Social Security
Top Stories
Looting Social Security
February 18th, 2009
Defending Social Security sounds like yesterday's issue #&8212; the fight people won when they defeated George W. Bush's attempt to privatize the system in 2005. But the financial establishment has pushed it back on the table, claiming that the current crisis requires "responsible" leaders to take action. Will Obama take the bait? Surely not.
Featured Issues
The Perils of Privatization
Conservatives are trying to resurrect an idea to radically change Social Security that has already been soundly rejected by the American people—privatization. A new series of Institute for America's Future reports finds that if privatization proponents succeed, 8.6 million senior citizens would lose a safety net that keeps them from falling into poverty.... more »
The Conservative Plan for Social Security Is “An Absolute Disgrace”
Sen. John McCain's comment last week that it's an "absolute disgrace" that current workers pay for the Social Security benefits of current retirees was bad enough, but the conservative policy alternative, and the fear-mongering that comes with it, is even worse. Here's how to attack it.
... more »
Colloquy For Crisis
By Digby
December 10th, 2009
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.... more »
The Case
Retirement with Dignity
We need to make it possible for all Americans to retire with dignity at the end of a lifetime of work. That means protecting Social Security and mandating corporations treat their employees the same as their executives when it comes to health and retirement benefits.
The Privatization Threat Is Back
Prominent Republicans have come out publicly in past weeks stating that, given the chance in 2007, they will push Social Security privatization again. This includes...
The Facts
Less than half of workers participate in a retirement plan
Only a fraction of workers who participate in a retirement plan have access to a traditional kind of pension that guarantees income in retirement
The Social Security "crisis" is a right-wing myth
Social security assets assets, held in the form of U.S. Treasury securities, will last another 38 years
The News
The Case
Move Your Borrowing Along with Your Money
The New Rules Project, in partnership with HuffPost's Move Your Money campaign, is using its Community Banking Initiative to get out the word that banking locally can put the power back in the hands of individuals and communities, rather than Wall Street's CEOs.more »
Lining up at Midnight at Wal-Mart to buy Food
"On the one hand, you have the financial sector swimming in their bailout-induced profits like a modern day Scrooge Mcduck. In their circles, it appears as if the recession is over. On the other hand, you have average Americans seeing access to credit cards shut down, equity in their homes vanishing"more »
Latest from our Bloggers
jan
26
2010
3:15 pm
3:15 pm
The progressive coalition against fiscally foolish austerity scored a significant victory today, defeating the undemocratic Conrad-Gregg deficit commission in the Senate. more »
jan
20
2010
12:21 pm
12:21 pm
Earlier today, progressive leaders representing more than 50 organizations declared their opposition to the Conrad-Gregg debt commission proposal, which is expected to be introduced on the Senate floor soon as part of the bill to allow our federal government to meet its obligations by raising the debt ceiling. more »
jan
15
2010
12:18 pm
12:18 pm
The country has a very large debt built up from years and years of borrowing since Reagan. Bush's last budget year had a deficit of $1.4 trillion! This borrowing was caused by:
1) Conservative tax cuts for the rich under Reagan and Bush II that broke the budget.
2) Conservative spending increases, mostly on military. more »
jan
10
2010
8:42 am
8:42 am
The Washington Post ombudsman finally responded to the complaints about the paper's inappropriate relationship with Pete Peterson and his new "news" operation the Fiscal Times. more »
jan
6
2010
11:13 am
11:13 am
At the end of the year the Washington Post published as "news" a story, "Support grows for tackling nation's debt" that pushed the idea of "a special commission to make the tough decisions that will be required to dig the nation out of debt" and "rein in skyrocketing spending on Medicare, Medicaid an more »
jan
6
2010
10:24 am
10:24 am
The New York Times reported today on The Fiscal Times scandal that has the Washington Post on the defensive. And the NYT framed the controversy in the exact right way (emphasis added): more »
jan
1
2010
5:44 pm
5:44 pm
On Thursday, December 31, The Washington Post published an article, presented as a news story, which could be a signal of the death of the Post as an independent and objective news source. more »
dec
13
2009
9:47 pm
9:47 pm
On Monday morning, wealthy hedge fund mogul Peter Peterson and his Commission on Budget Reform will hold a press conference to issue a "Call to Action to Stem the Mounting Federal Debt." Their scary promotional material declares, "The ever-growing federal debt is spiraling out of control. If not addressed . . . more »
