Archive for February 9, 2010

Little Old Lady

Posted in Cool Beans, My E-mail on February 9, 2010 by spikestl

Defense Attorney:
Will you please state your age?

Little Old Lady:
I am 94 years old.

Defense Attorney:
Will you tell us, in your own words, what happened the night of April 1st?

Little Old Lady:
There I was, sitting there in my swing on my front porch on a warm spring evening,   when a young man comes creeping up on the porch and sat down beside me.

Defense Attorney:
Did you know him?

Little Old Lady:
No, but he sure was friendly.

Defense Attorney:
What happened after he sat down?

Little Old Lady:
He started to rub my thigh.

Defense Attorney:
Did you stop him?

Little Old Lady:
No, I didn’t stop him.

Defense Attorney:
Why not?

Little Old Lady:
It felt good. Nobody had done that since my Albert died some 30 years ago.

Defense Attorney:
What happened next?

Little Old Lady:
He began to rub my breasts.

Defense Attorney:
Did you stop him then?

Little Old Lady:
No, I did not stop him.

Defense Attorney:
Why not?

Little Old Lady:
His rubbing made me feel all alive and excited. I haven’t felt that good in years! 

Defense Attorney:
What happened next?

Little Old Lady:
Well, by then, I was feeling so ‘spicy’ that I just laid down and told him
‘Take me, young man. Take me now!’

Defense Attorney:
Did he take you?

Little Old Lady:
Hell, no! He just yelled, ‘ April Fool!’ And that’s when I shot him, the little bastard

Rash of retirements pushes Social Security to brink

Posted in FAIL, politics with tags , , on February 9, 2010 by spikestl
By Richard Wolf, USA TODAY

WASHINGTON — Social Security’s annual surplus nearly evaporated in 2009 for the first time in 25 years as the recession led hundreds of thousands of workers to retire or claim disability.The impact of the recession is likely to hit the giant retirement system even harder this year and next. The Congressional Budget Office had projected it would operate in the red in 2010 and 2011, but a deeper economic slump could make those losses larger than anticipated.

“Things are a little bit worse than had been expected,” says Stephen Goss, chief actuary for the Social Security Administration. “Clearly, we’re going to be negative for a year or two.”

Since 1984, Social Security has raked in more in payroll taxes than it has paid in benefits, accumulating a $2.5 trillion trust fund. But because the government uses the trust fund to pay for other programs, tax increases, spending cuts or new borrowing will be required to make up the difference between taxes collected and benefits owed.

Experts say the trend points to a more basic problem for Social Security: looming retirements by Baby Boomers will create annual losses beginning in 2016 or 2017.

“The moment of truth has arrived,” says Rep. Paul Ryan, R-Wis., top Republican on the House Budget Committee. “This is a wake-up call.”

JOBS AND THE ECONOMY: Rebound in 2010?

Social Security took in only $3 billion more in taxes last year than it paid out in benefits — a $60 billion decline from 2008, according to federal data. The slide in revenue occurred sooner than Social Security actuaries had expected, for three reasons:

• Payroll tax revenue that was growing at a 4.5% average annual clip along with wages flattened out in 2009 because of rising unemployment and pay raises that largely disappeared.

• The number of retired workers who began taking benefits increased by 20%; those taking disability jumped by 10%.

• Monthly benefits were raised 5.8% because of a spike in energy prices the year before.

Social Security was saved from bankruptcy in 1983 by a bipartisan deal that increased payroll taxes, taxed some benefits and gradually raised the retirement age to 67. That was supposed to keep the system solvent at least until 2058, but the projection has slipped to 2037.

The impact of the recession shows that “for all these projections, unexpected things happen,” says Maya MacGuineas of the Committee for a Responsible Federal Budget.. “Money has to be found to repay those trust funds.”

President George W. Bush proposed voluntary private retirement accounts in 2005, but the effort stalled in Congress. President Obama has proposed giving Social Security and other thorny fiscal issues to a bipartisan commission.

From the Desk of Congressman Todd Akin

Posted in My E-mail with tags , on February 9, 2010 by spikestl

Congresssman Akin speaking at a podium.

Dear Missouri Friend:

What is your share of the national debt? Would you believe that Congress just raised it’s own credit limit again – and your share of the bill will be $46,319 by the time they are done spending?

On Thursday, I voted against increasing Congress’s debt limit (the amount that Congress can spend our country into debt) and I introduced legislation to make it more difficult for Congress to keep raising its debt limit. I blogged about how it is necessary to force Congress to take responsibility for out-of-control spending: “Congress needs every possible incentive to get its fiscal house in order. My resolution requires that a debt limit increase be voted on separately – not hidden in another bill. And, with a super-majority requirement, raising the debt will not be quite so simple.”

On Wednesday, I went down to the House floor to discuss the President’s new budget. In case you missed it, my staff has put together parts of that discussion on YouTube for you to watch. While we are still not finished reviewing the new budget, the big picture is clear. This budget will raise the deficit to a record level: $1.6 trillion and 10.6% of our nation’s gross domestic product. It will double the national debt in five years. By 2020, the interest on our debt will reach $840 billion. In addition, this budget raises taxes by $2 trillion. Even as our current entitlement spending is ballooning out of control, the White House has added brand new entitlements to this budget, including $1 trillion for government run healthcare.

As always, I’d love to hear your thoughts on the President’s budget, the debt limit increase or any other subject.

Sincerely,

W. Todd Akin

P.S. The 2010 Congressional Art Competition for high schoolers is coming up soon. If you know a talented student who lives in the 2nd District, invite them to complete a student entry form on my website and submit their work for this exciting event.

Congressman Todd Akin
http://www.house.gov/akin
202-225-2561 – Washington
314-590-0029 – St. Louis
117 Cannon HOB
Washington, DC 20515