The Fix the Debt millionaires and billionaires set themselves a goal
: "Enact a comprehensive debt reduction plan by July 4, 2013." That "Grand Bargain" they were championing was based on Simpson/Bowles $4 trillion austerity program to cut Social Security and Medicare while netting a tidy $173 billion in immediate tax windfalls
to 59 of the organization's corporate members.
But austerity has fizzled and Fix the Debt missed their deadline and completely failed to garner public support.
The empirical evidence for austerity has been blown out of the water by a 29 year old graduate student and even the IMF thinks austerity is a bad idea these days. Congress is no closer to a "Grand Bargain" than they were at this time last year, and Fix the Debt has only gathered 3.5% of their 10 million signature goal. Fix the Debt spokesman Jon Romano admitted to CMD that most of the petition signatures the group did collect were not their own, but purchased from a liberal website Change.org.
Fix the Debt isn't going anywhere—they've got too much money and too much power at stake. But they've been dealt some serious blows. Let's just keep kicking them, as long as they're down. Sign our petition to tell President Obama and congressional leaders to increase Social Security instead of cutting it.
While you're at it, tell Congress it's time to eliminate tax loopholes for corporations and the wealthy