Seniors should also realize at this point that the growth of government has bankrupted them. The money they gave the government over the course of their lives to be put in some mythical lockbox somewhere, some misnamed "trust fund," is gone. That magical "trust fund" is nothing of the kind -- it is a financial structure full of IOUs. The cash was raided long ago, distributed to other seniors, other unemployed people, other government dependants. America's benefits system is no longer self-funded. It is China-funded.
President Obama has now embraced a binary choice: either he can screw current taxpayers or he can screw past taxpayers. Those who depend on their Social Security check to pay the rent are now being asked to suffer a double burden: The burden of paying their original Social Security tax as well as the burden of forgoing their expected return. The alternative is asking those who currently pay taxes to suffer a double burden: paying a higher tax rate and then forgoing their check somewhere down the road. Or, of course, President Obama can elide the choice altogether by placing the burden on future generations.
He'd like to choose the third option. But dastardly Republicans are stopping him from dumping fiscal insolvency on our children and grandchildren. Unwilling to fundamentally rethink his governmental approach, Obama has now been forced into this game of chicken. And he has made his choice: seniors, who are more conservative than younger voters and who donate less money to political campaigns, will pay the price.
There's only one problem for President Obama: Those seniors have children and grandchildren. And we don't like to see our grandparents paying the price for President Obama's fiscal irresponsibility. The answer here is simple: cut government and pay what is owed, both to our foreign creditors and to those citizens who paid into the system -- and free Americans to pursue their own business in the process.
Unfortunately for Buzz, his jacket ends up looped around the car door handle. Then he ends up plummeting over the cliff. Boom. President Obama's current position, in which he has handcuffed himself to his high-spending agenda, means that he will meet Buzz's fate politically.
Clinton Foundation: Oh, We Made Additional $12-26 Million From Speeches Given By the Former First Family | Matt Vespa