Rep. Marsha Blackburn floats Social Security privatization

[babylonsister]

Run time: 03:01 https://www.youtube.com/watch?v=1hnmc7IDNL4   Posted on YouTube: February 09, 2010 By YouTube Member: Views on YouTube: 0   Posted on DU: February 09, 2010 By DU Member: babylonsister Views on DU: 1348

 
http://thinkprogress.org/2010/02/09/blackburn-privatize-socialsecurity/

snip//

While Varney seemed supportive of the idea of subjecting the retirement safety net to the whims of the stock market, he rightly noted that President Bush’s attempt was “roundly rejected.” Indeed, if Bush were successful at his push to do what Ryan and Blackburn are proposing now, seniors would have lost tens of thousands of dollars in the 2008-2009 market plunge.

[madrchsod]

1. marsha! marsha! marsha!

good god i`d hate to be forced to marry that sour-puss.:rofl:

i`m sure all the seniors in her district are thrilled with her idea....

[sallyseven]

2. She is vain, stupid, and ignorant

She belongs in a brothel. That is where her brain would be acceptable.

[xxqqqzme]

8. She doesn't give a rats ass

Congress has their own pension fund. Her health care and retirement are tax payer funded. She just fine w/ socialized healthcare & retirement for HER.

[OHdem10]

3. Do the GOP believe the young people will support them? The

younger people will trust the Stock MKT more than older
people.

After this crisis, I ask where do young people stand.

[SteppingRazor]

4. For the most part, young people are convinced that the entire thing is a waste of time...

as they'll never see a dime of social security by the time they're ready to retire. I'm not saying that's the case, but that is the perception.

[rasputin1952]

5. The REAL problem...

For years, the "excess" SS funds, (those that weren't necessary for immediate and near future payouts), has been stolen from the fund to pay off tax cuts pushed by the R administrations, and pulled out of the fund by a compliant congress that refused to put pressure on the hemorrhage. D's can take blame as well...but the whole thing is dysfunctional, not because of "bureaucracy", but by blatant theft, pushed by R's to cover the national debt they tossed us into.

They did this with open eyes and under the pretense they could "kill" SS by just absconding with the funds. Trillions have disappeared to pay for those tax cuts that benefited only the wealthy!



Blackburn needs to roast on a spit because she is lying through her teeth...and I'm willing to bet she won't be returning any SS checks she'll be getting...just as the rest of the bastards aren't returning theirs. Reagan received SS, CA retirement benefits from being governor, presidential retirement benefits, benefits from the Actors Guild...and benefited under the GI Bill during and after WWII...and he never left Hollywood during those years!

The blatant hypocrisy of these people should have them all bursting into flames at the mere mention of SS and other benefits!!!...:grr:

[Enthusiast]

9. This is the entire point

that is NEVER mentioned by the M$M. If it was mentioned the GOP would have to be held to account for the Reagan tax cuts and the W tax cuts. So we don't get to hear the truth.

Actually the Social Security trust fund is FLUSH! It's just that the trust fund doesn't actually exist because it was given to millionaires.

The GOP didn't just recently start stealing the country's largess, they started clear back under Saint Ronnie. I suspect he is Saint Ronnie because he allowed them to get the heist started. No wonder they worship him as they do.

[rasputin1952]

12. It was one of the ways to "bust" Social Security...

For some incomprehensible reason, these people actually "WANT" to bring back extreme poverty...they have absolutely no moral bearing what-so-ever. They are monsters created mostly by inherited wealth, somehow believing they are more adept at creating some form of "moral ground" than anyone else. These are precisely the people the Founders set up the Constitution to protect us from...after setting off a war to get away from this type of government.

They nevue-riche have never been accepted by "old money", and those that get wealthy in the market are seen as upstarts by the old money barons. We have fallen for this in the past, and we must never allow this to happen again. The object is to set up a "new" feudal system where everyone works in poverty for the landed gentry. It has always astonished me that people would actually vote any of these clowns into a position of power...they should be crushed under the heel of the citizens, tarred and feathered...imprisoned for being the thieves they are.

[Enthusiast]

17. I share your thoughts exactly.

A friend of mine, my age, died recently. He was dripping in right wing ideology. He told me once ",You have to keep people hungry or they won't work." He said this to me knowing I felt the opposite. He would never consider any other point of view. Anyway, he was born well off, not exactly Vanderbilt stuff, but well off for our area.

[rasputin1952]

18. It is a mindset...

We see it all of the time, and we just let it go on...unchallenged.

We "justify" our own beatings, it's as if we are flagellates...all it takes is a few to stand up and ask..."Why?"

