Biden Pledges to Secure Worker Pensions... in Ukraine, Meanwhile SS is failing

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Biden Pledges to Secure Worker Pensions… in Ukraine

By Mike Miller | 12:30 PM on February 19, 2023

Biden vows to back pensions in Ukraine.

Before we begin, take a close look at the image, above. I screenshotted it from the video in this article, in which Joe Biden made the remarks I’m going to write about. Does that guy look coherent, much less capable of holding the office of the President of the United States?

The question is rhetorical, of course; let’s move on.

Here’s Biden in a White House statement announcing yet another aid request for Ukraine — but this one’s “different.”

It’s gonna deliver much-needed humanitarian assistance, as well as food, water, medicine, shelter, and other aid to Ukrainians, displaced by Russia’s war. And [to] provide aid for those seeking refuge in other countries.

It’s also gonna help schools and hospitals open. It’s gonna allow pensions and social support to be paid to the Ukrainian people so they have something in their pocket. It’s also gonna provide critical resources to address food shortages around the globe.

Astonishing, ain’t it?

Joe Biden just announced the US is going to be supporting the pensions in Ukraine pic.twitter.com/9wfBPbf3RQ

— Jack Posobiec :us: (@JackPosobiec) February 18, 2023

Hey, Joe — three words: East Palestine, Ohio.

You know, that small insignificant town somewhere in the middle of the country where that train derailment thing happened? The one that spilled toxic and carcinogenic vinyl chloride? You know, the one your Transportation secretary, Pete Buttigieg, assured us (and presumably the people of East Palestine) not to worry, because 1.000 train derailments happen every year? Yeah, that.

My “favorite” part about Biden’s delusional world is his fantastical belief that a majority of Americans watching his pronouncements actually agree with him. In this case, as if to say: “Hey, to hell with my pension— I can get behind this knucklehead assuring me that he’ll back pensions in Ukraine!”

You can read Biden’s entire statement here. A few of my fave parts:

Hello, everybody. Good morning. I just signed a request to Congress for critical security, economic, and humanitarian assistance to help Ukraine continue to counter Putin’s aggression and — at a very pivotal moment.

We need this bill to support Ukraine in its fight for freedom. … The cost of this fight is not cheap, but caving to aggression is going to be more costly if we allow it to happen.

And incredibly, this:

This funding is going to help ease rising food prices at home as well, and abroad, caused by Russia’s war in Ukraine.

It’s going to help support American farmers produce more crops like wheat and oilseed, which is good for rural America, good for the American consumer, and good for the world.

Show of hands — who thinks Biden’s open checkbook to Ukraine is going help ease food prices in America? Anyone?

Yeah, Joe, we’re not buyin’. Then again, we never did.

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Who’s going to foot the bill for Ukrainian worker pensions?

Right. Russia.

Kiev refused to pay pension to retired folks in the Donbass while it was still Ukraine. Russia was paying them before Donetsk and Lugansk joined the Russian Federation.

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As American taxpayers paying into Social Security today stare down the barrel toward substantial cuts to their own benefits, estimated to take place in 2034, they can at least take solace in knowing that all categories of Ukrainian pensioners will get a 20% raise in March 2023. “As early as this March,” says Ukrainian Prime Minister Denys Shmyhal, “the government will index pensions by 20%” for about 10 million Ukrainians.

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all payroll taxes are accounted toward benefits does the Social Security Administration tap into the “assets” of the trust funds.

These “assets” aren’t in a piggybank somewhere. The trust funds are owed principal and interest for non-marketable bonds that they purchased from the Treasury during those years when payroll tax income exceeded the benefit outflows. In other words, the assets and debts only exist on paper, and without any marketable value, while the government that owes the debt spent that money a long time ago. While the principal and interest are listed as an asset to the Social Security trust funds and as debts to the Treasury, the Treasury can’t even come close to paying its bills, and is running at incredible annual deficits. In fiscal year 2022, the government spent nearly $6.3 trillion, collected $4.9 trillion in revenue, and experienced a $1.3 trillion deficit.