Happy Birthday Social Security
73 years ago today, FDR signed the law that created the Social Security program. This pay-as-you-go (as designed, where younger workers pay for the older ones) program has been not only one of the most popular, but also one of the most effective programs in the history of the US. John McCain thinks that it is a disgrace:
[youtube]http://www.youtube.com/watch?v=ugN8Rn5baqM[/youtube]
McCain, of course, will want to continue the Social Security privatization mumbo jumbo throughout the rest of this campaign. This mumbo jumbo simply extends the failed arguments from BushCo, claiming that the system is bankrupt ( it isn’t — it is solvent at least through 2050 or so and only privatization would save everyone’s retirement. Ignoring who stands to immediately benefit from these private accounts, who else gets off of the hook? The President and Congress (and it doesn’t matter which party) who no longer have to figure out how to payback the IOUs that represent the current surplus in the Social Security system. Think about that for a second — the system is now in surplus, but everywhere you go, repubs are screaming about how broken Social Security is, doing their usual ramping up of anxiety play. In the meantime, Medicare is in imminent danger and there seems to be little urgency to fix that. Both of these programs loom very large in the fiscal future of the country, but so does out of control DoD spending. The difference is that Social Security currently pays for itself while the DoD does not.
Michael Tomasky reminds us of Dwight Eisenhower’s assessment of the politics of getting rid of Social Security:
Should any political party attempt to abolish social security, unemployment insurance, and eliminate labor laws and farm programs, you would not hear of that party again in our political history. There is a tiny splinter group, of course, that believes that you can do these things. Among them are a few Texas oil millionaires, and an occasional politician or businessman from other areas. Their number is negligible and they are stupid.
But as Tomasky notes, their number is no longer negligible and they consider all of us to be stupid. But as Roosevelt’s grandson reminds us today:
“Our Social Security isn’t a disgrace; it’s a compact, a trust between generations of Americans. It’s a reflection of our values. On the 70th anniversary of Social Security, Americans stood together and said no to George Bush’s attempt to privatize Social Security. On this anniversary, let’s make sure John McCain hears the same message. Tell John McCain to keep his hands off of our Social Security.”
What’s also disturbing is McCain has picked up Bush’s Unitary Executive style of speaking: “What you have got to understand…” “Americans have got to understand…”
Hear that? It’s the same warped psychology.
How condescending. How presumptuous. How elitist. Like he assumes we don’t understand. Like he is the one that is gonna learn us.
Fuck him.
Well there’s my quote of the day. Thanks for the blog fodder.
Mike Castle and John McCain are so old, their social security numbers are 9 and 14.
They also fart dust. 🙂
I’m no fan of John McCain, but to be fair, that video is a little dishonest. It merely offers the prelude to McCain’s arguement that I’m sure he makes after he says, “and heres how we’re going to fix it”.
We wouldn’t appreciate it if Obama’s words were picked out without context, so we shouldn’t make it acceptable by doing the same thing to McCain.
Que – you haven’t been here long enough. The DE Liberal folks believe it’s only wrong if the evil republicans do it. If Clinton, Obama, or some liberal does the same thing it’s perfectly acceptable.
Perhaps, but where you and I would differ is that after McCain spoke I’m sure I would have bashed his comments. I just want to bash them honestly, not with such blantant disregard to context and setting.
This pay-as-you-go (as designed, where younger workers pay for the older ones) program has been not only one of the most popular, but also one of the most effective programs in the history of the US.
And one of the most expensive. And, btw, Democrats screamed that S.S. was going off the rails when Bill Clinton was running for president. Funny, S.S. was just fine as soon as the opposition was in power. See, the point about Social Security is not to let your opponent get credit for fixing it.
Mike Castle and John McCain are so old, their social security numbers are 9 and 14.
And they are on black cards with raised white letters….
Que Che — I can’t beleive that this is the firs time you’ve actually seen this video. The point of the clip is, frankly to note that McCain doesn’t quite understand that this program works the way it is supposed to. But, You Tube is your friend (but not much more elucidating):
McCain’s Disgrace
But the point remains that Social Security still self-funds and is self-funded through 2050 or so, but they continue to try to scare folks into thinking that it is in danger of disappearing. Expensive or no, this program only pays out what it takes in — unlike the rest of the Government.
– Wonderful, It’s solvent through 2050 – that just makes me feel all warm and fussy.
The .Gov takes my money ( a good chunk from each paycheck) and keeps it for me until I’m almost dead with an IOU and a promise that I “might” get back a portion of what I put in. That’s the shittiest investment plan I’ve ever heard of.
The Gov. is basically taking MY money and pissing it away. I couldn’t possibly mismanage it worse than they do.
I’ve written in detail on this very subject before.
http://anothergunblog.blogspot.com/2008/01/id-love-it-if-this-happened-social.html