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View Diary: Take Social Security off the table (159 comments)

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  •  NYT sez Obama has already agreed to cuts (1+ / 0-)
    Recommended by:
    gulfgal98

    Matt Bai refers to his article last spring in which Obama agreed to cuts in Social Security, Medicare and Medicaid.

    Will Obama Agree to Entitlement Cuts?
    By MATT BAI
    He Already Has
    The cuts Obama agreed to are described in Bai's article last spring linked here:
    ...  And in a move certain to provoke rebellion in the Democratic ranks, Obama was willing to apply a new,Obama vs. Boehner: Who Killed the Debt Deal? less generous formula for calculating Social Security benefits, which would start in 2015. (The White House had rejected Boehner's bid to raise the retirement age.) ...

    Obama vs. Boehner: Who Killed the Debt Deal?  Why the Debt Deal Failed: Matt Bai offers a primer in less than 60 seconds.

    I concur with the view that the only way to stop these cuts is to make Obama stop cutting these kinds of deals.
    •  Well, we are sincerely hoping that Obama has (3+ / 0-)
      Recommended by:
      gulfgal98, LucyandByron, howd

      learned something from the past year or so and won't go down that road again.

      The Social Security funding situation is entirely and completely separate from the Federal budget deficit.

      To solve the budget deficit, they should look to revenues first, since taxes are at an historic low point point today.  Then budget cuts in wasteful defense spending.

      Social Security has its own stream of revenue which is nearly sufficient.  The shortfall projections can be greatly eliminated by erasing the cap on taxation of income above $110,100.

      "The law is meant to be my servant and not my master, still less my torturer and my murderer." -- James Baldwin. July 11, 1966.

      by YucatanMan on Tue Nov 13, 2012 at 02:43:12 PM PST

      [ Parent ]

      •  Stop, ever read the 2012 low cost projection? (1+ / 0-)
        Recommended by:
        skywriter

        I like the part where it says, the Fund will not be depleted ... you know past 2090.......

        Adjust the income CAP to 90% and leave it the fook alone.

        FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

        by Roger Fox on Tue Nov 13, 2012 at 02:53:24 PM PST

        [ Parent ]

      •  You and I and most of DK agree to that (1+ / 0-)
        Recommended by:
        YucatanMan

        but I'm not so sure Obama and his opportunistic economic advisers do.

        I think the trouble they see is that there has been so much borrowing from Social Security, they see no way to pay it back. That's where Al Gore's discussion of the "lock box" is so important. Most of the debt the US owes is to Social Security and to bond buyers. I think they want to cut short what is owed the American people by, in effect, cancelling that debt by raising the age of retirement and as Matt Bai says cutting what has become traditional in Social Security, that is, raising what each retiree or disabled person receives according to the cost of living (inflationary) increases. So the Democrats willing to cut this deal with Republicans who love it, in principle, can make cuts without drawing blood that people can see. I think it's a terrible idea and Obama should go back to the drawing board about this.

      •  YucatanMan -- read the two Matt Bai articles (1+ / 0-)
        Recommended by:
        YucatanMan

        as the reporting gives credence to the view that Obama has already cut this deal and in all likelihood won't back off --- without a massive outpouring for him to back off this sellout.

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