Friday, April 05, 2013

It's Official: Obama Wants cuts to Social Security AND Medicare

As Naked Capitalism points out (addressing the O-bots, no doubt), no more pretense is possible. Not that some of us were pretending - we've seen corporatist sell-out Obummer coming from a mile away, and have not been fooled as to what his real intentions were. But now it's out in the open for all to see. The ridiculous party line-toting dims have nothing to hide behind, no whiny excuses to explain Obama's behavior. This is all on him.

Social Security has nothing to do with the deficit. It doesn't add one penny to the deficit. But that's not stopping Obama. According to figures released by the AARP, “A typical 80-year-old woman will lose the equivalent of 3 months worth of food annually. The greatest impact of Chained CPI would fall on the oldest, eventually resulting in a cut of one full month’s benefit annually.  This dramatic benefit cut would push thousands more into poverty and result in increased economic hardship for those trying desperately to keep up with rising prices.”

From Naked Capitalism:

Now It’s Official: Obama Sells Catfood Futures, Um, Social Security and Medicare Cuts

There is no more pretense possible. As we’ve warned for some time, Obama is eager to put a notch on his belt by being the President that rolled back the New Deal programs that helped create broad-based middle-class prosperity and dignity. He’s cast himself as an adult inflicting discipline on profligate Americans. But in reality, the profligacy was most concentrated among elite financiers who used leverage on leverage vehicles to stoke liquidity that led to worldwide underpricing of risk. They paid themselves record bonuses in the years immediately preceding the crisis, and then in a grotesque display of ingratitude, did so again in 2009, able to do so only thanks to massive taxpayer support, alphabet-soup special borrowing programs, and the tax on savers known as ZIRP. And the direct result of their looting exercise that produced the crisis was the explosion in government deficits, due to a collapse in tax revenues and a rise in payments under countercyclical programs such as unemployment insurance and food stamps.

But are the real perps the object of Obama’s disciplinary impulses? No. He seems spectacularly unwilling to take on anyone even remotely approaching his size (as if a President should be cowed by senior banker bullies like Jamie Dimon). The President’s failure to reprimand the financial CEOs who dissed him by refusing to attend his address on the first year anniversary of Lehman was a tacit acknowledgement that they were really in the driver’s seat.

Keep in mind what is happening here. We are not in the realm of Obama kayfabe, where he pretends that those big bad Republicans forced him to do what he wanted to do all along. This is Obama’s budget offer, not the result of pretend hard fought battles over positions that are at most 10 degrees apart.... Read more here.


Blogger Father Tyme said...

Remember when KKKarl said he was out to insure a one party country? We didn't realize at the time a pseudo Democrat would be the one to finalize that malignant plan...and to do it with such gusto from two sides of his face.

7:51 PM  
Blogger Anna Van Z said...

No doubt! Obummer is the DINO to end all DINOs. In fact probably half of the current dims are DINOs.

I feel sorry for the few remaining legislators that actually have some integrity, like Alan Grayson - their workplace must be very alienating.

8:23 PM  

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