Elizabeth Warren, along with a very few others, is reviving the best ideals and policies of the Democratic Party. It’s not the current version of Democrats, just a wing of the Money Party. It’s the real thing. Warren has seen the ugliest features of the financial collapse/corporate enrichment program since 2008. She’s been put down by Obama, Geithner, etc. And, she’s suffered some nasty sexism since she’s a strong woman telling the truth. Here’s one of her many rational programs.
Elizabeth Warren: It’s the Right of Every American to Retire with Dignity — Why We Must Expand Social Security By Senator Elizabeth Warren, D-MA
December 27, 2013
For a generation now, working families have been squeezed by stagnant wages and rising costs for housing, health care, and college. Even as families have cut back on expenses for things like food, clothing, furniture, and appliances, it hasn’t always been enough; many have been forced to take on more and more debt just to pay for necessities.One major consequence of these increasing pressures on working people is that the dream of a secure retirement is slowly slipping away. Families haven’t been able to save as much as they used to, and only 18 percent of private-sector workers have defined benefit pensions today compared with 35 percent two decades ago. Forty-four million workers have no workplace retirement savings plan. Read More
It is hard to sort the wheat from the chaff when it comes to Social Security. Will the system survive through 2033, the current drop-dead date for full benefit funding? Are cuts in the program really necessary? Is killing off Social Security the ultimate wet dream of sadistic billionaires without regard to the realities of the system? (Image)
The solution to the problems of social security is right before our eyes and nobody is talking about it.
Work is the new retirement
That’s right. Long-term negative economic factors have created a survival path for Social Security. The negatives allow expanded benefits and assure the financial health of the system. As people keep working well past the assumed retirement age of 65, Social Security looks a whole lot better.
Why shouldn’t people keep working? Which genius decided that we get to retire at any age, let alone 65? Retirement isn’t exactly safe.
(Washington, DC 3/22) Yesterday we found out that President Barack Obama put Medicare and Social Security in the budget deal mix; timely but not thoughtful. Is this a profile in cowardice? Maybe not. Let’s give him the benefit of the doubt and assume that cutting these two programs is part of the Obama Money Party agenda. That’s the elegant explanation and explained below. (Image: Downing Street)
Here’s what Bloomberg reported (thanks to Lauren Hallahan’s list for the tip):
“President Barack Obama told Senate Democrats that they should be open to changes in entitlement programs to achieve a long-term budget deal, according to several lawmakers who attended a meeting with him on Capitol Hill today.” Bloomberg, March 21
Social Security does not contribute to the deficit. In fact, without the annual appropriation of Social Security funds , cash flow for the government would experience serious cash flow prolems. Each year, Treasury takes Social Security tax revenues to fund the general budget. Treasury leaves an IOU promising to repay beneficiaries down the road. The promise is guaranteed by the “full faith and credit of the United States of America.” Who would take the word of the (s)elected “crooks and liars” given all the betrayals we see on a regular basis?
(Washington, DC 1/21) A long standing Money Party front, the Business Roundtable, wants you to wait until you’re 70 years old before you get Social Security and Medicare benefits. This is just a reprise of the November 2012 dictate from the king of corporate cronyism, Goldman Sachs CEO Lloyd Blankfein. (Image: DonkeyHotey) (Greenspan statement)
The boss announced, “So there will be things that, you know, the retirement age has to be changed, maybe some of the benefits have to be affected, maybe some of the inflation adjustments have to be revised. But in general, entitlements have to be slowed down and contained.” Lloyd Blankfein, CBS News, November 2012
That’s easy for Lloyd to say. He makes tens of millions of dollars a year without so much as lifting a finger. You can be sure that Blankfein has a deluxe health insurance and retirement plan. Read More