There is a highly funded campaign to cut Social Security and
Medicarewhile distracting us from the true sources of our multi-generational retirement crisis. This narrative can be traced back to the work of conservative billionaire Peter "Pete" Peterson and his foundation, who sent minions like Alan Simpson out to stigmatize so-called "greedy geezers" for our country's retirement woes.
The Peterson crowd has worked very hard to convince Millennials that the older generation has robbed them of retirement security, a strategy they've pursued with false-front organizations like "The Can Kicks Back." A number of lazy journalists have bought into their narrative without consulting experts in the field ...
The Peterson cohort's goal was to convince Millennials that the best way to get even with their elders was by cutting Social Security -- for themselves. (Most benefit-cut proposals exempt those who are about to retire, for political reasons.) It's astonishing that they expected Millennials to fall for it -- which, according to polls they haven't. But then, it's equally astonishing how many pundits and politicians have fallen for it.