Wednesday, July 9, 2008


Dean Baker, Prospect - At a forum day, after wrongly claiming that Social Security won't be there when young workers retire, McCain went on to say: "Americans have got to understand that we are paying present-day retirees with the taxes paid by young workers in America today. And that's a disgrace. It's an absolute disgrace, and it's got to be fixed."

Of course present-day retirees have always been paid their benefits from the taxes paid by current workers. That has been true from Social Security's inception. Some folks might have thought Senator McCain's description of Social Security as a "disgrace" was worth a mention somewhere in the media, but the NYT, Washington Post, WSJ, and USA Today don't seem to have noticed.


At July 9, 2008 1:29 PM, Anonymous m said...

Part of the Bush, and apparently now McCain, war on Social Security (SS) is to denigrate the ability of the system
to meet the promised payments. Aside from outright lies about SS, the
Bush administration has repeatedly low balled revenue estimates for
the system, and used the most conservative economic predictions in
setting those estimates. A number of analysts have said that if the
administration economic projections for SS came true, the nation would
have much larger problems than SS. It may very well be true that
after this administration is over, that our economy will be in such a

Until the Bush administration took office and started making their
politicized projections, the "bankruptcy date" for SS has been
extended by more than a year for each budget year that has passed.
This means that SS is in fact solvent, and likely to remain that way
with minor, if any, tweaking. An administration that produced more
realistic projections would make that clear.

To refuse to fulfill the promises of SS would not only wreck hardship
on many who have included them in their retirement plans, but would
have a tremendous impact upon the eventual stability of the system.
SS must be seen as a system that is integral and vital to all, or it
will go the way of so many underfunded programs. SS would be replaced
by a new version of "workfare". Especially as there is no
demonstrable need other than the chicanery of the politicized Bush
accounting fraud.

The real problem is of course with Medicaid. The existing issues have
been tremendously exacerbated by the additions of the pharmaceutical
coverage. The difficulties with the structure of this program are
well known, and I need not recount them. I will only note that a
person more suspicious than myself might believe that the legislation
used to enable this disaster was not only a corrupt gift to the
industry, but a means of bankrupting and destroying the concept of

At July 9, 2008 8:40 PM, Anonymous just wondering said...

The thing that pisses me off about John McCain and his supporters is that he admits he broke under torture and gave the position of his ship and his bombing route from it. Which means he wanted to live enough to sacrifice his fellow pilots. So my question is why is it a pampered cowardass admiral's son can have a breaking point but poor people who've struggled every fuckin' day of their lives just to survive cannot have a breaking point?


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