IOUs For Grandpa

Early in Ronald Regan’s Presidency he addressed the American people, saying; “I can think of no more important domestic problem requiring resolution than restoring the integrity of Social Security”. He earned the trust of the American people, and enjoyed unanimous support for his 1983 Social Security reform package. The comprehensive plan would make SS solvent for the next 75 years by gradually increasing SS tax contributions, and the retirement age. New trust fund surpluses would be used for future financial obligations, created by retiring baby boomers. Americans trusted their President, and today continue to honor their part of the deal, generating 12.4 cents for every gross dollar earned up to a maximum of $97,500, and waiting an additional 10 months for full retirement.

Billions of excess dollars flowed into the trust fund, however, like most political fixes, this fix had a built in gotcha. The gotcha mandates exchanging excess trust fund dollars for IOUs, resulting in contributions being spent for something other than intended, a direct contradiction, blatantly violating the trust American’s put in President Regan. The IOU for dollar swap effectively turns paid contributions into future obligations against workers and their families. These instruments of financial pain now total over 2 trillion dollars, and are increasing at the rate of $200 plus billion annually. Recently President Bush said; “There is no Social Security trust fund, just IOUs that I saw first hand, that future generations will pay”. He should know, as this President and his administration have spent more trust fund excess cash than all previous administrations combined. Our “trust dollars” helped to fund huge tax breaks for the richest 1%, and help fund an ill-advised incursion into a foreign country, to name a couple.
Not to be outdone, the “I’m entitled”, selfish seniors clamor for more, more Medicare, more senior discounts, and bigger COLAs. Our trust has been violated, and must have consequences. Replacing Grandpa’s check with an IOU seems to be an appropriate consequence, since history suggests he approves of this procedure. So Grandpa, have a ball - don’t worry - be happy – and there’s plenty more IOUs were that one came from.

It Is Finished

In 1994 the moral majority voted to accept the Republican’s promises embedded within the Contract with America. Republicans promised to restore accountability to congress, then gave us Tom Delay. They promised to end the cycle of scandal and disgrace, then gave us Jack Abranoff, and Tom Foley. They said, “we’ll make all of you proud of the way free people govern themselves”, then gave us President Bush, who governs by overriding congressional legislation with unconstitutional signing statements. They promised to restore fiscal responsibility, then gave us trade deficits, budget deficits, and Social Security trust fund IOUs now totaling more than $2 trillion. They promised to take back our streets, and now have a plan to give our streets to 12 million illegals. They promised to restore personal responsibility, then said, “don’t blame us, it was bad intelligence”. They promised to reinforce the family, then broke down a Florida family’s door, while they were making decisions on very private matters. They promised to restore the American dream, now millions of Americans are living a nightmare, 3 jobs, $3 gas, and 3 weeks to eviction. They said, we’ll restore senior citizen fairness, then created a Medicare doughnut hole. They said, we’ll restore national security, then gave us Iraq, Dick, Donald, Condi, and Halliburton. They promised wage enhancement legislation, then raised their own wages by $35,000, the Presidents by $200,000, and left the poorest of us, that is minimum wage earners dangling in the wind. They promised to pass legal reform legislation, then emboldened K-street by making it a haven for lobbyists and their financial terrorists tactics. They promised to promote citizen legislature, then put big Government in our schools, our homes, our e-mails, and our bank accounts. They said, Governments too big, too intrusive, and too easy with the public's money, now Governments bigger, more intrusive, and Rodney Dangerfield got more respect than the public’s money gets.
They engineered and built one hell of a “flip-floppin” swift boat, validated by Jerry Farwell and his ilk breaking a vintage bottle of “family values” over her bow, christening her the good ship Moral Majority and hanging the mission accomplished banner. Fortunately, the 2006 elections grounded this boat and replaced the mission accomplished banner with an “IT IS FINISHED” sign. So Bon Voyage Republicans, you built it, now have fun rowing it.

