Will media treat lies from Club for Growth as worthy of "he said/she said"

[papau]

treatment?

We have a new blog from the Club for Growth

http://www.socialsecuritychoice.org/

I comment below on only a few of the postiings that our rich friends have had posted there.

1. A dump on a GOP Congressman

"Congressman Sherry Boehlert, one of the House’s leading RINOs, had this to say about Social Security in a recent radio interview:

“OMB, CBO, and all these alphabet agencies in Washington that monitor these things tell us the Trust fund has sufficient resources in it to pay benefits well into ah, ah, three decades now.”

Ummm, that’s not true. As any congressman should know, the Trust Fund has ZERO cash in it. Instead, the Trust Fund has paper IOUs that represent the Trust Fund’s obligations, not assets. But heck, since Boehlert referenced a government agency, let’s get a quote from one of them. Here’s what the CBO has to say about it:

However, trust fund holdings, which are invested in Treasury bonds, are liabilities to the rest of the government (which will need to pay for the bonds when they are redeemed). Thus, such holdings are not assets of the government as a whole. (emphasis added)"

SEEMS THE IDEA THAT A BOND FINACING BUSHES DEFICITS IS A LIABILITY IS NEW TO THE GOP. LIKE SOC SEC, JAPAN CALLS IT AN ASSET WHEN THEY BUY THOSE BONDS - SHALL WE TELL JAPAN THAT IN TERMS OF THE COMBINED GOV OF JAPAN AND THE GOV OF THE US, THE ASSET DOES NOT EXIST AS IT OFFSETS A LIABILITY?


2. transitions costs do not realy exist
AND YOU HAVE TO LOVE THE GROVER NORQUIST ANSWERS TO "How will the transition costs be paid for? - "THE RICH WILL PAY FOR THEM" - BUT WITHOUT A TAX HIKE ON THE RICH THE REAL RESULT IS A CUT IN FEDERAL GOV HELP TO THE STATES IN SOCIAL AREAS. PLUS THEY DARE TO IGNORE THE EFFECT ON THE CAPITAL MARKETS OF ALL THE BORROWING BY SAYING THEY'RE NO TRANSTION COSTS - JUST EARLY "recognition of obligations that the system has undertaken anyway."

3. If you borrow your other liabilities become funded, so you are better off ?????? THE "misconception" THAT WHILE "personal accounts don't in and of themselves have much effect on the system's actuarial solvency" - THEY "IMPROVE FISCAL STABILITY BECAUSE PRE-FUNDED PLANS ARE MORE STABLE" - A TRUTH - BUT HE IGNORES THE FACT THE PRE-FUNDING IS OBTAINED BY BORROWING - NOT PUTTING AWAY FOR THE FUTURE THE REVENUES FROM A TAX HIKE ON THE RICH.


4. A claim that there are 2 flaws to addon accounts - a hard to understand claim - but for the record "BECAUSE THEY ALLOW PRIVATE ACCOUNTS THIS IS A "political" FATAL FLAW

AND BECAUSE LOW PAID FOLKS WILL NOT VOLUNTEER AN EXTRA DEDUCTION THIS IS A FATAL FLAW - AS IN 401k and IRA AND ALL THE OTHER NON-TAX SAVINGS.

5. And trust us we are trying to help the low paid!
AS IF AT THE END OF THE DAY THE CURRENT SS BENEFIT THE LOW PAID GET WILL SOMEHOW BE SMALL COMPARED TO THE COMBINED 50% OF THAT BENEFIT AFTER CPI REPLACES WAGE INDEXING PLUS THE BENEFIT PURCHASED WITH THE VALUE OF THE ACCOUNT - YET THEY HAVE THE SAME NUMBERS THAT I HAVE SEEN THAT SHOW THE CUTS HURT THE LOW WAGE FOLKS MORE THAN OTHERS - AND THE LOW WAGE FOLKS UNDER BUSH DO NOT GET EVEN CLOSE TO THE CURRENT BENEFIT.

6. And even if we all agree there is no crisis, "early reform is less painful and more effective" - IGNORING THE FACT THERE IS NO NEED FOR EARLY REFORM IN A SYSTEM WHERE THE WORKER IS NOW OVERPAYING TO THE TUNE OF $6 TRILLION DOLLARS BY 2018.

7. Of course redefining Soc Sec insurance as a longevity insurance - "insurance for living past life expectancy" RATHER THAN INSURANCE AGAINST BEIING POOR IN RETIREMENT - helps with the lying.

8. And while the GOP are not about protection of the rich - GOD FORBID RAISING OR ELIMINATING THE WAGE CAP ON THE PAYROLL TAXES BECAUSE "extremely damaging to the economy and stock market, and would undermine reform completely" BECAUSE THE MARGINAL TAX RATE FOR THE RICH WOULD INCREASE!

9. Ending in trust me -ALL THAT SAY BUSH AND THE GOP ARE LIARS HAVE "LOST THEIR WAY" -

I WONDER IF THE MEDIA WILL TREAT THIS AS A HE SAID/SHE SAID, KNOWING THAT ONE SIDE IS LYING?