:hi:

[Cha]

11. Wouldn't that make a different kind of movie?

Regressives imploding whenever they started in with their hypocrisy?

Some Liberal Hollywood writer could do something with this..it would be tragically hilarious.

Would the hypocrites get the message? Would they stop in time before they were all annihilated?

The corporatemediawhores would be some of the first to evaporate}(

Thanks for reminding us, Ras..just why the Social Security fund in so low.

[rasputin1952]

16. God, I'd love to see that!...

:rofl:

[berttheturk]

14. I heard someone last night say that the problem with SS is that it is "under funded."

My immediate response was, "it's not and has never been 'under funded,' but it has been 'raped' by our nation's politicians - on both sides of the isle." It burns me up that the money that was paid in was taken out for other purposes!!

:argh:

[rasputin1952]

15. Most of that money went to cover tax cuts the wealthy received...

It started under Reagan, (remember "trickle down"?). The money gushed into the coffers of the wealthy that couldn't give a damn about anyone else, then they used it in speculative markets losing a lot of it, but gaining far more. That drove the Stock market up, but did nothing for the common man...the stock Market has nothing to do with the baseline economy...unless it crashes!

People need to get out and toss these people into the street, make them actually earn a living, they'd be dead in less than hour.

[berttheturk]

20. I'm not quite old enough to remember the Reagan era, but who

was in charge of congress then, Republicans or Democrats?

I too think the stock market is a racket. But if the "base line economy" is affected when the market crashes, wouldn't it affect the economy when it goes up in value as well?

Your last statement is profoundly true!!!!

[rasputin1952]

22. The Senate went GOP for the first time in almost 3 decades...

the House remained under control of the D's for quite some time though. The situation evolved where many middle to R leaning House members went along w/him on numerous ideas, and set the stage for the disasters that we eventually came upon.

Possibly the biggest problem he started was the push for almost immediate deregulation, which brought in unbridled greed and all kinds of nefarious activities. Carter had begun a slow deregulation of some aspects, but Reagan pushed for the floodgates to come down. This in turn led to massive buy-outs over time that consolidated financial power into the aptly named, "too big to fail" entities.

Here is a serious flaw in all of this...those that played various markets, since deregulation, have not played in them with their own money...they speculated with other's money, so they had no reason to use any caution at all. If they failed, they lost nothing, but if they gained, the money used showed a modest rise, for those who had saved, but monumental profits in "fees" and the like for those that used the money to speculate.

It's a grab bag of hostile mergers, invasion of retirement funds, and the Treasury bailing out any failure. The Dogs were et loose...and there was no way to call them back.

One edit to your question...No...they toss more money into the fray, and that actually diminishes the power of the market. Then, the "fees" and "cost overrides" dip into any profits made. Remember, they are not using their own money, so the cycle continues into very risky territory. The losses can be horrendous. Never underestimate the power of greed, especially when it comes without any ramifications.

[flyarm]

6. seniors did lose millions upon millions in the stock market ..and in everything else..

and are getting no cost of living increases..

come on down here to Fla ..land of seniors and stand in a grocery line..and see how many now are on food stamps..many get very embarrassed..but they also come with stacks of coupons as well..and many are having to decide between food and meds..because many many many lost their savings and the money they saved in the stock giants that are now worth nothing!

[Mari333]

7. exactly

the 401Ks went into the toilet. seniors lost their savings. seniors are, I hope, smart enough to know that if the bankers try and take over SS it's a lost cause. they will squander it into oblivion like they did retirement pensions and savings.

[Enthusiast]

10. And those responsible came out

like, well........BANDITS.

[husky92]

13. She is Crazy and Her Voice in SOOOO Grating!

What is with the Republicans and their want to privatize everything in this country. They hate anything to do with the government, but they'll take everyone's money and let the Wall Street boys run with it. I'd like to ask them, who is going to run this privatized SS plan. Their corporate friends on Wall Street. Just think of all the money those bastards would make.

[Uncle Joe]

19. Kicked and recommended for rasputin's posts on this thread.

Blackburn is corrupted and trying to sell snake oil.

Thanks for the thread, babylonsister.

[The Wizard]

21. Marsha will be the GOP VP candidate in 2012 (NT)

[sulphurdunn]

23. It never ceases to amaze

me how social programs are always "unfunded mandates" while corporate subsidizes, tax breaks and bailouts are not. All government spending is for unfunded mandates. That's why we have taxes. The only legitimate argument is about how those taxes are spent. Conservatives hate Social Security because the private sector doesn't get a big cut of the action.