Memo to Hannity: Spencer Bachus is not Max Baucus; Social Security will not "default" in two years
On his Fox News show, Sean Hannity falsely claimed that Senate Finance Committee chairman Sen. Max Baucus (D-MT) said Social Security "could face default" and "could be insolvent" within two years. In fact, it was Rep. Spencer Bachus (R-AL) who made the comments about Social Security in an interview with the Tuscaloosa News, and his staff later clarified that he meant to say Social Security could face a "deficit," not "default."
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From the August 19 edition of Fox News' Hannity:
HANNITY: How does this impact? Two bits of news came out today that really scared me on top of all the bad economic news that we got last week that I'll ask you about in a second.
Max Baucus says Social Security could face default within two years. He said that yesterday. And we have hundreds of dealers have dumped the Cash for Clunkers program. They're not getting paid.
STUART VARNEY (Fox Business Network host): Right.
HANNITY: How does it impact it?
VARNEY: Well, I don't know how it directly impacts Social Security or the Cash for Clunkers deal. But this is a clear-cut call to start retreating from all of the spending.
[...]
HANNITY: Let me add one other point. Hang on. Let me advance this a little bit.
FORMER SEN. GEORGE ALLEN (R-VA): These are important fundamental differences.
HANNITY: Dealers have abandoned Cash for Clunkers, 'cause it's not working. Max Baucus said that Social Security could be insolvent in two years. Medicare's broke. Medicaid's broke.
I have a Stanford study with the Hoover Institute that says 70 percent of countries that have socialized medicine don't like it. It's bankrupt. It needs a complete rebuilding. Why, if America can't run the current programs they have, do so many people have faith that they can take over 20 percent of the economy?
Rep. Bachus (R), not Sen. Baucus (D), said Social Security could face a "deficit"
Tuscaloosa News: "Social Security could face a deficit within two years, according to U.S. Rep. Spencer Bachus." In an August 18 article, the Tuscaloosa News reported that "Social Security could face a deficit within two years, according to U.S. Rep. Spencer Bachus who met with The Tuscaloosa News editorial board Tuesday." The article also stated that while Bachus originally said Social Security could face a "default" in two years, his staff clarified to the editorial board that he meant to say "deficit." From the article:
TUSCALOOSA | Social Security could face a deficit within two years, according to U.S. Rep. Spencer Bachus who met with The Tuscaloosa News editorial board Tuesday.
"The situation is much worse than people realize, especially because of the problems brought on by the recession, near depression," said Bachus, R-Vestavia Hills, in an interview with the Tuscaloosa News editorial board.
Bachus, the ranking member of the House Committee on Financial Services, said most people seem unaware of the impending crisis. He initially said Social Security could face "default" within two years, but his staff responded later saying the Congresssman [sic] intended to say "deficit."
"What this recession has done to Social Security is pretty alarming," he said. "We've known for 15 years that we were going to have to make adjustments to Social Security, but we still thought that was seven or eight years down the road. But if things don't improve very quickly, we're going to be dealing with that problem before we know it."
The solvency of Social Security, which provides pensions for people older than 65, has not played a major role in the current debate about health care in Congress. Bachus said it will not likely be addressed in any health-care bill the House eventually passes, although if a Social Security bailout is needed, it will invariably have an impact on government health-care programs.
Social Security will pay full benefits through 2037
Social Security trustees: Full benefits available through 2037. The 2009 Social Security and Medicare Boards of Trustees report projected that in its current state, Social Security funds will be "exhausted in 2037, at which point tax income would be sufficient to pay about three fourths of scheduled benefits through 2083." From the report:
Social Security's annual surpluses of tax income over expenditures are expected to fall sharply this year and to stay about constant in 2010 because of the economic recession, and to rise only briefly before declining and turning to cash flow deficits beginning in 2016 that grow as the baby-boom generation retires. The deficits will be made up by redeeming trust fund assets until reserves are exhausted in 2037, at which point tax income would be sufficient to pay about three fourths of scheduled benefits through 2083.
