William Greider on the Looting of Social Security

The resounding defeat of George W. Bush's effort to privatize Social Security in 2005 seemed to be the end of attacks against the program. However, William Greider argues that Wall Street interests are leading a new round of threats to Social Security in a plan to use money from the program to recover the costs of bailing out banks. Although President Obama has indicated support for Social Security in the past, Greider argues that progressives need to exert pressure and educate the public about its solvency in order to counteract the efforts of private interests pushing for a compromise.

To learn more about Greider's argument read his article in The Nation: http://www.thenation.com/doc/20090302/greider

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• William Greider
• the nation
• brett story
• social security
• obama
• us economy

[KLECTECH]

I got laid off last June so decided to start pulling SS at 65 (which I turned in Jan) instead of working for a few more years. Back in 1950, when my parents started explaining this stuff to me, I figured the whole program out as a giant Ponzi scheme...and I think I was right!

[joecollins7778]

If you think Social Security is a good idea then you must be nieve enough to think that there is actually a Social Security Trust Fund. Yes...there is a shell called the SSTF within the government but there is no funds in it. There is a pile of T-Bill's from the so-called investments. Who recieved the money and is supposed to be paying this intererst? The U.S. Treasury. If you haven't noticed... the US Treasury is $12.9 Trillion in Debt. You expect the broke Treasury to pay back the SSFT?

[ianhowe007]

Free market? What happens when you buy the planet.

[xmenrus]

@valtal Free Market Economy? Obamamama just took over the auto industry, gave 100's of $billions to the Labor Unions that cheated to put him in office, has set marxixt/leninest in government reporting to him directly bypassing congress AND OBAMAMA helped the BANKSTERS suck $TRILLIONS out of the economy increasing the national debt to $13Trillion and rising. This is the definition of FACISM not a free market. You are a fool! OBAMAMAMA loves you!

[valtal]

@xmenrus What da fuck are you talking about....This is a free market economy and SOCIAL SECURITY MONEY BELONG TO THE PEOPLE THAT PUT IT THERE no to rich azzholes ....Lets get our money back ....

[valtal]

@silentsoliloquy82 We the people in USA need to get back EVERY FUCKING PENNY that they have STOLE FROM SOCIAL SECURITY lets freeze and confiscate every mother fker that have smell a penny that ONLY BELONG TO THE CITIZENS OF USA

[nalc892]

With all respect to cypherphage, he or she is running their flag on the wrong flagpole. There are some government programs that can be killed right now and save tons of money. Let's us start with these unnecessary and sorry-assed wars that Bush started and Obama continues. Or the Bush tax cuts, set to expire in 2011? Why not end these suspension bridges to nowhere right now? I hope that I did not offend any suspension bridge builders with that remark.

[silentsoliloquy82]

Agreed, they need to keep their greedy paws off the Social Security. So many disabled, retired, and eldery depend upon it.

[kodykodyoneill]

Nice work. keep it up. mean time come for social media marketing for esteembpo**com bhgf

[KLECTECH]

Yes, like the Kennedy clan gained its initial wealth from bootlegging.

[xmenrus]

Mr. Tech: You understand the problem. It was sold by Roosevelt as an 'annuity'...lies, lies, lies!!! Roosevelt was the worst thing that happened to this country in 200 years. By the way, his family fortune came from his grandfather, Warren Delano who was an opium runner into China that brought down the ruling dynasty of that nation and set industrialization back by 100 years. "Behind every great fortune there is a great crime": Honore de Balzac.