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Obama Team's Deficit Cutting Proposal: Benefit the Few, Harm the Many

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At the Seoul, South Korea G-20 summit, Obama asked Democrat party leaders to hold off criticizing necessary "tough choices," adding:

"Before anybody starts shooting down proposals, we need to listen, gather up all the facts, and be straight with the American people." What, in fact, he hasn't done on all administration policies since taking office, nor is he doing now, proposing enormous harm to working Americans, while showering benefits on corporate favorites, bankers most of all. Wall Street, in fact, is spending millions of dollars promoting NCFRF's proposal.

AFL-CIO president Richard Trumka, hardly a legitimate rank and file supporter, said the proposal amounts to telling "working Americans to 'Drop Dead'. Especially in these tough economic times, it is unconscionable to be proposing cuts to the critical economic lifelines for working people, Social Security and Medicare."

Even the conservative Americans for Tax Reform expressed criticism, saying:

"It confirms what everyone has known - this commission is merely an excuse to raise net taxes on the American people," ordinary ones, that is.

If approved, in whole or in part, proposed changes will become effective in 2012. Deficit hawks want it accomplished before the 112th Congress convenes in January. Public anger is needed to stop it, a thinly veiled scheme to take from the many for the few, the administration very supportive. Rhetoric aside, coming debate will determine whether congressional Democrats concur. At this point, it's not a done deal. Clearly, however, political sentiment favors cuts on the backs of those least able to afford or contest them, ordinary people always betrayed, Obama again proving more ruthless than Bush.

The Myth of the Social Security Crisis

Ending it is ultimately planned, preceded by benefit cuts and privatization, a scheme based on bogusly claiming future insolvency if remedial action isn't taken. In fact, Social Security sound and secure, the most conservative projections showing all scheduled benefits can be paid for the next 27 years with no structural changes. Saying it's going broke is a lie. Using that excuse for Medicare is another canard. Both programs are fiscally sound if properly administered.

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Even by 2100, retiree benefits will be double what current recipients get, with minor or no remedial adjustments. Media reports, however, say otherwise, calling the system in crisis when none whatever exists. For decades, it's been the single most important program keeping seniors and the disabled out of poverty. Eroding or destroying benefits will be catastrophic. That's precisely what's planned, however, Obama in tow with Wall Street, betraying the people who elected him, this among many other ways.

If ever a Social Security fix is needed, a simple solution exists. Remove the payroll tax ceiling, taxing all earned income at the same rate. Doing it will dispel insolvency arguments. Improved fairness will also result for a program designed as social insurance, not welfare, as is Medicare, both programs funded by employer/employee payroll tax deductions.

Another equitable solution is also avoided - overhauling the dysfunctional tax system, replacing it with a progressive one, making high earners pay their fair share instead of getting a free ride like today.

Robin Hood Economics

At issue, is ending all social benefits, including Social Security, Medicare and Medicaid, returning America to pre-New Deal days with everyone on their own to survive. At the same time, military budgets keep rising. Greater wealth disparity is planned, and repressive crackdowns will target resisters, both parties committed to regressive changes, no end to imperial harshness, and channeling the nation's resources unfairly, benefitting the few, not the many.

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A Final Comment

Whatever National Commission on Fiscal Responsibility and Reform (NCFRF) proposals are adopted, more are coming, including from a lesser known group - the Bipartisan Policy Center (BPC) headed by former Senator Pete Domenici (R. NM) and Alice Rivlin, former Congressional Budget Office director and Clinton Director of the Office of Management and Budget.

Established in 2007 by former Senators Howard Baker (R. TN), Tom Daschle (D. SD), Bob Dole (R. KS), and George Mitchell (D. ME), it aims "to develop and promote solutions....that make sense for the nation and can be embraced by both sides of the aisle." Its focused issues include national and homeland security, financial services, transportation, and reducing the nation's deficit. Its recommended spending cuts will be proposed, complementing NCFRF's with more draconian ones, underscoring fear to get them enacted.

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

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We are entitled to entitlement programs like Socia... by Linda Ross on Friday, Nov 12, 2010 at 9:14:33 AM
I know what you were implying, but you should not ... by Blaine Kinsey on Friday, Nov 12, 2010 at 10:11:08 AM
I guess it is only considered "socialism" when the... by Dennis Kaiser on Friday, Nov 12, 2010 at 1:12:38 PM
I gave a variation on the following commentary on ... by Stewart Wechsler on Friday, Nov 12, 2010 at 2:33:38 PM
Do retired military personnel get Social Security,... by bruce powell on Friday, Nov 12, 2010 at 3:46:18 PM
The Redcoats are coming the Redcoats are ... by Markageloo Breza on Friday, Nov 12, 2010 at 8:58:53 PM
I agree with much of what Mr. Lendman says, with t... by John Peebles on Friday, Nov 12, 2010 at 11:24:55 PM
That's a silly idea, this deficit in SS thing. The... by phidipidese on Saturday, Nov 13, 2010 at 12:56:57 AM
Many Dumocrats have continually defended Obama as ... by liberalsrock on Saturday, Nov 13, 2010 at 10:41:34 AM
... by Matthew Peters on Saturday, Nov 13, 2010 at 12:11:57 PM
The National Commission on Fiscal Responsibility a... by Paul Karsh on Sunday, Nov 14, 2010 at 10:13:11 PM