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Tag Archive: Social Security


Published time: January 04, 2014 02:10
Edited time: January 05, 2014 16:00

U.S Treasury Facility Prints Social Security Checks (AFP Photo / William Thomas Cain)

U.S Treasury Facility Prints Social Security Checks (AFP Photo / William Thomas Cain)

A small, elite group of US citizens has already met their 2014 financial obligation for Social Security two days into the New Year, and will no longer be required to contribute any of their income to the federal program.

Nearly all working Americans will continue to pay the social security tax through the duration of 2014. The 900 wealthiest, however, have fulfilled their responsibility for the whole year on Thursday by earning $117,000 – the maximum total social security is allowed to take from an individual income each year – on the first and second days of the month.

Teresa Ghilarducci, an economics professor at the New School for Social Research, wrote that if everyone eligible paid all year long, “the Social security system would be solvent indefinitely and they still would be the richest and prettiest in all the land.”

Exactly who made enough money to qualify for the end of Social Security payments will be difficult to ascertain until the end of 2014, but by January 2, 2012, 894 individuals across the nation had already fulfilled their commitment. The Los Angeles Times noted that this exclusive club was made up of mostly corporate CEOs who were not in the 1 percent or .01 percent, but rather the .0001 percent of high income earners. Executives at NewsCorp, Philip Morris, Pfizer, ComCast, and Starbucks all made up 70 of the 894 that year.

 

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Devastating Trump Card

Business Insider

bridge cards trump card

Bruno Vincent/Getty

The shutdown battle has become, essentially, a high-stakes blame game.

Republicans tried to raise those stakes yesterday by offering a piecemeal plan to reopen popular parts of the federal government, in the hopes that it would be politically costly for the Democrats to oppose things like aid to veterans. The bill failed to move forward.

But in a note to clients, Potomac Research Group’s Greg Valliere says that President Obama still has one “trump card” of his own left to play, Social Security:

THE HEAVY ARTILLERY:  We have thought for weeks that Obama would play the Social Security trump card if there was no deal on the debt ceiling by mid-October. This is one of several reasons why we think a default is unlikely, and it’s one of several reasons why Boehner will capitulate; the only questions are when and under what terms. We think he may get a few crumbs, but no major concessions.

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Obama Just Played His Big ‘Trump Card’ On The Debt Ceiling

Business Insider

Brett LoGiurato Oct. 3, 2013, 11:59 AM
Barack Obama
Early Thursday morning, Potomac Research Group analyst Greg Valliere predicted that if the debt-ceiling deadline grew closer, President Barack Obama would play his “trump card” in the debate. He would remind seniors that if Congress doesn’t raise the debt ceiling, seniors wouldn’t get their Social Security checks.”GOP strategists like Karl Rove surely know that it’s just a matter of time before President Obama throws a game-changer — warning senior citizens that their Social Security checks won’t be mailed because of John Boehner,” Valliere wrote in a note to clients.A few hours later, Obama did just that during a speech at M. Luis Construction Company in Rockville, Md. He spent much of the speech warning that while the ongoing government shutdown was damaging, failure to raise the debt ceiling by an Oct. 17 deadline would be even worse.

“In a government shutdown, Social Security checks still go out on time. In an economic shutdown — if we don’t raise the debt ceiling — they don’t go out on time,” Obama said. “In a government shutdown, disability benefits still arrive on time. In an economic shutdown, they don’t.”

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WHEN INJUSTICE BECOMES LAW, RESISTANCE BECOMES DUTY.

Freedom Informant Network  |  May 25, 2013

Written by Lee Daiber

The entire world is waiting – watching for your signal, your cue. They wait for the call of your voice, the announcement of your arrival. This sleeping giant grows restless with unease. The silence breeds madness in the desperation of so many set in the very ways that inspire their own hopelessness – too dependent on the system around them to make the first steps toward liberation; too afraid to leave the comforts of miserable  domestication  by the state.  It’s your voice they wait for, your initiative to take heed of your responsibilities to the world around you should you have the courage to take a stand in the face of overwhelming odds. After all, this is your future we are talking about.

Many of you may be students – some preparing to begin college, others perhaps already in the midst of pursuing a “higher education”. Regardless, you have no doubt noticed the unacceptably, unjustified high cost of tuition – the price you pay for a promising and semi-successful future. Yet, that promise (or illusion of promise) has become increasingly less convincing in a world where a high percentage of college graduates not only fail to find a career in their field of study, but a growing percentage end up so financially strapped from student loan debt and lack of sustainable income that they find themselves moving back in with their parents after four or more years of college education. What is the sense in accumulating massive amounts of debt pursuing a degree that provides absolutely zero certainty of financial well-being? You do not need a college education to wait tables or prepare fast-food orders, and yet a growing percentage of college graduates find themselves doing just that.

