Tuesday, November 16, 2010

Concerned about #socialsecurity? Arm yourself with knowledge.

If you hear anybody say that we need to cut Social Security, Medicare, Medicaid, (or any program for that matter) because they are going to bankrupt America, they either don’t understand how public finance works or are simply lying to you!  Most likely they are lying, but I’ll give them the benefit of the doubt ‘cause I’m a nice guy:)

This post dismantles the central argument behind SS privatization or reform: the US will not be able to afford those programs in the future, so we should take measures to cut them now.  Once that argument dissolves we are left scratching our heads wondering, “So why do we want to do away with those programs?”
Short answer:  so that Wall Street can package up our already secure national pension system and sell it back to us, at a premium, but without the assurance that it was originally designed to provide.

Arm yourself with the facts regarding Social Security and public finance.  Things are going to get ugly in the politics of public spending.  There will be a torrent of misinformation, designed to dupe you into cutting of your nose to spite your face. 

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