and for all by the financial crisis we’ve just experienced. I’d have thought, after being reminded how quickly the stock market can tumble, after seeing the wealth people worked a lifetime to earn wiped out in a matter of days, that no one would want to place bets with Social Security on Wall Street; that everyone would understand why we need to be prudent about investing the retirement money of tens of millions of Americans.   But some Republican leaders in Congress don’t seem to have learned any lessons from the past few years. They’re pushing to make privatizing Social Security a key part of their legislative agenda if they win a majority in Congress this fall. It’s right up there on their to-do list with repealing some of the Medicare benefits and reforms that are adding at least a dozen years to the fiscal health of Medicare – the single longest extension in history.  [What I'm not telling you:  Anyone with a modicum of economic knowledge and intelligence would say that at least partial privatization of Social Secuity IS THE ONLY RECOURSE!! From my fascist point of view, there's a couple of things wrong with this 'privatization' scenario:

• The government would lose ALL CONTROL of the pre-determined percentage of privatized monies.
• In the 'control' vein, the government MUST establish a COMPLETELY INDEPENDENT board of governors to determine the investment strategies, investment vehicles, other variables pertaining to investors vs investments.

I don't foresee this happening; the politicians OF ANY PARTY will not relinquish control of tax receipts--for any purpose that does not directly benefit them!!  The congress [including myself, during my 142 days of federal experience] certainly DID NOT LEARN from their past mistakes!!  The single best thing to do for the continuation of Social Security as we know it, is to re-establish and adhere to the provisions of the LOCK BOX strategy!!!  Excepting myself, my handler group and my administration, any incompetent boob knows that the stock market is the ONLY PLACE TO ACTUALLY make a profit in investments over time.  Assuming that I'm thrown out on my ass in the next election, the stock market will continue to grow to it's previous highs.  The stock market HAS ALWAYS returned even after the devistation of 'The Great Depression' and IT WILL after my very own 'Great Recession!!'  Given the history of the lengths of the recovery periods, the privatization should not apply to those over 50 years old;  the stock market historically operates on 10 year cycles. Let's look at a conservative (UGH!! That term!!) example:

• Let's say an average worker in the U.S. earns $35,000 annually. 
• The current Social Security tax on those earnings is:  6.2% or $2,170, annually.
• Let's say the privatization board of governors deemed (shades of 'Geeze-Louise' Slaughter!) a maximum of 15% of the tax receipts could be invested, in this case:  $325.50 per year. 
• Let's further say that this mythical worker has a working-life of 25 years, averaging the aforementioned $35,000.  The worker will have privatized a principal of $8,137.50-a rather miniscule amount.
• With a realistic 4% average annual return over 25 years, the worker would have $109,814 {20 years-$76,944; 15 years-$40,560; 10 years-$18,590; 5 years-$5,070}.

[08/16 Addendum: 26 year (1973-2009) stock market average: 17.1%!! BUT WAIT.... The "Clown Prince's" Handler Group haven't really put their minds to it's total destruction!!  A distinct possibility now that Soros has purchased a portion of the Indian stock market!!!]

I seriously doubt that either myself, my handler group or the congress would--or could--give up  control over the vast amount of private monies that would be generated if only 1,000,000 taxpayers took advantage of this investment!!]

      That agenda is wrong for seniors, it’s wrong for America, and I won’t let it happen. Not while I’m President. I’ll fight with everything I’ve got to stop those who would gamble your Social Security on Wall Street. Because you shouldn’t be worried that a sudden downturn in the stock market will put all you’ve worked so hard for – all you’ve earned – at risk. You should have the peace of mind of knowing that after meeting your responsibilities and paying into the system all your lives, you’ll get the benefits you deserve.  Seventy-five years ago today, Franklin Roosevelt made a promise. He promised that from that day forward, we’d offer – quote – “some measure of protection to the average citizen and to his family against&hellippoverty-stricken old age.” That’s a promise each generation of Americans has kept. And it’s a promise America will continue to keep so long as I have the honor of serving as President.  [What I'm not telling you: Ah-Haaa!!  You're about to hear ONE TRUISM from me!!  The privatization agenda IS WRONG FOR SENIORS!! Given the ups-and-downs of any market-controlled investment, the privatized retirement system is only for the young workers and should have an automatic and non-negotiatable point at which all invested funds would be transferred to a money-market account also controlled by the same board of governors.  President Roosevelt's promise...... that one about "poverty-stricken old age......" yea that one.....; It was wonderful prose, but the premise went 'away' with the advent of an on-going fascist congress, wealth re-distribution and communistic levels of control over every aspect of American human life!!!!!]