NOW members have spoken loud and clear: they want Fiscal Commission Co-Chair Alan Simpson out – and NOW President Terry O’Neill is ready to send him home with 1,500 baby bottle nipples.

By

Marshall Auerback

Hint: it’s not Republicans.

Social Security remains one of the greatest achievements of the Democratic Party since its creation 75 years ago. Although Republicans have historically fulminated against the program (Ronald Reagan once likened it as something akin to “socialism”), they have actually made little headway in touching this sacred “third rail” in American politics. President Bush pushed for partial privatization of the program in 2005, but the proposal gained no policy traction (even within his own party) because Social Security continues to be hugely popular with American voters. It’s a universal program that benefits all Americans, not a government handout to a few privileged corporations.

Today, Dean Baker questioned the sanity of The Washington Post, after its editorial staff once again came out for cuts in Social Security to avert a crisis which will not be manifest until 2037. In reply to the Post’s observation that this year is the first in which the Social Security program will pay out more than it takes in, and that this is a warning sign, Dean points out that it:

. . . certainly is a warning sign. The falloff in Social Security tax revenue is a warning that the economy is seriously depressed due to the collapse of the housing bubble. Double digit unemployment leads to all sorts of problems, including the strains that it places on pension funds like Social Security.

He then goes on to criticize the Post for not advocating the urgency of the need to get back to full employment to solve any pending shortfall in Social Security, and for advocating instead for possible Fiscal Commission–recommended “balanced” measures, including Social Security spending cuts to be implemented gradually to avert the projected 2037 crisis.

Dean then advocates that we reject this recommendation and wait to act. He says:

Andy Stern and Dean Baker advocate investment of Social Security Funds in the stock market. That’s a terrible idea, and we can’t let it happen.

Jamie Galbraith on how he views the catfood commission.

The United States can be fiscally responsible and meet the urgent necessities of the American people by stopping corporate welfare to concentrated industries, taxing the wealthiest that profited from three decades of tax breaks and reigning in weapons and war spending. Expanding Medicare to cover all Americans will save money and improve health. And, Social Security is essential to most Americans and is a contract between the government and the people that should not be broken.

James K. Galbraith, in his own words, about his brilliant, blistering testimony to Obama’s Fiscal Commission.

Solvency is not the issue on Social Security. Reforming the rules for the most vulnerable is.

OWL members along with MoveOn.org members rallied nationwide this weekend outside of AmericaSpeaks events to protect Social Security.

This is the fifth installment of Social Security Works’ weekly livestream of the Closed Door Debt Commission. The best action is around 9:15am and 11:30am, right as members of the commission are entering and leaving.