Moral Outrage
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Posts Tagged ‘Social Security

What the Military Budget has to do with the US Federal Budget Deficit and Debt Ceiling

July 24, 2011

The bond rating agencies that gave junk derivatives triple-A ratings threatened to downgrade US Treasury bonds if the White House and Congress do not reach a deficit reduction deal and debt ceiling increase. Meanwhile, the total military/security budget is in the vicinity of $1.1-$1.2 trillion, or 70% -75% of the federal budget deficit. [Yet another […]

Compare Venezuelan President Chavez with US President Obama

February 9, 2011

Hugo Chavez was busy handing out laptop computers to second graders at a school in Caracas. After that, the Venezuelan president rushed off to a food distribution plant which is providing $110 million in prepared meals for Venezuela’s poor. Finally, he ended his afternoon by making an appearance at one of the many construction sites […]

The history and future of Social Security

December 21, 2010

While Reagan proposed making Social Security voluntary he raised the future retirement age to 67, made it more difficult for the disabled to claim benefits and forced the self-employed to pay 100 percent of payroll taxes. Then under Clinton, according to some economists, inflation was understated to suppress cost-of-living adjustments, resulting in benefits that should […]

Social Security Myths

December 21, 2010

As researched and presented by Myth 1: Social Security is going broke. Reality: There is no Social Security crisis. By 2023, Social Security will have a $4.3 trillion surplus (yes, trillion with a ‘T’). It can pay out all scheduled benefits for the next quarter-century with no changes whatsoever. After 2037, it’ll still be […]

Social Security benefits to be cut in half?

October 25, 2010

Have you heard about the Republicans’ plan deemed to dramatically reduce Social Security benefits for the oldsters of America? A high-profile Republican budget plan appears it would slash Social Security benefits in the long-run — perhaps even by up to half of what they are now, as concluded in a new study. “The new analysis […]

Today’s U.S. wars could cost future generations $4 trillion to $6 trillion

October 1, 2010

The authors of the book “The $3 Trillion War” noted in a conference call on Wednesday that when they first released their findings two years ago, the estimates were widely criticized as being too high. Now, the researchers believe they may have been too low. Joseph Stiglitz, who received the 2000 Nobel Prize for Economics, and […]

Doing the math – 100 million Americans living in poverty

September 23, 2010

The shocking new poverty statistics from the Census Bureau indicate that a record 43.6 million Americans lived in poverty in 2009. However, there is reason to believe this Census figure drastically undercounts this demographic. The 2008 Census total stated that 39.8 million Americans lived in poverty. But the National Academy of Science did its own study and […]

US poverty rate highest in 51 years

September 17, 2010

The income of American households fell only slightly last year but the number of people in poverty has reached its highest level in 51 years, the Census Bureau reports. 2009 marked the third consecutive annual increase in U.S. poverty levels. Child poverty passed the 20% threshold for the first time since 1996, fueled by a […]

Our Choice: Bomb Afghanistan, or Rebuild America

July 22, 2010

The current war in Afghanistan costs in excess of $48,000 a minute. Meanwhile, a National Commission on Fiscal Responsibility and Reform is talking about cuts to Social Security, Medicare and the home mortgage deduction to address the nation’s growing budget deficit. The average cost to deploy a soldier to Afghanistan for a year is $1,000,000. […]

Those making financial decisions for us have little in common with us

May 21, 2010

Many of us who work each day have no concept of wealth. Consider Treasury Secretary Geithner, who was a senior fellow for the Council on Foreign Relations before moving on to the Federal Reserve. Before Geithner ever joined the Obama administration, his take home pay was around $7,000 per week, just like yours. What? You […]