Peterson Foundation

"Hmm," writes a blogger. "Liberals need to get off their fainting couches." It's in an argument for cutting Social Security benefits - and it comes from a liberal.

Benefit cuts would hurt millions of disabled and elderly people, harm our economy, and wound our social character. more »

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Recently I wrote that the deficit-cutting projects and media campaigns sponsored by billionaire Pete Peterson all "focus on the same narrow band of options" that "reflect far-right positions," but nevertheless are usually described in the media as "moderate" and "bipartisan." more »

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Today, Senators Gregg and Conrad had a colloquy on the floor of the Senate arguing for the Pete Peterson Foundation's pet project, the Bipartisan Committee To Destroy Social Security and Medicare So Wealthy People Don't Ever Have To Pay Higher Taxes (aka "Our Favorite Idea That's Been Lying Around".) And quite an exchange of scary rhetoric it was.

The timing of this is being driven by events, to be sure. But the events that drive it aren't the debt projections, which are highly reflective of a moribund economy and will thus change dramatically if the government enacts policies that expand growth and lead to full employment. No, what's driving this initiative is the mass confusion around the bad economy and the financial system catastrophe, which provides the perfect moment to push a little "economic shock therapy" on the American people.

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