Blog on the Run: Reloaded

Friday, June 7, 2013 5:01 am

Matt Yglesias gets shrill. And real.

We’ve heard a lot of bullshit these past several years about Social Security, so as an antitoxin, here’s Matt Yglesias:

The Powers That Be hate Social Security and always will because it’s a program whose entire purpose is to pay people money not to work. That’s not a perverse consequence of Social Security. It’s not a contentious partisan claim about Social Security. It’s not a dubious interpretation of what Social Security is all about. That’s the point. It’s to give people money so they can retire with dignity. “Retire” being a fancy word for “not working.” You’re never ever going to persuade business leaders to stop agitating for cuts in a program that has this feature. Business leaders want people to work! At a minimum, if people are hoping to not work, business leaders are going to want people to save (i.e., loan funds to business leaders) in order to achieve that purpose. Taxing people who are working in order to pay money so that people can enjoy retired life in peace is the antithesis of everything business elites want out of public policy.

And guess what we haven’t done during this era of changing projections? We haven’t cut Social Security benefits. We haven’t raised the age at which people become eligible for Medicare. We’ve done things to reduce budget deficits, in other words, but we haven’t really acted to make it tougher for people to retire. But people don’t like to say they want to make it hard for people to retire so instead they talk about “the deficit,” and they’re not going to stop.

The Powers that Be have had their way for way too long. I think it’s time that the rest of America slapped them and told them to shut their whore mouths.

 

Monday, November 12, 2012 7:21 pm

Repeat after me, kids: There. Is. No. Fiscal. Cliff.

The Washington Post continues to lie, and economist Dean Baker, bless him, continues to call them out on it. Logic having failed, he now turns to mockery:

The Washington Post is throwing all journalistic norms aside in its drive to cut Social Security and Medicare. It continues to hype the budget standoff as an ominous “fiscal cliff” and tells readers on the front page of its web site that it could provide a “magic moment” in which Social Security and Medicare can be cut. The piece begins by telling readers:

“Two years ago this month, the leaders of a presidential commission rolled out a startling plan to dig the nation out of debt. After decades of stagnating incomes, they said, Washington must tell people to work longer, pay higher taxes and expect less in retirement.”

Okay I tricked you, this is the Washington Post which doesn’t acknowledge economic realities like stagnating income. The piece actually began:

“Two years ago this month, the leaders of a presidential commission rolled out a startling plan to dig the nation out of debt. After decades of profligacy, they said, Washington must tell people to work longer, pay higher taxes and expect less in retirement (emphasis added).”

This departure from reality gives you the gist of the story. The piece continues:

“Lawmakers recoiled from the blunt prescriptions of Democrat Erskine Bowles and Republican Alan K. Simpson. But their plan has since been heralded by both parties as a model of clear-eyed sacrifice, and policymakers say the moment has come to live up to its promise.”

Well, yes people have praised their plan. They have also ridiculed it. For example it proposes immediate cuts in Social Security benefits that would be a larger share of the income of the typical beneficiary than President Obama’s proposed tax increases on the top 2 percent would be for most of the affected taxpayers. It also proposes increasing the age for Medicare eligibility, even though this would add tens of billions to the country’s health care costs over the next decade. And, it proposed a minimum Social Security benefit for low wage earners that few low wage earners would actually qualify for due to the number of working years required to qualify.

You  know what the worst thing will be to happen immediately if we don’t have a new deal by Jan. 1? Very rich people will start having to pay a little more in income taxes. Quelle horror.

Also, everyone just needs to shut up about Erskine Bowles being some kind of selfless patriot and/or competent leader. As White House chief of staff, he made Bill Clinton’s affair with Monica Lewinsky possible (not that Clinton wasn’t a Grade A horndog, but you don’t give people like that lots of free time if you expect them to lead the nation without embarrassment). The guy’s an investment banker. He personally will profit a great deal from any kind of austerity deal, as will the investment bank on whose board he sits. Also? Obama is expected to get 60 votes in the Senate to get anything done, a situation the Framers never intended, and Bowles couldn’t even get 14 votes for his own plan from a committee that was named after him. I think that tells you just about all you need to know.

Wednesday, May 5, 2010 12:22 am

President Obama: Taking a page from the Dick Cheney playbook

Remember the complete transparency Obama promised us regarding the Simpson-Bowles deficit-reduction commission being co-chaired by North Carolina’s Erskine Bowles? Well, that’s OK, neither does Obama.

Hell’s bells. First, they take a congressional duty and shuffle it off to an unaccountable commission, then they let the commission’s real work be done in secret and then dumped on a lame-duck Congress for an up-or-down vote. I’m sure the interests of the middle and working classes will be perfectly well protected under that scenario. I mean, what could possibly go wrong?

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