James Galbraith, Lloyd M. Bentsen, Jr. Chair in Gov't/ Business Relations, Lyndon B. Johnson School of Public Affairs, Universityof Texas at Austin;Gerald W. McEntee, President American Federation of State, County and Municipal Employees
The Simpson-Bowles deficit reduction Commission established by the President, will deliver an attack on Social Security & Medicare dressed up in sanctimonious rhetoric of deficit reduction. The Obama spending freeze is another sacrifice to the deficit gods. But, the deficit phobia of Wall St., the press, some economists and practically all politicians is one of the deepest dangers that we face. It's not just the old and the sick who are threatened; we all are. To cut federal budget deficits w/o first rebuilding the economy is a sure path to stagnation, to a double-dip recession--even to a second Great Depression. Plus AFSCME Pres. McEntee introduces a new reality show - "It's Time to Play "Social Security Survivor"
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