Wednesday, July 25, 2012

"Audit The Fed" Bill Passes US House 327-98

The Washington Times has;

And before we even get started, Congratulations and Thanks to Congressman Ron Paul (R-Texas) for his tireless efforts to get this done.

House Passes Ron Paul's Audit The Fed Bill.

"In a move that serves as a capstone to Rep. Ron Paul’s colorful career, the House on Wednesday approved a bill that would let Congress’s chief investigators conduct a full audit of the Federal Reserve’s shrouded decision-making process.
The overwhelming 327-98 vote sends the bill to the Senate where Majority Leader Harry Reid, Nevada Democrat, has previously expressed support for an audit — though it’s unclear he’ll carve out time for the legislation this year."......
"Mr. Frank, though, said giving GAO powers to look at monetary policy is a precursor to Republicans trying to change the Fed’s mission overall to focus solely on monetary policy, not employment."
continue reading Wash Times coverage here.
Mr, Congressman Frank, as usual, is lost in the bushes. One, the Fed is the primary culprit responsible for America's Employment Plummet because if the Fed didn't Exist, Mr Frank and Co. couldn't keep writing all those blank checks.
Auditing the Fed, if the Senate gets on board, is a precursor to Ending it. If America gets a really good look at what the Fed are actually up to, even the most vocal supporters of Mega Government and its  back breaking, confiscatory benevolence will join the chorus calling to end the Fed.
Congress themselves are Constitutionally Required to be in charge of the money, and if they ever become so, they'll find it much more difficult to justify writing all of those checks they've been writing on the backs of future generations.
"Fed Chairman Ben Bernanke doesn’t like the prospect of such a broad audit, calling it a “nightmare scenario” last week and saying it will lead to politicians second-guessing his decisions."
No, Mr Bernanke, the end game is not to second guess your decisions. The end game is to reduce the number and complexity of your decisions for you down to just one more decision from you.

Where will you be employed After we get Rid of you and your decisions by getting Rid of your Federal Reserve System?
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8,753,935: Workers On Disability Set Another Record In July, Exceed Population Of 39 States

CNS news has;

8,753,935: Workers On Disability Set Another Record In July, Exceed Population Of 39 States
By Terence P. Jeffrey


(CNSNews.com) - The number of workers taking federal disability insurance payments hit yet another record in July, increasing to 8,753,935 during the month from the previous record of 8,733,461 set in June, according to newly released data from the Social Security Administration.
The 8,753,935 workers who took federal disability insurance payments in July exceeded the population of 39 of the 50 states. Only 11 states—California, Texas, New York, Florida, Illinois, Pennsylvania, Ohio, Michigan, Georgia, North Carolina and New Jersey—had more people in them than the number of workers on the federal disability insurance rolls in July.
Virginia, the twelfth most-populous state, had 8,096,604 people in 2011, according to the latest Census Bureau estimate. That would make Virginia’s population about 657,331 less than the number of workers who took federal disability insurance payments in July.
Congress enacted legislation in 1956 to add federal disability insurance to the Social Security system. Over the decades, the number of Americans actually working has dramatically declined relative to the number claiming federal disability insurance payments.
By July 1967, there 74,520,000 Americans actually working and 1,145,663 workers taking disability payments. That made a ratio of 65 actual workers for each worker collecting disability. In July 1987, there were 112,634,000 people actually working and 2,759,852 people collecting disability—a ratio of about 41 actual workers to each worker collecting disability.
When President Barack Obama took office in January 2009, there were 142,187,000 people actually working  and 7,442,377 workers collecting disability—a ratio of about 19 to 1.
In June, there were 142,415,000 people actually working and 8,733,461 workers claiming disability—a ratio of about 16 to 1.
In July, in addition to the 8,753,935 workers who received federal disability insurance payments, there were also 165,564 spouses of disabled workers and 1,850,653 children of disabled workers who received payments. That brought the total number of disability beneficiaries to 10,770,152.
Federal disability insurance is funded by a 1.8 percent payroll tax that is split between employers and workers. Self-employed people pay the entire 1.8 percent.
The Social Security System’s Disability Insurance Trust Fund has run deficits in each of the last three fiscal years, meaning the government has needed to borrow money to pay disability benefits to the workers claiming them. In fiscal 2009, the Disability Insurance Trust Fund ran a deficit of $8.5 billion. In fiscal 2010, it ran a deficit of $20.8 billion. And in fiscal 2011, it ran a deficit of $25.3 billion.
To be eligible for federal disability insurance payments, a person must have worked long enough to have qualified for the benefits and must also meet the Social Security Administration’s definition of “disabled.”
“We consider you disabled under Social Security rules if: You cannot do work that you did before; we decide that you cannot adjust to other work because of your medical condition(s); and your disability has lasted or is expected to last for at least one year or to result in death,” says the Social Security Administration.
Whether someone has worked long enough to qualify for federal disability insurance payments depends on their age and the number of “credits” they have earned from the Social Security system.
“Social Security work credits are based on your total yearly wages or self-employment income,” the Social Security Administration explains. “You can earn up to four credits each year. The amount needed for a credit changes from year to year. In 2012, for example, you earn one credit for each $1,130 of wages or self-employment income. When you've earned $4,520, you've earned your four credits for the year.”
According to the Social Security Administration’s formula, someone under 24 years of age would qualify for disability payments if he or she had earned at least 6 credits—or about $6,780—over the three years before they became disabled.

