A recent hearing sponsored by the Treasury and Labor
Departments marked the start of Obama's war on pensions. He wants public and private accounts eliminated.
Plans are in the talking stage. Policy measures come later. Obama's retirement trap will affect millions. They won't know what hit them until it's too late to matter.
The Bipartisan Policy Center (BPC) also recommended deep Medicare cuts, higher Part B premiums, big co-pays and outpatient fee increases, as well as establishing privately owned, lower-cost health insurance exchanges to gradually eliminate traditional Medicare. It also wants Medicaid funding cut.
Republicans and Democrats turn truth on its head. They say Medicare, Medicaid and Social Security are responsible for rising deficits and America's national debt burden.
They also bogusly claim Medicare and Social Security are going broke. When properly administered, both programs are sustainable long-term.
Modest adjustments and responsible healthcare costs containment assure their viability perhaps in perpetuity.
Money power runs America. It has other plans. Corporate bosses demand it. Whatever they want they get. They buy politicians like toothpaste. Popular needs are sacrificed to serve them.
Social justice are four-letter words. Prosperity for millions is fast disappearing. Much worse ahead is planned. Neoliberal/imperial priorities let essential public needs go begging.
Current hard times will get much harder. Eroding safety net protections assure millions more will be impoverished. They'll be on their own and out of luck.
Obama's legacy already exposes him as America's worst president. He exceeded formidable competitors. He fronts for Wall Street, war profiteers, and other corporate bosses.
He's setting race relations back decades. Analysts one day may wonder how he and likeminded hardliners defrauded the public irresponsibly and got away with it.
Around yearend or early next year, expect his latest installment. Holiday cheer Obama-style assures lump of coal harshness. Many millions affected deserve better. Disappointment awaits them. It's baked in the cake.
The 2011 Budget Control Act mandates $1.2 trillion in largely discretionary sequestered cuts for starters. Around $4 trillion over the next decade is planned.
Much more will be added in out years. Spending won't decline so deficits will keep rising exponentially. Neither party worries about them or debt. Saying so is doublespeak deception.
America's most disadvantaged, middle income earners, and seniors will bear most pain. Super-rich elites are largely protected. So are corporate favorites.