The folks I know personally (who think he walks on water) will simply say "Hannity misspoke.... but he is right most of the time."
"It's just a joke, lighten up!" , (about some fundamental right wing position)
"Oh, Snopes( NY Times, BBC) is real unbiased!" (as opposed to an anonymous email).
" Well, it could be true, if the liberals get their way!".
One of the funniest things I heard, after debunking scores of these things, I asked my co-worker why he continued to believe things from the same sources. He had been shown many times that they lied, and was never able to counter with anything.
He turned to another conservative co-worker, and said about me;
"He gets really upset about these things. He only likes to hear the Democrat side of anything."
But we keep trying and eventually, the light will seep in.....
But over eons of time, slower than slow, like a slug crawling out of the primordial ooze....I'm optimistic than they can change.....if they have to....they guess.
Meanwhile I must go converse with my dining room table, instead of the Nazi sign woman. (And anyone who would defend her is a moron)
I signed on two petitions this morning. Two more drops in the ocean. Got an email from Catholic's United today. They're backing healthcare reform. Good, More religeous groups should be in on this.
Well, investing is easier said than done. I have never made enough to invest and have had some health issues (breast Cancer, and Chronic Fatigue Syndrome after the surgery). Now, I am 40 do not own a home, have no savings and am living paycheck to paycheck and I am being told that by the time I am ready to retire, all of the money the government has TAKEN from my paycheck since I first started working in high school will be gone and I will get NONE of it!
That said, I truly believe that BEFORE OUR GOVERNMENT ISSUES ONE PENNY IN SOCIAL SECURITY MONEY TO ILLEGAL ALIENS, THOSE WHO HAVE CONTRIBUTED SHOULD FILE PETITIONS TO GET BACK WHAT THEY HAVE CONTRIBUTED OVER THE COURSE OF THEIR LIVES IN ORDER TO SAVE OR INVEST IT HOWEVER THE INDIVIDUAL SEES FIT!
Given that:
This country is TRILLIONS of dollars in DEBT,
Medicare is ALREADY BROKE as is Medicaid
The influx of illegal aliens tapping into a system they have NEVER PAID INTO is simply overwhelming and has nowhere to go but to COMPLETELY BANKRUPT AMERICA,
IT IS TIME THE TAXPAYERS STAND UP AND DEMAND OUR MONEY BE GIVEN BACK TO US! Our government is NOT CAPABLE of "investing" it wisely-that is PROVEN FACT! WE MUST FIGHT THEM WITH EVERYTHING WE HAVE OR THEY WILL TAKE WHAT'S LEFT AND FINISH THE LINING OF THEIR POCKETS AND FLEE AMERICA AND LEAVE US TO THE WOLVES!
THAT, MY FRIENDS, IS THE WAY IT IS!
START PETITIONING CONGRESS TO GIVE SOCIAL SECURITY FUNDS BACK TO THOSE WHO HAVE CONTRIBUTED TO IT SO THAT WE MAY INVEST OR SAVE IT FOR OUR OWN FUTURES!
The only thing left for Hannity to do is cut and past enough sound clips to make Obama say "I eat babies."
Is this what we are going to see next on Fox: Some people had to wait a long time at the DMV yesterday, so let's abolish government funded literacy programs!
Why would anyone have any faith in what he says, when he's been clearly exposed for lying like this. This isn't a matter of opinion, or Liberal versus Conservative, but a blatant lie to prop up his agneda of fear mongering to get Americans so afraid they'll act against they're own interests.
Here's the link to the 2nd lie:
http://alphadogreporter.newsvine.com/_news/2009/08/21/3178670-hannity-blows-it-on-false-social-security-claim-not-once-but-twice-even-after-being-called-out-for-it-the-first-time
Gerry Peters