From "Remapping Debate:"
No one has done more than the billionaire private-equity investor Peter G. Peterson to stir America’s anxiety over deficits, debt, and what Peterson (among others) considers out-of-control entitlement-program spending. Those same concerns now lie at the heart of a “fiscal responsibility” curriculum being developed for America’s high schools. The curriculum bears the stamp of Columbia University’s prestigious Teachers College, but reflects the focus suggested by the Peter G. Peterson Foundation, which provided $2.4 million in funding for the project. ...The cartoon is from the materials funded by Peterson.
[T]he trial lessons repeatedly point toward two core ideas of Peterson’s long crusade: first, that America’s future is threatened by deficit spending, and, second, that Social Security and Medicare have helped put our economy on an “unsustainable course.” ...
Robert Prasch, an economics professor at Middlebury College, voiced similar complaints about the way the curriculum deals with Social Security. “No effort is made to explore whether, and to what extent, there may or may not be a fiscal crisis facing Social Security,” Prasch said. “It is presumed or taken as an unimpeachable fact.”
4 comments:
I'm wondering if the government hadn't stole money from the FICA fund if social security or medi-care/aide would be in trouble?
The SSA used some of the trust fund to buy interest bearing treasury paper which is considered cash by brokerages and is backed by the full faith and credit of the USA. All is well unless the Gov. decides to not pay its debts. There are PG Peterson types who want to privatize SS and enrich themselves on the resultant fees. To that end they LIE AND CREATE FEAR about the reliability of SS They are likely to bribe or otherwise influence your elected Reps to destroy a very secure and reliable non-profit system with a high risk greed driven system that benefits a few rich, easy money, speculators such as Peterson.
The SSA used the surplus trust fund dollars to pay for current government expenses and (artificially) lower the deficits.
The interest bearing Treasury paper was issued as a "promise" to repay the trust fund for what the Treasury used to pay for other expenses.
This "promise" is no more funded than the revenues and debt that are used to pay for battleships.
Don Levit
Bullfeathers, Don. SSA didn't do anything. This is the Department of the Treasury's bailiwick. And you know it. Come on, pal, push your point of view, if you want, but do it honestly.
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