Joe Klein of Time picks up on Matt Bai's theme that only wild left-wing Democrats could oppose a "few minor fixes" to Social Security, such as raising the retirement age to 70 and reducing benefits. After all, "a move toward federal fiscal responsibility might encourage the U.S. business community to start investing the $1.8 trillion in cash it is hoarding and thereby create some jobs."
The Washington punditocracy is nuts. The idea that deciding to reduce Social Security benefits decades from now could provide an economic stimulus today is preposterous on its face. The changes that Klein favors are not "minor" in any sense. What is wrong with these people?
The Washington punditocracy is nuts. The idea that deciding to reduce Social Security benefits decades from now could provide an economic stimulus today is preposterous on its face. The changes that Klein favors are not "minor" in any sense. What is wrong with these people?
7 comments:
At least he does favor doing away with the income cap; that idea is the simplest, sanest, and fairest solution of them all.
I think what is happening is what is happening in general public discourse - there is no original thought, just a parroting of position statements.
I think the push back needs to be in attacking the income cap. There is just no good reason why our system lets people earning over $106,000 per year be exempt from contributions.
Keep in mind the people earning over $106,000 are not "exempt from contributions". In fact, they are paying more than all other citizens for this insurance and are the least likely to receive a positive return on their investment. There is plenty to debate here, but these are facts worth remembering.
All this proves is that neither Democrats nor Republicans have a clue as to what is going on nor how to fix it, as I have been saying all along. The government is broken, which is the impetus of the TeaParty movement in the first place.
I agree with federal fiscal responsibility. But not at the receipent expense. Instead free trade must be adjusted to benefit american jobs.
Anonymous, I am truly interested in being set right in my assumptions, if they are wrong, about the effect of the cap. How is it that you say a person above the wage cap is paying more?
An 85 year old woman recently retired and was worried that her Social Security check would not be enough to support her retirement. http://www.christianretirement.com Unfortunately, many people have to rely upon SS as their only source of retirement income.
The Bush/Clinton/Bush/Obama free trade policy decimated the American industrial base. How the hell can we create jobs without a strong manufacturing base? Stimulus money does create jobs - in China and Mexico.
Impose tariffs to equalize labor costs. Withdraw from NAFTA and other so-called "free-trade" agreements. Limit immigration, which also denies American citizens of jobs.
Since politicians, by definition, are worthless sacks of excrement, none of these policies will be implemented.
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