I Support Social Security

Save Social Security: Paul Krugman for Treasury Secretary

7 January 2013 at 8:47:41 PM

From Truth-out.org: "Many American liberals and economic populists are on guard in the wake of the fiscal cliff deal between Congress and the President on taxes and revenue because what Washington expects to negotiate in the next two months is cuts. With the automatic Pentagon cuts of the "sequester" postponed, rather than canceled, we're still operating in the framework of the Budget Control Act, which mandates $1.2 trillion in reduced projected government debt over 10 years. The deal on revenue took care of half of that. The Washington understanding is that the other half will come from cuts.

The two most dangerous proposed cuts from the point of view of the long-term interests of the majority of Americans are the proposal to cut Social Security benefits forever by reducing the annual cost-of-living increase (using "chained CPI," a measure of inflation that rises more slowly than the currently used measure) and the proposal to cut Medicare benefits forever by raising the Medicare retirement age to 67, forcing more seniors onto the private insurance market. Many establishment Republicans want these cuts; many Wall Street Democrats want these cuts; and the President has signaled his potential willingness to agree to these cuts as part of a "big deal." Most liberal groups vehemently oppose these cuts, and the majority of Americans would never go along with these cuts - reducing the benefits working families have already paid for through their payroll taxes - if they have effective say.

But two months from now, automatic cuts to Pentagon discretionary spending will again loom, tax increases will likely not be on the menu of negotiations and Republicans may again try to wield the purported threat of default by saying that they won't raise the debt ceiling without big cuts, including cutting Social Security and raising the Medicare retirement age.

Two months from now, who do you want leading the President's negotiating team? Someone who will fight tooth and nail to protect Social Security and Medicare benefits, or someone who will trade those paid-for benefits away in order to protect bloated Pentagon spending and endless war?

Treasury Secretary Tim Geithner, who has led the President's negotiating team, is stepping down. President Obama has not yet named his replacement.

Beltway conventional wisdom is that the Treasury secretary has to be vetted by Wall Street. In the wake of the financial and economic crisis brought on by Wall Street gambling, that's a bad idea to start with. We need a Treasury secretary who can stand up to Wall Street, not a Treasury secretary chosen by Wall Street.

But the fact that negotiations over 10 years of cutting debt are hanging fire makes the idea of a Wall Street-chosen Treasury secretary especially dangerous, because Social Security and Medicare benefits are in peril, and bigfoot military contractor lobbyists will be pushing Congress to cut domestic spending instead of Pentagon spending. Now, more than ever, we need a Treasury secretary for the 99%. We need a Treasury secretary who will see job creation, not austerity, as job one."

Read the rest: http://truth-out.org/opinion/item/13735-save-social-security-paul-krugman-for-treasury-secretary


Permalink Tags:          
     Views: 984 
Latest Blog Post by humanbeing -State Department Admits It Doesn't Know Keystone XL's Exact Route
More Posts You Might Enjoy
Social Security and Medicare Programs
The Lunatics are trying to get rid of Social Security and Unemployment Benefits AGAIN!
Now THIS is sobering- If Bush/McCain Views of Privatized Social Security Had Prevailed
Lame Excuse O Day-We Don't Want To Change Medicaid Cards Because it Would SCARE Old People

 You! Leave a Comment! You Know you Want To!
You are posting anonymously
(After sending, your comment is held pending approval)

Name:        -Anonymous comments are always moderated
Email:        -Required but your email will not show

Or you can login!

LOGON - Name:Password:

 Not registered?

New poster comments are moderated, meaning they won't show up until approved... or not.  Be patient-we have lives outside this blog, so it might take awhile You want to be rude? totally stupid? inappropriate? Racist? Bigoted? Flame war baiter? Your post may be deleted. Spammers or people posting pretend interest comments but really wanting to hawk their latest book or sell stuff or govt propaganda flacks won't see their posts published. Comments do not necessarily reflect the viewpoint of the site owner(salon).
If you have a problem with logging in or registering, please speak up right away. Love your comments. Oh, except spammers
More on commenting

Click Here for Main Page

Latest Posts

Ruminations of the Easily Amused for 8/29/2016
salon 8/29/2016

Video-Ray Reynolds on whether GRMC will be open a year from now (July 28 2016)
salon 8/29/2016

Rumour Mill- 8/29/2016- Is Dr Hutchinson leaving Glen Rose Medical Center?
salon 8/29/2016

Transparency and Ethics In Local Somervell County Government? ???? (2016)
salon 8/29/2016

Video-On Being a Team- from Somervell County Commissioners Court- August 2016
salon 8/29/2016

Ruminations of the Easily Amused for 8/28/2016- I am the QUEEN edition!
salon 8/28/2016


Thiseasyfix i heard the court mention about making employees pay for there insurance well if they passed that they wouldn't have any employees to worry about.   (Video Somervell County Commissioners Court August 26 2016)

salon > Good article from the Texas Observer entitled ‘Corporate Bullying’ by Luminant May Shutter Glen Rose Community Hospital Hah. They're missing, however, that Hankins called Lum.... (Ron Hankins Says What Luminant is Doing is *Corporate Evil* and *Bullying*)

salon > VERY NICE!!!! FINAL HEART OF CHRISTMAS commercial from Heart Of Christmas on Vimeo.   (Glen Rose Reporter has a new editor Ben Tinsley)

salon > @PDiddie. This is a huge deal here. Around 80 percent of the property taxes in Somervell County come from Luminant. Luminant is appealing a judgement from the local district court to pay what Somervel.... (Request for Open Record re: Protest Document Going to Attorney General (August 24 2016) )