John Boehner's tax bill suffers a major setback.

[creaker]

That is the problems. The government both Democrats and Republicans have issued worthless IOUs to the trust fund.

I wonder if that's the real reason it comes up for discussion during cuts - they cut SS enough and they won't have to come up with as much money to redeem those IOU's when the time comes if at all.

[Gregg]

Naw...those IOU's are nothing more than mud that gets scraped off their shoes when they parachute out of Congress. I'll wager there isn't a single member that voted to let them pile up who plans to be around when they come due.

[ApatheticNoMore]

I think the issue is whether or not we have the political will to do what's necessary to keep them available for our younger citizens. At the moment, it doesn't appear so.

I'm under 40, got a good 30 years before I could collect at full retirement age, I know just exactly what is being done, and it's not to help younger citizens, because MORE is being cut from their SS benefits than those who are older. Because that's just the math, if you undercount inflation year after year, the more years that go on, the less the payouts, and younger people have many more years to wait before older people (not that it won't impact older people as well, I think this is scheduled to start now, so yea it will start to impact people that are already collecting as well, but it's still cutting much more more from younger people than them).

[ApatheticNoMore]

Naw...those IOU's are nothing more than mud that gets scraped off their shoes when they parachute out of Congress.

Are we at least chaining their pensions to the chained CPI? Not that it matters, since they get most of their money from bribery of course, but at least the symbolism is good.

[creaker]

Are we at least chaining their pensions to the chained CPI? Not that it matters, since they get most of their money from bribery of course, but at least the symbolism is good.

I still can't believe they still get pensions - they so do need to walk the talk. If they got a 401k with no match they'd still be doing better than most workers.

[ApatheticNoMore]

I wonder if that's the real reason it comes up for discussion during cuts - they cut SS enough and they won't have to come up with as much money to redeem those IOU's when the time comes if at all.

then their solution to the national debt is selective DEFAULT on part of the debt, and if that's what they plan it should be said at such, they plan to default on the national debt - the part owed to SS. Selective of course, no bond holder will be harmed, what do you think this is Iceland or something.