CNSNews.com is not funded by the government like NPR. 
CNSNews.com is not funded by the government like PBS. 
CNSNews.com relies on individuals like you to help us report the news the liberal media distort and ignore. Please make a tax-deductible gift to CNSNews.com today. Your continued support will ensure that CNSNews.com is here reporting THE TRUTH, for a long time to come. It'sfast, easy and secure.

Thank You CNS and Mr Jeffrey.
OK, do you want to buy more SSI/SSDI Disability with money we Don't have, so that a batch of Lying, Delusional, Socialist Academic, Proudly Self Identified Illuminati, can continue to sit on their asses Intuiting their own Superiority to everyone else through watching movies at Esalen?
Do you want to Buy more Disability with money we Don't have to prop up a block of bought and paid for Votes in Nancy Pelosi and Dianne Feinstein's back yard?
Do you want to Buy more Disability with money we Don't have to keep the doors open on a NATIONAL TRAINING CENTER for RACIALLY PREFERENTIAL Diagnosers who can't even Diagnose the difference between Administrative Code and a Performance Objective on $16.3 Million Dollars of Other People's Money, ...... so they can Continue to Cure Incurable 'Mental Illnesses' when the 'Mentally Ill' person is of their own ethnicity?

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Tuesday, July 24, 2012

1 In 10 Employers Already Saying They'll Drop Health Coverage

Hot Air.com has;

And So It Begins: One In Ten Employers Already Saying They'll Drop Health Coverage 
POSTED AT 3:21 PM ON JULY 24, 2012 BY ERIKA JOHNSEN
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Mental Health: Stupidity We Just Can't Afford, Now More Than Ever

Mental Health with its endless cripples, corpses, and rapacious expense returning us no positives whatever is a scam we never Could afford, certainly not under the Bill of Rights, but in sheer dollars and cents, now more so than ever.

It's breaking Every Government program its attached itself to, and as its capture criteria widen and more people become ever more emotionally and perceptually disoriented, and physically sicker with Real diseases through being reduced to medical profit cyphers, the debt we've encumbered ourselves with to accelerate its encroachment has broken our back.

Psychiatry's Raid On America's SSI & SSDI

And SSDI is Where right now? The Weekly Standard has;

Americans Joining Disability Now Outpacing Americans Finding Jobs



So drop us a line, those of you who've actually Gotten that FREE WhatEver it was you voted for in the last Presidential Election.

Here's the Senate Budget Committee Republicans with more.