This is the new age – same as the last. War, poverty, violence, corruption and injustice plague our world and continue to spread throughout. The system – this system in which we live has become destructive and violent. The machine that drives it is composed of the planet’s most powerful financial, governmental, and corporate entities pursuing even more power and profit. We have used our most incredible technological discoveries and scientific breakthroughs for means of destruction and financial gain, meanwhile suppressing advancements to free society from controlled resources. Domestic surveillance programs are expanding at a rapid pace by governments around the world with the United States seemingly taking the lead. All forms of digital communication are subject to being monitored without warrant or reason through programs like Trapwire, Stellar Wind, ARGUS and more. Your privacy is now a thing of the past all in the name of state-sanctioned “security” from the very threats that the state propagates and encourages you to fear.

This imperial system is racist, violent and murderous. Profit outweighs fairness and ethical practices. The financial growth and expansion of multinational corporations and institutions rests upon the shoulders of the people of this planet – crushing our backs beneath the demands of the system. Our livelihoods are minimalistic in comparison to the top echelons of big-business and world banking – a struggle that has encompassed the globe. We spend our lives pursuing fiat-currency – paper that holds no value other than that which is dictated by the very system that preys upon the common person. These entities have infiltrated governments around the globe and impose great influence on policies and decisions; their interests pushed ahead of the interests of the people and often cause further suffering and/or injustice. Your livelihood, your quality of life and in many circumstances, the longevity of your life is dependent on your financial well-being – binding you to commit your obedient consent to the system which denies you of your basic human needs without first paying the price. Any decent, sensible human-being can understand the problem this entails. Chances are, deep down you already know something just isn’t right in this world.

The fact that this is the harsh reality is not your fault. The events that have come to pass that have led to our current situation were beyond your control and set in motion before many of you were even conceived. However, if you continue to stand idly by and allow these occurrences to take place without standing for what is right and just, without standing for a better future, then the truth of the matter is you will be all there is to blame. Stop settling for “just the way things are” – it does not have to be this way. Only in our own apathetic dismissal and inaction do we restrict ourselves to such confines. Do not make the same mistakes as previous generations. Resist society’s push to conform you into a set path that is clearly failing. Stand up for what is right – strive for a better world where fairness, justice and equality are doctrine, and compassion, empathy and sustainability are paramount.

Think outside the box. Question everything. Begin thinking in revolutionary ways. Forget everything you have been told. Is the current modus operandi the best way? The only way? What can you do to impact the world around you? Take the lead – set the example. Become actively engaged in the world around you and begin educating yourself not only with current world events, but look to history for lessons. Discover ways to become less dependent on the system and promote a much more self-sufficient lifestyle. Utilize technology in ways that empower you, your community and the world. Vast resources and information are at your disposal and the only thing that has prevented you from utilizing these materials is society’s push to focus on distraction and entertainment. Find enjoyment in dissent. Take pride in your activism and encourage others to do the same. Stop the mindless pursuit of self and instead practice empathy and compassion. Do what you can to make life better for others and find reward in your actions. After all, is a life lived for yourself more gratifying than a life lived for others? Will you be remembered for selfish, material success or for selfless commitment?

Where do go from here?

When one begins to recognize the faults and fallacies of our modern world, it is quite easy to become overwhelmed. You want to make a difference; you desire a change, and yet the concept of changing the world becomes such a large task that many simply choose to give up on the idea altogether. It is easy to see how we ended up where we are today when you realize this. However, with the advancements in technology and the opportunities brought to the table via the internet, many of the traditional barriers and obstacles encountered by previous generations of activists and concerned citizens are a thing of the past. With the capability to bring people together from all over the planet and present ideas to the masses, the internet provides us with nearly infinite possibilities, resources, tools and potential if only we utilize it properly and efficiently. Coupled with the efforts of traditional activism, i.e., flyer hanging, pamphlet disbursement and good old-fashioned demonstrations, marches and protests, we the people are capable of making a substantial impact – perhaps more so than we even give ourselves credit.

