May 15, 2014

Oh, Those Days When Cutting Social Security Seemed Inevitable

     From Huffington Post:
American deficit hawks gathered in the nation's capital on Wednesday to commiserate over the collapse of the U.S. austerity movement, solemnly hobnobbing with political royalty to reminisce about the days when slashing Social Security seemed all but inevitable. 
For the past five years, billionaire Peter G. Peterson's annual Fiscal Summit has been a Washington sensation, buzzing with top Obama administration policymakers, celebrity journalists and caffeinated think-tankers pitching budget plans to anyone who would listen. But the centrist scream for a Grand Bargain on taxes and spending has quieted as the budget deficit has declined and prophecies of a debt apocalypse remain unfulfilled. Interest rates on government bonds are near historic lows, and even Republicans appear to have abandoned "government spending" as a political weapon in favor of feverish Benghazi accusations.

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