Why commentators would exult
at high unemployment and lower wages is beyond me. Then again, I can see why
the most successful anti-poverty program in the history of this country could
endear starve-the-beasts commentators to an opportunity to undermine it.
The country was pushed into recession by a credit crisis caused by reckless Wall Street firms’ thirst for short-term paper-profits. At a time of disappearing 401(k) plans, Social Security is providing Americans with the one source of secure retirement benefits. American workers earned these benefits through their work and lifetime contributions. It’s unclear to me how draconian benefit cuts in Social Security can possibly be used to justify shoring up a budget deficit caused by unregulated derivatives and tax entitlements for the few.
The views expressed in this blog do not represent the views or opinions of Generations United.