Thursday, July 28, 2011

Obama's Impeachable Social Security Threat

For the past two weeks President Obama's veiled threat to withhold social security checks on August 3 has influenced the debt ceiling debate. On July 12 CBS quoted the President as saying, "I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it." In fact, there are many alternatives to withholding Social Security such as furloughing employees in non-essential bureaucracies, such as the Departments of Labor, Education and Energy. Obama's use of Social Security for partisan purposes is fraudulent.

Social Security involved fraud from day one. In the 1930s, in order to convince Americans to accept it, the Democrats made two mutually contradictory claims, expressed by Professor J. Douglas Brown of  Princeton University.  The first claim was that Social Security is an insurance plan, secured through a trust fund, that will return a fair benefit to participants.  The second claim was that Social Security was a welfare benefit that subsidizes lower-wage Americans.  It did this by using a formula that provided proportionately higher benefits to the lowest salary levels.  It established pay bands, and the highest percentages were paid to the lowest salary bands.  Unless participants took the time to review the benefit structure, they could be easily defrauded into believing that Social Security was not a welfare plan but rather an insurance plan.  Fraud was the Democrats' marketing strategy.


The public was told that there is a trust fund. In fact, Social Security was designed as a pay-as-you-go plan, essentially a pyramid scheme that depended on consistent demographic growth.  But there was a depression followed by a baby boom that was followed by a baby bust.  Rather than hold good on its claim that there was a trust fund, Congress proceeded to steal the funds in the Social Security trust and used them for other purposes, chiefly to win votes.  Moreover, despite the lack of actuarial soundness, Congress raised benefits in the 1970s but could not fund the increased benefits.  Then, it decreased benefits in 1983 for people in their twenties and younger who were scrambling to make ends meet in a permanently declining and increasingly socialist economy.

In other words, Social Security was a fraud from day one; Congress has acted in ways that would put private sector benefit sponsors into prison; indeed, it has stolen the already insufficient funds about which it has consistently lied to the public.


Now President Obama commits an additional fraud.  Having scammed the American public into establishing a fraudulent program, having lied about the program's nature, having promised benefits it could not pay, having stolen the money that was put into the fund, Obama now threatens to openly breach the most elementary standard of fiduciary and moral duty to trust beneficiaries. He aims to use the fund as a partisan football.   If Obama were a private pension fund manager even threatening to use pension money for purposes other than designated by the trust would be a breach of fiduciary duty.

Obama's threat to use Social Security as a partisan football is a criminal act and an impeachable one.

4 comments:

Anonymous said...

The President has said, "I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue."

How can you and everyone else in the main stream (as well as the public) be as dumb as you all are? You as well as all others that are wasting their time blogging on the statement of "checks go out on August 3rd and can not be guaranteed."

Obama has you Mitchell Langbert pegged as an asshole, as well as most all others who don't have a clue and live their lives in dream world. Wake up Mr. associate professor of business at Brooklyn College who's holds a Ph.D. from the Columbia University Graduate School of Business, an MBA from UCLA and an AB from Sarah Lawrence College. I would think professors would do their own homework.

The US Post Office has to have 3 days to deliver those checks from print status to mailbox. They have to be printed prior to the 3rd day window. Midnight on the last day of the last month those checks are printed and are in the mail before the sun comes up. As well as EVERY electronic direct deposit of SS payments into bank accounts takes place ON THE 1ST OF THE MONTH!

Can't guarantee that those checks go out on August 3rd? I CAN! And I don't even have a high school diploma!

Sorry I was rude but, GET YOUR HEADS OUT OF YOUR THINK TANK BLOGGING ASS'S! sorry again, can't help the outburst. Please forgive me.

PS, Happy Birthday Obama August 3rd. oops, think his August 3rd birthday has something to do with the August 3rd deadline? hmmm.

Wake up people.

Mitchell Langbert said...

Do you think it might be more productive if you attack people who disagree with you rather than people who agree with you?

Anonymous said...

Yes Sir, I agree with your reply and I apologize.

I have been productive contacting, not attacking people who disagree, but all I see is everyone like you going into algebra, calculus, and endless history about nothing that has to do with the August 3rd deadline being a hoax and not commenting on the fact that all SS electronic direct deposit payments into bank accounts takes place on the 1st of the month, as well as the Post Office has to have 3 days to deliver those checks from print status to mailbox and they have to be printed prior to the 3rd day window.

Its all a Obama hoax. Where in your blog or any other blogs can we read that? We can't. You just ramble and all you come up with is,..

"there are many alternatives to withholding Social Security such as furloughing employees in non-essential bureaucracies, such as the Departments of Labor, Education and Energy."

"Social Security involved fraud from day one".

"The public was told that there is a trust fund. In fact, Social Security was designed as a pay-as-you-go plan, essentially a pyramid scheme that depended on consistent demographic growth."

"But there was a depression followed by a baby boom that was followed by a baby bust."

"President Obama scammed the American public into establishing a fraudulent program, having lied about the program's nature, having promised benefits it could not pay, having stolen the money that was put into the fund"

"Obama now threatens to openly breach the most elementary standard of fiduciary and moral duty to trust beneficiaries."

ETC, ETC, ETC.

Yes I agree with all your rambling, but that's not what this is about. It's Obama saying he can't guarantee the checks will go out on the 3rd. Blog on that. We already know all your ramble about blablabla long before this.

sorry for my rant

Mitchell Langbert said...

You're making a good point. It's just a hoax. I hadn't thought of that. Your point about the timing of the social security checks is good. Thanks.