The true power in this world belongs to the people. We are the gears in the machine, the cogs that keep this system in motion. Our hands built the roads, buildings and other infrastructure. Our daily lives finance the operation of the machine. Simply put, we are holding all the keys and the only obstacles in our paths are ourselves. Our own manipulated perspectives of reality are holding us back, preventing us from stepping through the doorway to a more peaceful, reasonable existence. Never doubt the power of an informed people, actively engaged and fearlessly standing against injustice. The power that the people hold with civil acts of defiance are simple, efficient and effective and in the face of injustice, it is the duty of the people to stand firmly in opposition. Where do we go from here? Ultimately, we are the answer to our own question. We must turn to one another, recognize our common fate, our shared and equal existence on this planet and our shared duty to establish a more stable, sustainable way of life in harmony with our surroundings and with respect for our planet. We the people will either become our salvation from destruction, or our own demise.

A simple solution needs only commitment, organization, a plan of action and consistent momentum. Certainly nothing is ever accomplished without first making a commitment to not only become involved,  but to stay involved through the process. We do not have the luxury of dismissing our own individual responsibilities, lest we ourselves become a part of the problem. Organization is key to success in most circumstances and certainly helps activists become more effective in their efforts. Obviously, if a movement of any variety lacked organization it would merely become a chaotic and ineffective mess. Strategy, planning and organization will provide a sense of solidarity and a clear direction for action. Most importantly, without continued dedication and momentum, even the most organized and planned out movements are doomed to stagnancy. To prevent this from happening and to assist in the first steps to addressing the problems, I will break down a simple plan for us to begin our path to true effective change in three basic steps.

Read Full Article Here


Image Source

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By Stephen Lendman

 

Obama’s Failed State

February 14, 2013 “Information Clearing House” – Obama’s State of the Union address didn’t surprise. It reflected rogue leadership. It was beginning-to-end demagogic boilerplate.

Defending the indefensible took center stage. Rhetoric substituted for progressive policies. Bombast assured business as usual.

Priorities include waging war on humanity, force-fed austerity, ignoring public needs, institutionalizing a repressive police state apparatus, and cracking down hard on non-believers.

Doing so assures growing despotism, lawlessness, poverty, unemployment, homelessness, hunger, and deprivation.

 Obama’s address targeted Medicare. He called “medical care for the aged….the biggest cause of the nation’s longterm debt.”

He lied. Military spending, imperial wars, Wall Street bailouts, other corporate handouts, and tax cuts for the rich and business bear full responsibility.

Falsely blaming Medicare for Washington’s malfeasance reveals bipartisan rogue leadership. It’s indicative of what’s to come.

In 2009, Obama prioritized cutting healthcare costs and “restoring fiscal discipline.” He made doing so the top “pillars” of his agenda, saying:

We’ve “kicked this can down the road. We are now at the end of the road and are not in a position to kick it any further.”

“We have to signal seriousness in this by making sure some of the hard decisions are made under my watch, not someone else’s.”

“The big problem is Medicare.” Its cost is “unsustainable.”

 “Let’s not kid ourselves and suggest that we can solve this problem by trimming a few earmarks.”

 The “biggest cost drivers in our budget are entitlement programs like Medicare, Medicaid, and Social Security, all of which get more and more expensive every year.”

 “If we want to get serious about fiscal discipline – and I do – we will have to get serious about entitlement reform.”

 Medicare and Social Security aren’t entitlements. They’re insurance programs. They’re funded by worker/employer payroll tax deductions. They’re contractual federal obligations to eligible recipients who qualify.

 Obama did what he does best. He lied. He’s a serial liar. He supports wealth and power. He’s beholden to powerful monied interests. They own him. He spurns popular needs. He prioritizes letting them go begging on his watch.

 He proposed massive Medicare cuts. In 2010, 2011, and last November he urged more. He’s waging class war on Americans.

 He wants fundamental social benefits destroyed. He wants ordinary people hung out to dry. He wants them on own sink or swim.

 In 2010, his Simpson-Bowles National Commission on Fiscal Responsibility and Reform (NCFRF) recommended deep Medicare cuts, higher Medicaid co-pays, and restrictions on filing malpractice suits.

 It urged other ways to end Washington’s responsibility for healthcare. Obama’s address reiterated support. Implementation assures disaster for millions.

 Healthcare for millions already is unaffordable. Implementing Simpson-Bowles makes it more so when most needed. Illnesses will go untreated. Pain, suffering, and early deaths will follow. Rogue leadership assures it. Obama reflects the worst of irresponsible lawless leaders.

