How to Jack Up the Debt? Rile Seniors Kurt Nimmo Infowars.com October 8, 2013
Government warns SS checks will not be in the mail after October 17 Obama and his bankster handlers will soon enough get back to the game of saddling the American people and their children’s children with debt. This will be accomplished by riling up millions of senior citizens and others dependent on Social Security. On Monday, the Obama administration warned that unless the so-called debt ceiling is jacked up the government will not guarantee that checks will be in the mail. This was echoed by the Social Security Administration after it consulted with the Treasury Department. Those two government agencies were mum on how specifically payment will be curtailed. It is up to the Treasury to decide who gets federal money and who does not come October 17 when the debt limit is reached. Silence is part of the plan to scare seniors into calling their “representatives” and demanding their great grand children be saddled with even more debt so they will not be reduced to eating Friskies for dinner. “Unlike a federal shutdown which has no impact on the payment of Social Security benefits, failure to raise the debt ceiling puts Social Security benefits at risk,” a Social Security spokesman told ABC News. Around 46 million people receive SS payouts and they represent “a large, often vulnerable and particularly politically active slice of the citizenry,” according to Business Insider. It looks like Obama is blowing a lot of smoke, though, and for the political reasons. His administration failed to mention that checks will be sent out to seniors and other SS recipients even if the debt limit is passed on October 17. “Many seniors programs will continue to operate for at least a while,” writes Forbes. “For now, Social Security checks are going out normally and Medicare will continue to reimburse health care providers, such as doctors and hospitals, for their services. This funding is exempt from the government shutdown.” Plus the fact the SS transfer of wealth scheme is “self-funding” and will continue to be so through 2033
unless payroll taxes are cut, which is unlikely. A 2012 Social Security Trustees report states that “self-funding” of the popular Ponzi scheme will continue at 75 percent after 2033. Despite this, the propaganda campaign designed to rile up seniors and others supposedly at risk will force House leader John Boehner to concede in the debt limit battle. Democrats will eventually be triumphant – and before the October 17 deadline. “We have thought for weeks that Obama would play the Social Security trump card if there was no deal on the debt ceiling by mid-October,” writes Potomac Research Group’s Greg Valliere. “This is one of several reasons why we think a default is unlikely, and it’s one of several reasons why Boehner will capitulate; the only questions are when and under what terms. We think he may get a few crumbs, but no major concessions.”
Stocks Sink As D.C. Budget Paralysis Continues AFP Oct. 8, 2013 US stocks, led by the tech-rich Nasdaq, tumbled Tuesday as a Washington budget and debt ceiling impasse dragged on without clear progress. In late-morning trade, the Dow Jones Industrial Average fell 85.55 (0.57 percent) to 14,850.69. The broad-based S&P 500 lost 12.43 (0.74 percent) at 1,663.69, while the Nasdaq Composite Index slumped 47.71 (1.48 percent) to 3,167.98. Republican and Democratic leaders in Washington continued to adopt a tough line Tuesday, as the government began the second week of a partial shutdown and the critical October 17 deadline loomed to raise the debt ceiling. Mace Blicksilver, director of Marblehead Asset Management, said some investors opted to cash out of
major Nasdaq tech stocks that have risen significantly in recent months. "Investors are concerned that if this thing lingers on, you can have a more general sell-off," Blicksilver said. Facebook was down 4.9 percent, LinkedIn retreated 6.3 percent, Netflix dipped 4.3 percent and Yahoo fell 4.0 percent. The losses came as the IMF trimmed its forecast for global economic growth to 2.9 percent year-overyear in 2013 and 3.6 percent in 2014, revising July estimates down by 0.3 and 0.2 percentage points, respectively. The IMF highlighted some slowing emerging economies as responsible for the lowered forecasts, but also warned that a US budget standoff threatens the global economy. A failure to promptly raise the US debt ceiling "could seriously damage the global economy," the IMF said. Department-store chain JC Penney ticked 4.2 percent higher after reporting "solid progress" in its turnaround efforts. September comparable-store sales fell 4.0 percent compared with last year, but the decline was an improvement over the drop in the previous month. Pharmaceutical distributor McKesson advanced 4.0 percent following a Wall Street Journal report that the company is in advanced talks to buy German rival Celesio. Xerox fell 2.5 percent after disclosing that the Securities and Exchange Commission is investigating accounting practices at a subsidiary acquired in 2010. Bond prices rose. The yield on the 10-year US Treasury slipped to 2.62 percent from 2.63 percent late Monday, while the 30-year dipped to 3.69 percent from 3.70 percent. Prices and yields move inversely.
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