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View Diary: Take Social Security off the table (159 comments)

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  •  You and I and most of DK agree to that (1+ / 0-)
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    YucatanMan

    but I'm not so sure Obama and his opportunistic economic advisers do.

    I think the trouble they see is that there has been so much borrowing from Social Security, they see no way to pay it back. That's where Al Gore's discussion of the "lock box" is so important. Most of the debt the US owes is to Social Security and to bond buyers. I think they want to cut short what is owed the American people by, in effect, cancelling that debt by raising the age of retirement and as Matt Bai says cutting what has become traditional in Social Security, that is, raising what each retiree or disabled person receives according to the cost of living (inflationary) increases. So the Democrats willing to cut this deal with Republicans who love it, in principle, can make cuts without drawing blood that people can see. I think it's a terrible idea and Obama should go back to the drawing board about this.

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