social security

While Social Security is Under Attack, Billions are Lost in Afghanistan

Submitted by on

shrink wrapped dollars iraq
This is just an amazing insult to the U.S. middle class and tax payer. While our social security is being decimated under the Congressional and Administration made debt ceiling crisis, a new report shows the United States is losing billions in Afghanistan. Literally the money disappears.

The Special Inspector General for Afghanistan Reconstruction released an audit that shows, literally, our U.S. tax dollars are disappearing and probably into the hands of those who are trying to kill us.

efforts to safeguard U.S. cash entering the Afghan economy and to develop the Afghan financial sector have been hampered by limited interagency coordination, inconsistent Afghan cooperation and insufficient cash controls.

SIGAR found that U.S. agencies have limited visibility over U.S. cash that enters the Afghan economy -- leaving it vulnerable to fraud and diversion to the insurgency. SIGAR also found that poor cooperation by the Afghan government has impeded U.S. efforts to help develop the Afghan financial sector.

Screwing America Under the Cover of Deficit Reductions

Submitted by on

The validity of the public debt of the United States... shall not be questioned

catfood.jpg
Except when one wants to screw over Americans by cutting social safety nets under the guise of a debt ceiling crisis.

After Congress and the Obama administration ranted and raved for months and under the cover of non-stories like Casey Anthony, we have Obama is putting social security, medicare and social safety nets up on the faux pas debt ceiling negotiation block, to be cut and slashed.

After putting controversial cuts to Social Security and Medicare on the table in negotiations with congressional Republicans over a plan to raise the nation's debt ceiling, President Obama still doesn't have a deal in the works. Emerging from a meeting with congressional leaders on Thursday, Obama said that both sides in the negotiations would find the ultimate outcome "painful." He also explained that the two sides had not yet arrived at an accord, but would reconvene talks on Sunday.

"I want to emphasize that nothing is agreed to until everything is agreed to," Obama said, adding that the talks were conducted "in a spirit of compromise" but that the parties "are still far apart on a wide range of issues."

Volcker Resigns and Goldman Sachs Moves In

Submitted by on

corp alliance pledge
The Obama administration is having a shake up. Former Federal Reseve Chief Paul Volcker is quitting. His final act? Trying to get real financial reform, known as the Volcker Rule and was beaten down at every turn.

Now here comes Goldman Sachs and JPMorgan Chase, straight into the White House.

Gene Sperling, a former Goldman Sachs consultant and more infamous, architect for many of the current consequences our economy is suffering, laid down in the Clinton administration, is slated to replace the equally corporate driven Larry Summers for the top economic adviser spot.

Even Time Magazine calls Sperling Obama's corporate Ambassador and Dean Baker suspects Sperling thinks asset bubbles are cool:

The primary issue is not that Sperling got $900,000 from Goldman Sachs for part-time work, although that does look bad. The primary issue is that Sperling thought, and may still think, that the policies that laid the basis for the economic collapse were just fine.

Killing Social Security

On Monday, December 13, the US Senate will vote on a bill that represents the destruction of Social Security. The measure reduces the employee payroll tax by 33% (from 6.2 to 4.2%). Social Security is in good shape right now but this reduction will starve the Trust Fund and give the excuse to say - "Look, it's broke. We have to privatize it."

Save Social Security - call or write your US Senators and tell them to vote no on reducing funding for Social Security - period. No compromises at all.

United States Senate Email/Web and Phone contact.

UPDATE: The Senate passed a cloture resolution limiting debate on the presidents proposal (aka sell out) to give millionaires huge tax breaks and hammer the people by putting Social Security at risk. That assures passage of the legislation in the Senate. Sen. Bernie Sanders has a Show Filibuster last Friday but it wasn't for real. Today - before the "cloture vote" - would have been the time. Bernie benched himself and his gal pal, Sen. Mary Landrieu, who helped last Friday, said that filibuster was only for the tax cuts for millionaires, not the entire package." We are nothing to them.

Michael Collins

We are at a unique moment in our history. The decadence of those in charge has reached menacing proportions.

(Washington, Dec 10) Bill Clinton showed up at the White House for an "impromptu" press conference to discuss the president's tax compromise with the Republicans. Clinton disclosed that "I make a lot of money now" and, as a result, he would benefit from the program. Then he endorsed the compromise calling it the best deal Obama could make. Clinton was particularly high on the Social Security payroll tax reduction. "According to all economic analysis, [this is] the single most effective tax cut you can do to support economic activity. This will actually create a fair number of jobs. I expect it to lower the unemployment rate and keep us going." (Image)

Across town, United States Senator Bernie Sanders was telling the simple truth that Obama and Clinton avoided.

Fiscal Policy By Dummies: Looking at the Deficit Plans from a Progressive Standpoint

Note: this is a cross-post from The Realignment Project. Follow us on Facebook!

 

Introduction:

Following the on-going drama of the Deficit Commission - which just adjourned without even voting on its own proposal, and which never came close to getting the necessary votes to trigger an up-or-down vote in the Senate - has been rather painful. Especially in light of the Republican takeover of the House and the ongoing dispute over extending the Bush tax cuts and raising the debt ceiling, the grip of austerity thinking seems paradoxically strong and weak at the same time, pervasive enough to be omnipresent within the media yet not actually persuasive enough to get anyone to vote for anything they dislike.

However, there is one point that needs to be cleared up - behind the banalities of "living within our means" and other balanced-budget platitudes, there is ideology at work. The budget is not just a technical issue, but a moral document - it is a choice between a high road or a low road to the future.

The Money Party Deficit Reduction Scam and Social Security

Michael Collins

President Obama announced the new National Commission on Fiscal Responsibility and Reform on February 18 to address astronomical federal budget deficits. There has been considerable speculation that this commission will target current and future benefits for Social Security recipients to achieve its goals.

Why would this be the case? We need look no further than the treatment of major retirement funds over the past 20 years to get the answer. When the mob needed cash, it looted the Teamsters retirement fund. When large corporations or government entities get in trouble, they effectively borrow from their employee retirement funds by delaying required payments or otherwise gaming the programs. This provides a source of ready cash, a quick vehicle to cover management errors, or jack up their bonuses.

Think of the Social Security Trust Fund (trust fund) as the most lucrative retirement fund in the country, the ultimate pot of gold, and you'll immediately understand why it is that for decades, big business has plundered the trust fund. How does this happen?

The Biggest Retirement Fund Rip Off Ever

Pages