Bobby

Deadhead. Goose. IT guy. Family man. Boxing and football fan. #GoBlue

[Jared Ryan Sears @JaredRyanSears]

Social Security does not add to the national debt. It is even prohibited by law from borrowing money.

Politicians who talk about cutting or changing Social Security to address the debt are lying to you.

Here is how Social Security funding works:

Social Security is funded by payroll taxes. When more money comes in from payroll taxes than benefits that need to be paid out, Social Security is obligated to invest the surplus in Treasuries.

Treasuries are bonds. Governments and corporations issue bonds to generate money. A bond is a loan from the purchaser to the issuer.

A bond has a principal, a maturity date, and an interest rate. The principal is the value of the bond. When you buy a bond, you pay the principal. When the bond reaches its maturity date, the issuer is required to pay the principal back to the holder. The interest rate is the amount the issuer pays to the bondholder.

It is similar to how, when you take out a 30-year mortgage, you agree to a repayment schedule and to pay interest until the loan is repaid.

As Treasuries mature, if Social Security doesn't need that extra money, it rolls them over by buying new Treasuries.
When Social Security needs more money to cover benefits, it cashes out Treasuries.

The federal government has had a deficit for the past 25 years. This means that when it has to meet its obligations, it needs to borrow money.

This is how people claim that Social Security adds to the debt. That is ridiculous.

Companies and countries buy US Treasuries. You and I can buy them. Anyone holding a Treasury when it matures isn't increasing the debt. The government’s unbalanced budget is causing the debt.

Cutting Social Security will do nothing to get the US out of debt, but it would create hardship for millions of Americans.

Social Security currently has a shortfall, primarily because people are living longer and the large Boomer generation is retiring. In 1960, there were 5.1 people paying into Social Security. Today, there are only 2.7. The trust fund from past surpluses is keeping it afloat, but it is running out.

The easiest way to address the shortfall is to remove the tax cap on Social Security. Benefits do not have to be increased to do this. This is exactly what was done for Medicare in 1993. The tax cap was removed, and benefits weren't increased to better fund the program.

[Todd Spence @Todd_Spence]

George Carlin's standup over footage of Splinter from the live Ninja Turtles show from the '90s 🤣 so good

[O’Shea Jackson Jr @OsheaJacksonJr]

I saw it. Now you have to see it. His name is Samuel. And he…is a king.

[Bobby @bmodest]

@ThePropAnt ⚾️

[Covie @covie_93]

A Democrat running for office must provide detailed plans on how to fix every issue while a Republican running for office just need to come up with a nickname for their opponent.

[National Homelessness Law Center @homeless_law]

BREAKING: The Louisiana Senate passed a disturbing anti-homeless bill that pushes homeless people into jails, forced treatment, and unpaid labor. Hours earlier, the same lawmakers voted to give themselves $1,000 to cover housing expenses, recognizing housing is too expensive.

[God @TheTweetOfGod]

Fuck you an infinite number of times.

[Epic Maps 🗺️ @theepicmap]

US Senate Vote on passing Voting Rights Act of 1965

[Bobby @bmodest]

@propsmadness @PipsNBA Paolo Banchero

[Jumbo Elliott @JumboElliott76]

Dummy doesn't realize small businesses employ almost half private sector American jobs.

[Tom Morello @tmorello]

Today’s the 30th anniversary of RATM’S um, ‘memorable’ performance on SNL. There was a fight onstage between our crew and SNL stage hands moments before our performance, wrestling over some upside down American flags which adorned our amps. Timmy C then attacked host/billionarie/presidential candidate Steve Forbes’ family in the dressing room with a wadded up flag. Secret Service flooded the hallways. SNL cut (censored?) our second song and kicked us out onto the sidewalk.
Evil Empire entered the Billboard Album Chart at #1.

[Wolverine land @Breaking57]

MICHIGAN VS OSU. THE GAME 2022

[Bobby @bmodest]

@NRFIAnalytics Yes

[Michigan Men's Basketball @umichbball]

One more.

[Alex Cole @acnewsitics]

If a convicted felon like Donald Trump can vote by mail without showing ID, so can everyone else.

[Kyle Clark @KyleClark]

NEW: President Trump makes four false claims in a 43-word post about Tina Peters.

Peters is 70 (not 73), does not have cancer, was sentenced by a judge in Mesa County (not the Governor), and did not expose fraud in the 2020 presidential election.

[Scott Van Pelt @notthefakeSVP]

Been at ESPN a long time - this one was an all timer. Before social media, it was as viral as a story can be. I watched it on a tape in the news room. I couldn’t stop watching his teammates.

[Doug Stanhope @DougStanhope]

#classicbitoftheweek