 His jobs proposals reveal more. His address rehashed old schemes. His September 2011 “American Jobs Act” promised “putting more people back to work” with no plan to do it.

 It showed contempt for ordinary households. It was same old, same old. It concealed another thinly veiled wealth transfer scheme.

 It included a laundry list of corporate handouts. Excluded were ways to create jobs, stimulate growth, reinvigorate Main Street, strengthen America’s middle class, and help growing millions of impoverished, disadvantaged households most in need.

 Obama’s address claimed trade deals offshoring jobs to low wage countries create them. He urge support for current ones being negotiated.

Read Full Article Here

By Michael
The Economic Collapse

The Number Of People On Welfare Exceeds The Number Of People With Jobs In 11 StatesAmerica is rapidly becoming a nation of takers.   An increasing number of Americans expect the government to take care of them from the cradle to the grave, and they expect the government to dig into the pockets of others in order to pay for it all.  This philosophy can be very seductive, but what happens when the number of takers eventually outnumbers the number of producers?  In 11 different U.S. states, the number of government dependents exceeds the number of private sector workers.  This list of states includes some of the biggest states in the country: California, New York, Illinois, Ohio, Maine, Kentucky, South Carolina, Mississippi, Alabama, New Mexico and Hawaii.  It is interesting to note that seven of those states were won by Barack Obama on election night.  In California, there are 139 “takers” for every 100 private sector workers.  That is crazy!  The American people have become absolutely addicted to government money, and it gets worse with each passing year.  If you can believe it, entitlements accounted for 62 percent of all federal spending in fiscal year 2012.  It would be one thing if we could afford all of this spending, but unfortunately we simply cannot.  We are drowning in debt, and we are stealing more than a hundred million more dollars from future generations with each passing hour.  No bank robber in history can match that kind of theft.

Yes, we will always need a safety net.  There are many people out there that simply cannot take care of themselves.  We certainly don’t want to see anyone sleeping in the streets or starving to death.

But if the number of people jumping on to the safety net continues to grow at the current pace, the net will break and it will not be available for any of us.

For example, the number of Americans on food stamps grew from about 17 million in 2000 to more than 47 million today.  It nearly tripled in just 12 years.

What will happen if it nearly triples again over the next 12 years?

The federal government even has a website (benefits.gov) that guides people through the process of figuring out what welfare programs they can take advantage of.

Overall, the federal government runs nearly 80 different “means-tested welfare programs” and more than 100 million Americans are already enrolled in at least one of those programs.

Yes, I realize that figure is very hard to believe.  I had a hard time believing it when I first came across it.

And it is even more shocking when you realize that the figure of 100 million Americans does not even include those who only receive Social Security or Medicare.

Today, there are 56.76 million Americans on Social Security.

To support all of those Americans on Social Security, there are only about 94.75 million full-time private sector workers.

So there are just 1.67 full-time private sector workers to support each American that is on Social Security.

Medicare is also growing like crazy.  As I wrote about the other day, the number of Americans on Medicare is expected to grow from 50.7 million in 2012 to 73.2 million in 2025.

How much farther can we push things before the entire system collapses?

In order to support this exploding entitlement system, we need a lot more Americans to be working good paying jobs.

Unfortunately, millions of good paying jobs continue to be shipped overseas and they aren’t coming back.

We are even losing good jobs to our own prisoners.  The United States has the largest prison population in the world by far, and the exploitation of that low wage labor pool has become a boom industry in America.  Even Microsoft and Boeing are using prison labor now.  Just check out this video.

Read Full Article Here

Obama proposes Social Security cuts

20 December 2012

The cuts in Social Security and other critical social programs proposed Tuesday by the Obama White House as part of negotiations with House Speaker John Boehner over the so-called “fiscal cliff” mark a watershed in US social policy.

Obama has publicly proposed to cut future benefits for Social Security recipients, underlining the bipartisan agreement that the working class and the elderly, not Wall Street or the super-rich, must pay for the crisis of American capitalism.

According to press reports Tuesday, the White House counter-offer to Boehner calls for reducing future cost-of-living increases in Social Security benefits by adopting an inflation index that is deliberately distorted to underestimate the amounts that the elderly will have to pay for the essentials of life. The new inflation index, called a “chained” Consumer Price Index, will cut as much as $225 billion in spending over the next ten years, half of that from Social Security recipients and the rest from the pensions of retired federal workers and other benefit payments.

