Showing posts with label Feds. Show all posts
Showing posts with label Feds. Show all posts

Wednesday, January 26, 2011

"The biggest problem with Social Security"


Yahoo Article Comment By XX:

"The biggest problem with Social Security is that the excess money received in any year over the past 3/4ths of a century has been SPENT ALREADY. If it weren't already spent, there would actually be a trust fund that could pay benefits.

Instead, the government borrows that money and spends it right away in the same year. This is something Republicans and Democrats are now facing: now that the money is spent, they have to borrow more money to pay Social Security back."

Saturday, January 15, 2011

Woodrow Wilson Re Signing Federal Reserve Act


"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men." -- Woodrow Wilson 1919, commenting on his signing of the Federal Reserve Act

"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the Eternal God, I will rout you out." -- Andrew Jackson, as he prepared to shut down the Second Bank of the United States.