A new report from Social Security has raised its predicted unfunded liabilities over the next 75 years by one trillion dollars.

The day of reckoning looms: A new report from Social Security has raised its predicted unfunded liabilities over the next 75 years by one trillion dollars, for a total of $9.6 trillion.

According to the report, β€œThrough the end of 2087, the combined funds [OASI and DI] have a present-value unfunded obligation of $9.6 trillion.” That is β€œ$1.0 trillion more than the measured level of $8.6 trillion a year ago,” states the report, in reference to the data available for 2011. That $9.6 trillion shortfall equals approximately $83,894 per household based on the Census Bureau’s latest estimate that there are 114,430,000 households in the country.

The report also looks farther into the future and saw the shortfall rise to $23 trillion.

1 comment

“I can say with a very strong sense of certainty that there are people very close to this president that not only knew what the IRS were doing but authorized it.”

“I can say with a very strong sense of certainty that there are people very close to this president that not only knew what the IRS were doing but authorized it.”

Said by an ABC news reporter today.

In related news, it appears that the IRS not only targeted conservative organizations which applied for tax exempt status, the tax agency also targeted the donors to those organizations.

0 comments

Transcript excerpts of House testimony by two IRS employees show that the policy to harass conservatives was ordered by supervisors in Washington.

Transcript excerpts of House testimony by two IRS employees show that the policy to harass conservatives was ordered by supervisors in Washington.

When these employees testify publicly, it will not be pretty for the Obama administration. The next question will of course be: Who were those supervisors, and who gave them their orders?

2 comments

When Lois Lerner worked for the FEC she offered to drop a case against a conservative if he promised never to run for office again.

Working for the Democratic Party: When IRS thug Lois Lerner worked for the FEC she offered to drop a case against a conservative running for the Senate if he promised never to run for office again.

The conservative refused, and the case went to court, where all charges were dismissed. Nonetheless, the conservative subsequently decided that the harassment from the government, which also included a visit from the FBI, was not worth it, and has not run for office since.

In other words, Lerner’s harassment worked, to the benefit of the Democratic Party.

5 comments

The IRS has told a House investigation that almost 90 IRS agents were involved in harassment scandal.

The IRS has told a House investigation that almost 90 IRS agents were involved in harassment scandal.

If I was Obama and had anything at all to do with this policy, I would be very very nervous. With this many IRS agents involved it will be impossible to control this scandal. Someone is going to spill the beans and tell us who established this harassment policy, and it certainly wasn’t some “low level rogue agents”, as Lois Lerner first claimed.

4 comments

The IRS has refused to meet the deadline for answering questions put to it by the Senate Finance Committee concerning its harassment of conservatives.

Above the law: The IRS has refused to meet the deadline for answering questions put to it by the Senate Finance Committee concerning its harassment of conservatives.

The questions were focused on trying to find out exactly who established the IRS’s policy in this scandal. If Obama was as outraged as he claims about this, and had nothing to do with it, he should have been very willing to make the IRS respond to this quickly. That they are instead stonewalling once again tells us that they, and Obama, do not really want the public to know who conceived the harassment policy. I wonder why.

0 comments

“Their collective experiences at a minimum could spread skepticism about the fairness of a powerful agency that should be above reproach and at worst could point to a secret political vendetta within the government against conservatives.”

“Their collective experiences at a minimum could spread skepticism about the fairness of a powerful agency that should be above reproach and at worst could point to a secret political vendetta within the government against conservatives.”

0 comments
1 825 826 827 828 829 988