There are other reactionary features of the White House proposal: limiting the expiration of the Bush-era tax cuts to families with incomes above $400,000 a year, up from the longstanding Obama position of $250,000; allowing the partial payroll tax holiday to expire, effectively imposing a two percent tax on the wages of every American worker; and maintaining the 20 percent rate on dividend income, which goes overwhelmingly to the wealthy, instead of allowing it to rise to 39.6 percent as provided for in current law.

Providing $1.2 trillion in tax increases and $1.2 trillion in spending cuts over ten years, the White House proposal embraces the Republican demand for a dollar-for-dollar equivalence between tax increases and spending cuts. This supposed “balance” does not take into account the $1.2 trillion in spending cuts, to be phased in over the next nine years, that were enacted in the August 2011 budget deal between Obama and the House Republicans.

All told, the White House plan would cut $400 billion from spending on federal health care programs, mainly Medicare, $122 billion from Social Security, and another $400 billion from other domestic spending, as well as saving $290 billion in interest costs.

 

Read Full Article Here

Politics, Legislation and Economy News

Economic News  :  Banking/Financial – Austerity – Government Corruption – Fiscal irresponsibility – Special Interests – Elitist Privilege

The Banker Who’d Cut Social Security and Medicare – and May Become Treasury Secretary

Pollsters keep telling us that the public wants action on jobs, a higher tax rate for millionaires, and protection for Social Security and Medicare. Our best economists keep reminding us that job creation should be government’s top priority.

So why is the Administration talking about replacing Treasury Secretary Geither with a wealthy banker who wants to cut Social Security and Medicare, would lower taxes on his fellow rich people, and is trying to impose European-style job-destroying austerity on this country?

The Balloon

There was some consternation when the Administration floated a trial balloon which was prominently picked up by the Washington Post’s Ezra Klein, whose headline asked “Will Erskine Bowles be our next Treasury Secretary?”

Klein wrote that “as of today, I’m ready to name a frontrunner, at least if Barack Obama is re-elected: Erskine Bowles.” He also notes that Paul Ryan called Bowles “my favorite Democrat.”

It’s true that a Bowles nomination would, as Klein says, “ensure a smooth confirmation.” So would the nomination of Grover Norquist. There are reasonable compromises to be made in the name of governance. And there are those that aren’t.

The Candidate

Paul Ryan’s affection is understandable. And it’s reciprocated. Bowles said of Ryan: “I think he’s smart. I think he’s intellectually curious. I think he is honest, straightforward and sincere.”

Their mutual regard is perhaps reinforced by the fact that Bowles co-authored a “Ryan-lite” personal austerity proposal with conservative Republican Alan Simpson, a former Senator, which would cut Social Security and Medicare benefits while simultaneously lowering tax rates for millionaires, billionaires, and corporations.

Before entering public life Bowles was a banker with Morgan Stanley. He now serves on Morgan Stanley’s board, and has done so through a series of that bank’s legal issues. As Dean Baker notes, Bowles was also on the General Motors Board “from June of 2005 until it went into bankruptcy in the spring of 2009,” and “joined the board of Morgan Stanley, the Wall Street investment bank, near the peak of the housing bubble in December of 2005.”

Bowles is also on the Board of Facebook, whose IPO has been the subject of controversy and scandal. (Baker offers a fun, interactive graph of the economic performance of the companies on whose boards Bowles has served. It isn’t pretty.)

The Pitchman

Bill Clinton, among others, has delivered one sales pitch after another for the Simpson/Bowles plan. He put one in his speech to the Democratic National Convention. I wonder if attendees understood what he was selling, or whether Democratic leaders noted that some of Clinton’s best-received lines were these:

Now, I think this plan is way better than Governor Romney’s plan. First, the Romney plan failed the first test of fiscal responsibility. The numbers just don’t add up. (Laughter, applause.)

The Simpson/Bowles numbers don’t add up, either — partly because they offer various options and exchange them at will, and partly because they set target goals but never explain how they plan to achieve them. Clinton:

I mean, consider this. What would you do if you had this problem? Somebody says, oh, we’ve got a big debt problem. We’ve got to reduce the debt. So what’s the first thing you say we’re going to do? Well, to reduce the debt, we’re going to have another $5 trillion in tax cuts heavily weighted to upper-income people. So we’ll make the debt hole bigger before we start to get out of it.

The baseline Simpson/Bowles proposal reduces the tax rate for millionaires and billionaires, which is already at a historical low of 35 percent, to 27 percent. And it cuts the corporate tax rate, too.

