Are Republicans Trying to Destroy Social Security?
Posted By: FlyRight, 3/4/2023 4:37:06 AM
Following his State of the Union Address, President Biden has been on the attack over the GOPs’ many proposals to reform Social Security. Before you react to the talking points, you should ask: Is there any validity to Biden’s concerns? To even the casual observer, Biden’s apprehensions concerning the GOP’s Social Security reform proposals appear to ignore one basic fact -- and likely the most important one. There is not a Republican plan or even lone Republican member of Congress pushing reductions to benefits on the scale that Social Security is scheduled to reduce checks going to seniors on its own when the trust fund is exhausted.
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Biden's Banking Busts
9 replies
The failure of three banks in the last two weeks, including Silicon Valley Bank on Friday and Signature Bank on Sunday, is a saga of utter government incompetence. Call these bank collapses Biden's Banking Busts. The Biden administration has been obsessing on woke causes while banks teeter toward insolvency. Three days before Silicon Valley Bank collapsed, Treasury Secretary Janet Yellen cautioned that climate change puts the banking industry at risk. Yellen was in la-la land, speculating that future storms and tornadoes could diminish the value of banks' assets.
Weather is a risk, but she was oblivious to the much more immediate problem facing banks
Senate Majority Leader Chuck Schumer has rid himself of political contributions tied to the failed Silicon Valley Bank, giving the campaign funds to charity, according to multiple reports on Tuesday.
The New York Democrat received the maximum allowable individual contribution of $5,800 from former Silicon Valley Bank CEO Greg Becker in June 2021, and Schumer’s campaign benefitted from a $2,700 contribution from the failed bank’s political action committee in 2015, FEC filings show.
A spokesperson for Schumer informed news outlets on Tuesday that all political donations linked to Silicon Valley Bank have been given to charity.M
Warnings have emerged of a wider banking collapse on the backs of the failure of the Silicon Valley Bank, with a financial expert who predicted the 2008 financial crisis warning that Credit Suisse may be the next to fall after the Swiss bank’s shares fell to an all-time low on Tuesday.
Switzerland’s second-largest bank, Credit Suisse, saw its shares fall by five per cent in early trading on Tuesday to a record low for the company after confirming some $8 billion (£6.6 billion) in losses in 2022 and admitting that there was “material weakness” in its accounting system for financial reports.
McCarthy argued that Biden's $6.9 trillion budget proposal would not succeed in a House vote, saying that not even Democrats would vote for it.
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Biden defends stability of US banking
system after Silicon Valley Bank’s stunning collapse 14 replies
system after Silicon Valley Bank’s stunning collapse 14 replies
President Biden defended the stability of the US banking system on Monday morning after the stunning collapse of Silicon Valley Bank sparked fears of a major economic crisis.
“Thanks to the quick action of my administration over the last few days, Americans can have confidence that the banking system is safe,” Biden said. “Your deposits will be there when you need them.”
Biden’s speech came hours after federal regulators took extraordinary steps to bail out SVB and avert a meltdown in the banking sector.
In a joint statement on Sunday, the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said they were taking action “that fully protects all depositors”
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Last year, the Biden administration caved to public outcry and disbanded its infamous Disinformation Governance Board under its “Disinformation Nanny,” Nina Jankowicz. Yet, as explored in a recent hearing (in which I testified), the Biden administration never told the public about a far larger censorship effort involving an estimated 80 FBI agents secretly targeting citizens and groups for disinformation. Now it appears that the administration also was partially funding an “index” to warn advertisers to avoid what the index deemed to be dangerous disinformation sites. It turns out that all ten of the “riskiest” sites identified by the Global Disinformation Index are popular with conservatives, libertarians and independents.
Beating Democrats on Social Security Reform
13 replies
The thing about Social Security is that from the beginning it was designed to encourage misconceptions. It looks, on casual inspection, like a giant version of a private pension plan. You pay into such a plan during your working years, contributing to a pension fund, and when you retire you receive payments from that fund in proportion to the amount you put in. ...
I'm pretty sure that it was set up to look like an ordinary pension fund because that made it politically easier to sell. But in reality, Social Security has never been run like a private pension plan.
Following his State of the Union Address, President Biden has been on the attack over the GOPs’ many proposals to reform Social Security. Before you react to the talking points, you should ask: Is there any validity to Biden’s concerns?
To even the casual observer, Biden’s apprehensions concerning the GOP’s Social Security reform proposals appear to ignore one basic fact -- and likely the most important one. There is not a Republican plan or even lone Republican member of Congress pushing reductions to benefits on the scale that Social Security is scheduled to reduce checks going to seniors on its own when the trust fund is exhausted.
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After failing to orchestrate a federal takeover of state election administration two years ago, Democrats are back with their newest strategy to seize control of America’s electoral process.
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The White House announced on Monday that it was giving federal agencies 30 days to remove TikTok from all government-issued devices.
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Former President Donald Trump is intensifying his attacks on Florida Gov. Ron DeSantis, calling him disloyal and saying that his political career would have been over had he not endorsed his ultimately successful 2018 campaign.
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From Sporting Events 36 replies
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