Thought for the day is that we have moved, in the space of just 10 years, from a Democratic Presidential candidate who wanted to put social security into a "lock box" to an actual Democratic President and his Treasury Secretary who are willing actually to raid the same social security funds for "stimulus".
There are other choices. With the multiplier on tax cuts probably zero, because consumers are paying down debt as fast as they can, almost all of the other choices look better.
And, given choices, I don't think the public would like to be told that they have to work longer, now, too, because of Wall Street's malfeasance, while we pass out an incredibly generous estate tax and tax cuts for the highest earners.
No one actually put the question to them that way. What we heard, after the midterms, is that "Obama didn't get the message". What? That we have to raid social security, in order to have economic stimulus? Pft.
And, it's even worse, because Obama-Geithner have opened up a serious rift with the Democratic caucus on the Hill, right at the time when he arguably needs solidarity, as the GOP tries to buy-off and pick-off Senators to get their agenda items done in the next two years.
Wednesday, December 8, 2010
Obama-Geithner to Sanctimonious Left: Okay to Raid Social Security Trust Fund
