However, if you are not over 58 - you might need to start worrying about the power this bogus commission will have on your retirement.
Are you willing to recommend cuts to Social Security?
SIMPSON: We’re not going to cut Social Security—we’re going to stabilize it. None of the ideas that have been presented will affect anyone over age 58. But we’re going to make the system work. As it is, it can’t sustain itself.
Krugman wrote about this on the 21st on his blog, specifically what a liar Alan Simpson is.
So what does it mean that the co-chair of the commission is resurrecting this zombie lie? It means that at even the most basic level of discussion, either (a) he isn’t willing to deal in good faith or (b) the zombies have eaten his brain. And in either case, there’s no point going on with this farce.
Unfortunately they are going ahead with this farce and for some very odd reason at the very last minute Nancy Pelosi added an amendment that the recommendations must be voted on in the lame duck session in December of this year.
I really think the possible implications of these recommendations need to be discussed heavily BEFORE the November elections. Most of the attention has been paid to Alan Simpson so you would think his co-chairman would balance him somewhat - here is what Mr. Bowles said recently:
BOWLES: We have two charges: to reduce the deficit by $240 billion a year by 2015 and to deal with entitlements for the long-term fiscal health of the country. We’re looking at how we can reduce discretionary spending—things like education, transportation, the military, homeland security—and mandatory spending, which includes Social Security, Medicare, and Medicaid. We also need to raise revenue.
SIMPSON: No one’s out to get the lesser in society, but there won’t be anything for them unless we get a handle on Medicare and Medicaid.
The only items in the above list that should even be allowed to be cut would be military spending. We need to stay ahead of this and be proactive before it is even close to coming up for a vote.
Update: My first time ever on the rec list! Thanks and to quote Barney Fife..."let's nip it in the bud" and ask our candidates about this before November.
Update II: StepLeftStepForward made a good suggestion that I update with the commission's email address. It is:
commission@fc.eop.gov
Please consider emailing not only your congress critters but the commission as well in order to let them know your position on how best to tackle deficit reductions without sacrificing our greatest social safety net.