Mr. President – Put Our Money Back

In June of 1987, at the wall in West Berlin Germany, President Ronald Reagan speaking to the German people, said, “Mr. Gorbachav - Tear down this wall” - A very bold statement that resulted in the Berlin wall coming down. Now it’s time the American people make a similar bold statement, to the new Democratic controlled Congress -“Put our money back”. I, of course refer to the billions of dollars of contributions, made by millions of working Americans, to the Social Security Trust Fund. Every cent of surplus cash generated by Ronald Reagan’s 1983 Social Security tax increase package, meant to help offset the enormous cost of funding retiring baby-boomers is gone, spent. This President gives moral values sound bites, and condemns corporate wrongdoers. The President and the Republican controlled Congress, including Representative Ginny Brown Waite are at the very least, guilty of fiscal mismanagement and outright deception, that makes Enron and WorldCom pale in comparison.
Section 13301 of the Budget Enforcement Act of 1990 explicitly states: Not withstanding any other provision of law, the receipts and disbursements of the Federal Old Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund shall not be counted as new budget authority, outlays, receipts, or deficit or surplus for purpose of (1) the budget of the United States Government submitted by the President, (2) the Congressional Budget, or (3) the Balanced Budget and Emergency Deficit Control Act of 1985.
Through the magic of accounting trickery, George W. Bush, with the help of our congress have transferred more SS trust funds than all previous Presidents combined, now totaling approximately 2 trillion dollars, and increasing at $200 + billion annually. Obligations future generations, our kids and grandkids will be asked to pay again. Are these acts of compassion, I think not – Are these acts of passion - I think so, and that passion is to spend money that for something other than intended. Mr. President, you and our congress can show us your moral values by – PUTTING OUR MONEY BACK -

You can do something for our kids and grandkids by signing a petition at: Citizens Coalition for Social Security Restitution http://www.restoresocialsecurity.org

Soldier - Disregard The Smell

In 1994, Texas Gubernatorial candidate, George W. Bush dressed up in a hunting outfit, borrowed a gun, and staged a quail-hunting event, then proceeded to shoot a protected specie, the Texas killdeer. Realizing the mistake, Bush attempted to stuff the bird in his hunting bag, however a reporter (damn) noticed, and made a scene. Forced to report the incident, Bush was assessed $130 in fines. This past February while quail hunting, Vice President Dick Cheney, shot his friend, Harry Whittington in the face. Rather than report the incident himself, Vice President Cheney chose to let the ranch owner, Katherine Armstrong make the announcement. The Vice President's office didn't even acknowledge the incident until the following day. With the support of fellow Repubs, these 2 hunting gurus have been calling the shots (no pun intended) since 9/11. They've sent our young soldiers marching off to Afghanistan and Iraq, to hunt down the terrorist. Now they're on the hunt in Baghdad, marching up and down insurgent invested streets, traveling up and down IED laden roads, and breaking down neighborhood doors, not knowing who or what lies in wait. They have no way of knowing whether Mohamed is a terrorist, a freedom fighter, or just downtown grocery shopping. Or is the car coming down the road carrying Junior to school, or is Junior's lunch box his claim ticket for his band of virgins? Yesterday, Bush, Cheney, and Ginny Brown-Waite said, "Soldier you'll be a liberator", now they pass out medals as the liberator morphs into an infidel occupier. God forbid, these brave young men and women react to defend themselves, only to find they've made a mistake. Unlike the hunting gurus, the young soldier can't stuff the dead Iraqi in a bag, or have the ranch owner or the press secretary spin the incident.Fellow Republicans echo Bush and Cheney saying, "12 million Iraqis voted, democracy is about to blossom, and the smell of liberty fills the air". The Soldiers and their families are beginning to say, yes there is a smell in the air, and it smells a lot like hell on earth. But the "stay the course" hunter who stuffed the bird, the "I didn't mean to" hunter who shot his buddy, the fox "fair & balanced" spinner of facts, and the "I have a medal for you" gang, are once again talking to our troops, saying."Soldier disregard the smell, Just stay the course".; It's time we sent someone to Washington who can smell it for what it is, and then tell it like it is..and that someone must be our next President.

