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View Diary: Obama 'surrogate' Orsag "Pimping Social Security cuts again" (55 comments)

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  •  Early days but the blathering (8+ / 0-)

    from Dems about fiscal cliffs & "sensible plans like Simpson/Bowles" (FU Ed Rendell) makes me even more wary than usual. As for Mr. Orszag,he has been clear that he wants future benefits cut.

    We put forward one such plan in a 2005 book. Updating our plan for the intervening period, the medium earner retiring in 2050 would experience a reduction in benefits of less than 10 percent -- compared with more than 30 percent under a Romney-type approach.

    The medium earner’s annual benefit in 2050 is currently projected to amount to $25,000 a year in inflation-adjusted terms. The Romney-type approach would reduce that by about $7,500 a year. Under our plan, it would be only about $2,500 lower. That $5,000 difference is substantial, especially for someone whose retirement income is mainly from Social Security.  

    Now,given the growing income inequality in the US,which is increasing not declining,how exactly is this a good idea? It certainly isn't a progressive one.The runaway greed at the top has to end. The 2012 electorate just sent that message,did DC hear it?

    "George RR Martin is not your bitch" ~~ Neil Gaiman

    by tardis10 on Thu Nov 08, 2012 at 12:01:33 PM PST

    •  Its laughable, really, (3+ / 0-)
      Recommended by:
      tardis10, joe shikspack, aliasalias

      "reduction less than 10%" of an already too low benefit.

      We need to raise the SS benefit, not lower it.

      Thursday, November 8, 2012
      Brady: no cuts in Soc. Security, Medicare; raise taxes on jet fuel

      The election is over, and the gears of government are slowly creaking back into motion, beginning with lawmakers staking out positions on the fiscal negotiations that will dominate the next few months, and perhaps longer.

      So today, as Washington girds for a debate on the size and scope of government and how to pay for it, Philly U.S. Rep. Bob Brady, the city’s Democratic chairman, planted his flag on the left, declaring that he would not accept any cuts to Medicare, Medicaid or Social Security. Tuesday’s election results, he said, show that the public is with him.

      “I don’t know what other message we could send them other than what we sent them on Tuesday … do not mess with our Social Security, do not mess with Medicare, do not mess with Medicaid,” Brady said, standing with about 50 union members outside Social Security Administration offices on Spring Garden Street.

      For people who depend on Social Security, “their bills aren’t fixed, the grocery store’s not fixed, they all go up and up and up.” Around him, union members cheered.

      The wealthy might support Medicaid cuts, because “they’re never going to use it because they got all the money, but we sent a message to all the money, didn’t we?” Brady said, wearing a blue House of Representatives wind breaker and gray Nike work out pants.

      Move Single Payer Forward? Join 18,000 Doctors of PNHP and 185,000 member National Nurses United

      by divineorder on Thu Nov 08, 2012 at 02:20:28 PM PST

      [ Parent ]

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