(Community Matters) No surprise to anyone who realizes Bush/Cheney intentionally manufactured these deficits with Nordquist’s advice on the two rounds of tax cuts. Whether through supply side or vodoo economics, they’ve long angled to shrink government and the Ayn Rand crowd (think Paul Ryan) to dismantle %/or substantially scale back social security and medicare.
Krugman: The Geezers Are All Right [re: Social Security} The risk is that we might, at some point in the future, have to cut benefits; to avoid this risk of future benefit cuts, we are supposed to act pre-emptively by…cutting future benefits. What problem, exactly, are we solving here?
The truth is that the long-term outlook for Social Security and Medicare, while not great, actually isn’t all that bad. It’s time to stop obsessing about how we’ll pay benefits to retirees in 2035 and focus instead on how we’re going to provide jobs to unemployed Americans in the here and now.