Now, when you say, what are you going to do about this $5 trillion you just added on? They say, oh, we’ll make it up by eliminating loopholes in the tax code. So then you ask, well, which loopholes, and how much? You know what they say? See me about that after the election. (Laughter.)

“I’m not making it up. That’s their position. See me about that after the election.”

It is funny, until you realize that’s Bowles’ and Simpson’s position too — and that Bowles might be our next Treasury Secretary.

The Plan

The Simpson/Bowles proposal is often marketed — falsely — as the product of their deadlocked and failed Presidential Deficit Commission. It claims to be “centrist” because it offers unspecified tax increases as well as cuts — probably by decimating the middle class by eliminating tax deductions for employer health care, dependent children, and home mortgage interest. It also claims “bipartisanship” because Bowles the banker is also Democratic Party insider.

The “Simpson Bowles” austerity cuts to U.S. government spending closely resemble the cuts that have devastated the economies of Europe and Great Britain. Their plan would also cut Medicare and Social Security benefits — while providing drastically lower tax rates for billionaires and millionaires.

When you look at it carefully, Simpson/Bowles only differs from the radical right-wing Republican budget in a few areas, the most important of which is this: While the Republican plan calls for no tax increases at all, the Simpson/Bowles plan says it would offset its billionaire tax cuts. But since they also lower tax rates for billionaires, millionaires and corporations, they’re left to rely like Romney on unspecified loopholes, or “tax expenditures,” which could eviscerate the tax deductions that help the middle class get health insurance and pay their mortgages.

The Voters

Washington insiders scoff at anybody who dares question the sanctity of the “Simpson Bowles” concept. But once you leave Washington, that includes pretty much everybody. About 96 percent of the country’s voters reject their emphasis on deficits as our top priority, according to recent polling. The same poll showed that 37 percent of those polled considered “the economy and jobs” their top priority. That’s nearly ten times as many people.

That tracks closely with other poll results which showed that seventy percent of Americans were either “very uncomfortable” or “somewhat uncomfortable” with the Simpso/ Bowles plan when it was released.

Meanwhile polls show that Medicare is a key issue in three battleground states, with Paul Ryan’s unpopular plan giving Democrats a decided edge on that issue. The selection of Bowles would damage that advantage if it was announced before the election, and would create a sense of betrayal if announced afterwards.

That particular form of right-wing wealth redistribution is what allows Simpson, Bowles, their funders and supporters to keep bragging that their plan is “brave.” If they were really brave they’d admit that they’re offering a right-wing austerity plan, not a “nonpartisan” solution to a long-term issue that’s receiving attention that should be focused on today’s jobs crisis.

The Job

What does the Treasury Secretary do? She or he is, among other things, the country’s Chief Financial Officer or CFO. (That makes the past performance of Bowles’ companies more than just a game.) The Treasury Department website says that

The Secretary of the Treasury is the principal economic advisor to the President and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the government … (and) is responsible for formulating and recommending domestic and international financial, economic, and tax policy… the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt.

The website adds: “The Chief Financial Officer of the government … serves as Chairman Pro Tempore of the President’s Economic Policy Council, Chairman of the Boards and Managing Trustee of the Social Security and Medicare Trust Funds” — uh-oh! — “and as U.S. Governor of the International Monetary Fund” as well as other multilateral institutions.

The Treasury Secretary also controls the Emergency Economic Stabilization Fund – better known as “TARP.” Should a banker run TARP?

Among its many fines and violations, Morgan Stanley recently signed a Consent Order with the Federal Reserve regarding its “pattern of misconduct and negligence in residential mortgage loan servicing and foreclosure processing.””

If a national tragedy occurs, the Treasury Secretary of the United States is fifth in the line of Presidential succession.

Donald Trump Explains Obama Care – funny but true

Donald Trump

Here’s what Donald Trump had to say about Obama Care.

Let me get this straight . . . …
We’re going to be “gifted” with a health care Plan we are forced to purchase and fined if we don’t,
Which purportedly covers at least ten million more people,
without adding a single new doctor,
but provides for 16,000 new IRS agents,
written by a committee whose chairman says he doesn’t understand it,
passed by a Congress that didn’t read it but exempted themselves from it,
and signed by a President who smokes,
with funding administered by a treasury chief who didn’t pay his taxes,
for which we’ll be taxed for four years before any benefits take effect,
by a government which has already bankrupted Social Security and Medicare,
all to be overseen by a surgeon general who is obese,
and financed by a country that’s broke!!!!!
What the hell could possibly go wrong?