deficit commission

Alan Simpson is the co-chair of President Obama's Deficit Commission, which is charged with creating a bipartisan consensus for balancing the budget. Lately Simpson's foulmouthed tirades have drawn at least as much attention as the Commission's actual work. His latest rant -- which includes denigrating an activist for women's issues with remarks about "a milk cow with 310 million tits" -- crosses the line once and for all. It demonstrates conclusively that he possesses neither the judgment, the ability, nor the emotional stability to carry out his mission. He's become an embarrassment to the President and an impediment to his Commission's objectives. He must resign immediately. If he's unwilling to do so, the President must fire him. more »

More »»

Progressive bloggers were ready to have a "stroke" after Mike Allen from Politico reported that the Administration wants to take action on Social Security - action that's likely to include cuts. Many were relieved when Tim Fernholz of the American Prospect, who attended the same briefing Allen did, assured them that Allen got it wrong. Well, I was at that briefing too. This may be bad news for the cerebro-vascular health of the progressive movement, but it seems to me that Allen got this one right. more »

More »»

There's a great deal of alarmist talk these days about the fact that Social Security won't be adding to its surplus this year. Instead it will call in some interest payments (and possibly other monies, too) on the money Uncle Sam borrowed from its fund. (When a rich person retires on interest income they're called "lucky" or "successful." When the rest of us do - however indirectly and slightly - it's called a "crisis.")

Those who claim to be so gravely concerned about the financial stability of Social Security should consider this: If our government had put ten million unemployed Americans back to work, Social Security would have added to its surplus this year. more »

More »»

A broad coalition of groups has been formed to defend Social Security, and the videos announcing it are all worth watching. Of all the ideas proposed, my personal favorite comes from AFSCME President Gerald W. McEntee: A new reality show starring the people who want to cut Social Security. He suggests having John Boehner, billionaire benefit-cut advocate Peter G. Peterson, and Deficit Commission chairs Alan Simpson and Erskine Bowles live for a year on the average Social Security benefit of $14,000.

"They won't get a COLA (cost of living increase," says McEntee, "but they'll still have to deduct $100 a month for Medicare Part B and still have to pay $200 a month for Medigap insurance." (The video of his comments is below.)

More »»

There's a new undercurrent in Washington debate, an unstated drive to undo the bipartisan consensus that's governed American policy for a century. New pieces by Fareed Zakaria and Clive Crook merely reflect the new unspoken theme that's revealing itself in debates on taxation, Social Security, and a dozen other areas: If the wealthy must sacrifice anything, then the middle-class and poor must sacrifice at least as much. The old belief that greater fortune brings greater responsibility is under attack. The idea that "to those whom must has been given, much is expected" is being overthrown. more »

More »»

More than 60 organizations that represent more than 30 million Americans are banding together to deliver a straightforward message to politicians this fall: Don't mess with Social Security. more »

More »»

This week's big story is that a faker scammed the media, trashing an innocent USDA employee's career in order to push a false right-wing narrative. But another scam's underway too, and it's targeting Social Security and other entitlement programs. As Republicans (and at least one Democrat) pushed budget-busting tax cuts, the "bipartisan" leaders of the Deficit Commission showed their true colors as extremists who peddle panic and hold "hearings" despite having their minds already made up. One of them said that the Federal debt is a "cancer," adding that you "can't tax your way out of it" - and that was the Democrat! Meanwhile the Republican complained that November's elections will be "disruptive," creating "wreckage" that will interfere with their plans.

When you think about it, Shirley Sherrod and the the Social Security system have a lot more in common than their initials. more »

More »»

In the deficit hysteria now sweeping Washington, Social Security has emerged in the bull's-eye as a target for cuts. Perpetually tanned Republican House Minority leader John Boehner, called for hiking the retirement age to 70. more »

More »»

We need smart economic policies to reduce our structural federal deficit over time. But we are in danger of killing or weakening needed growth in the name of reducing deficits, and some of our deficit-reduction strategies are misguided. Plus, reducing the deficit cannot be our only economic policy goal. We also need to invest in the future.

More »»