Trust Fund WMDs

Recently, my first Social Security check arrived. The County Schoolteacher, the 2 Wal Mart associates, the 2 McDonald hamburger flippers, and the local plumber, are now obligated to fund my SS check until the day I die. Somehow I felt guilty, helpless, and almost un-American for doing nothing to offer resistance to the ongoing looting of excess cash from the SS trust fund, intended to fund my retirement checks. I can still see Ronald Regan when he said, “I can think of no more important domestic problem requiring resolution than restoring the integrity of Social Security”. Like millions of Americans I believed my President, and gave him my trust, which led to the 1983 Social Security reform legislation significantly increasing SS taxes. I believed paying additional taxes to build Social Security trust fund surpluses, was a reasonable approach to offsetting future financial obligations created by retiring baby boomers. I remember, looking up the definition of trust fund, and finding money, securities, property, etc., held in a trust, and it gave me even more comfort that my trust was well placed. One most memorable quote I remember, Thomas Jeffersons, "I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them" - It made me wonder, but my Government wouldn't do this would they?

Twenty plus years later hard working Americans are now generating 12.4 cents for every gross dollar earned up to a maximum of $97,500, and waiting an additional 10 months before qualifying for full retirement. By all measurements, Americans have, and are living up to their end of the bargain, and just like President Regan said, there are annual trust fund excesses. Sad to say, the 1983 reform legislation, billed to be a 75 year fix, has got us in a fix in 25 years later. Like most political fixes, the 1983 fix had a built in gotcha, and all parties to President Regan’s fix then, and now are very aware of the consequences as a result of the gotcha. The gotcha mandates transferring trust funds to general revenue funds by exchanging IOUs for excess trust fund dollars. This gotcha has allowed the Government to spend every cent of the Social Security Trust Fund surpluses specifically earmarked for the retirement of baby boomers. This well planned plundering of resources began on day one, and continues unabated today. It represents a direct contradiction of stated intent, and blatantly violates my trust, and the trust every American put in President Regan, future Presidents, and Congresses, including the 110th. The IOU for dollar swap effectively turns paid contributions into future obligations that will be paid by future workers and their families. IOU obligations now total over 2 trillion dollars, and are increasing at the rate of $200 plus billion annually. Sad to say, the 1983 reform legislation, billed as a 75 year fix, has us in a fix in 25 years later.

Continued collection of Social Security trust fund excess that literally creates “weapons of monetary destruction” (WMD) on hard working Americans must cease immediately. Hard working, play by the rules American families deserve something better than a drawer full IOUs for their financial sacrifices. Barbara and I are Grandparents 14 times over. We deeply care about their future, and respect them more than to let this game go on for another minute - TIME OUT –

Drawing upon all my entrepreneurial experience, including helping form the American Association of Baby Boomers (AAB) in the 90s, I have completed the framework for a comprehensive SS package, that begins by immediately putting more $$ in American’s paychecks. It is called the Generational Initiative Bill (GI Bill). The GI Bill uses the Social Security lemon and turns it into lemonade. Among other things, it creates community investment/retirement pods, provides a venue for young creative minds to put forth, and funds their new ideas, creates good paying American jobs, bridges the generational gap, and inspires a buy American mind set. I would like to share, and discuss the GI Bill with you.

We realize this is a tough challenge for any politician in today’s world, but putting working Americans ahead of political considerations should be a no-brainer. To close, if like Barbara nad me, leaving a better tomorrow for Grandkids is your top priority, then let's start by demanding lock box legislation, and begin restoring the American people's trust by making the trust fund whole.