Submitted by twig on Thu, 11/22/2012 - 1:07pm
A few days ago, Goldman Sux CEO Lloyd Blankfein was "interviewed" by a CBS tool, giving him an opportunity to explain that entitlements like Social Security, Medicare, and Medicaid are just too expensive to continue. Yes, it's old news, already reported earlier here and here. But what I totally missed is that Blankfein's math is waaaaaay off, creating an opening for some LTEs. Read below the fold...
Submitted by ubetchaiam on Thu, 07/05/2012 - 9:02pm
It appears as though the conspiracy to change/do away with social Security has a friend in Ben Bernanke and the Fed:
Ben Bernanke Is Bankrupting The Social Security Trust Fund
"In June of each year the Social Security Trust Fund (SSTF) reinvests a significant portion of its investment portfolio in newly issued Special Issue Treasury Securities. The interest rates on these bonds is set by a formula that was established in 1960. The formula was designed to insulate the SSTF from transitory changes in interest rates by averaging market based bond yields over a three-year period. Read below the fold...