 CBO Issues Sessions-Requested Report On Dramatic Surge In Americans Receiving Disability Insurance 


“It is clear there is a great need to distinguish between proper and improper disability claims, and to better incentivize and find acceptable work for those who are able… The administration of this program must be improved to avoid sinking our country deeper into debt, to ensure the program remains viable for those with disabilities, and to protect Social Security itself.”
WASHINGTON—U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued the following statement today upon receipt of a report from the Congressional Budget Office about the immense growth in the Social Security Disability Insurance program. Over the last three months, more Americans have begun receiving SSDI benefits than have found jobs:

“Today’s report from the Congressional Budget Office reveals a dramatic increase in applications and awards for Social Security disability, placing the disability trust fund on a fast-track to insolvency in just four years. Amazingly, while fewer Americans are working than at the end of 2008, 3.6 million Americans have been awarded SSDI benefits over the same period. The growing number of people on disability and other federal benefits, combined with weak economic growth, raises serious concerns about the sustainability of the American economy.

It is clear there is a great need to distinguish between proper and improper disability claims, and to better incentivize and find acceptable work for those who are able. Today only 1 percent of Social Security disability recipients ever return to work. The administration of this program must be improved to avoid sinking our country deeper into debt, to ensure the program remains viable for those with disabilities, and to protect Social Security itself.

Not only does the surge in SSDI beneficiaries jeopardize that program, it also hammers Medicare. When a person has been disabled two years, they automatically receive Medicare benefits regardless of age. The CBO report states that in 2011, DI expenditures totaled $128 billion and Medicare costs for SSDI recipients were an additional $80 billion.”

BACKGROUND: SSDI and CBO Findings

  • The Social Security Disability Insurance (SSDI) program was established in 1956 to provide monthly cash payments to individuals who are unable to perform any substantial, gainful activity due to long-term disability. Benefits are provided by the Disability Insurance Trust Fund, which is financed primarily through a payroll tax of 1.8 percent. While SSDI is funded by federal payroll taxes, eligibility is initially determined by state officials.
  • CBO finds that in addition to changing labor force dynamics and an aging population, the 1984 federal expansion in eligibility criteria has brought the SSDI program to the brink of insolvency. Since 2009, the SSDI program has been paying out more in annual benefits than it receives in taxes and interest on the trust fund’s assets. Consequently, the trust fund is shrinking and will be depleted by 2016—just four years from now.
  • As of May 2012, 8.7 million disabled workers were collecting Social Security Disability Insurance.
  • Between 1970 to 2011, the number of disabled workers receiving SSDI rose from 1.4 million to 8.3 million, significantly outpacing growth in the working-age population during that period. SSDI made up 10 percent of Social Security expenditures in 1970; by 2011, it was nearly 18 percent.
  • Over that period, the federal government’s cost per beneficiary rose from about $560 to $1,050 (in 2010 dollars). Inflation-adjusted expenditures for the DI program (including administrative costs) increased nearly nine-fold, to $128 billion in 2011. CBO concludes, “as a result, a growing share of spending for the Social Security system is being directed to participants in the DI program.” After two years, SSDI recipients also become eligible for Medicare coverage. In 2011, Medicare paid $80 billion for SSDI beneficiaries.
  • A July 2011 Government Accountability Office (GAO) report found that while SSDI beneficiaries are responsible for notifying the Social Security Administration when they return to work, this rarely happens. Known overpayments reached $1.4 billion in 2010. According to GAO, nearly 75 percent of known overpayments were made to beneficiaries who had returned to work and were no longer eligible for benefits.
  • In December 2011, the Social Security Administration commissioned an independent review of the federal disability system amid concerns that the program awards benefits to those who don’t deserve them and denies benefits to those who do. A draft of the report is expected in August, with final recommendations being released in November. The study will also focus on why federal courts are overturning many of the initial denials.
Someone's going to have to pick up the check on this and more of our current Winning The Future nonsense.

Wait a minute, Wait just a minute. Green Jobs, yeah, That'll Win The Future, That'll fix Everything.

The Nachumlist has;

Solyndra Gate,

(because just linking it would have been like saying a Trillion Dollars without seeing how much a Trillion really is)


Solyndra-Gate
 A Conservative News and Opinion Resouce
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 If you think Solyndra was a boondoggle, just wait till you get the Rest of your FREE ObamaCare.
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