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Edited on Fri Nov-09-07 05:06 PM by JDPriestly
If they are lucky, they have managed to save slightly more than they owe. A lot of the "wealth" of ordinary baby boomers is in their homes -- and we all know what is happening to the value of homes right now.
Most baby boomers will have to rely on Social Security. And, as it is, Social Security payments barely pay enough to allow a subsistence living standard. Cutting Social Security benefits is off the table. The American people are not going to let their parents starve or freeze to death in the winter. Cutting Social Security benefits will not work because cuts in Social Security benefits will have to be made good out of ordinary tax revenues.
Privatization is not the answer. The point of Social Security is that payments do not depend on the ups and downs of the stock market. Besides, privatization of Social Security has been tried in other countries and has not worked particularly well. It just shifts the problem. It does not resolve it.
Edwards' plan for "fixing" Social Security is the best: just tax all income except for a certain amount of the income of two-family earners in a limited middle class income bracket.
Clinton's dream of coming together with Republicans to work out a solution for Social Security is unrealistic. The Republicans of the Bush generation are extremist. They dogmatically revere the economic theories of the Chicago School of Economics. Naomi Klein writes about those economic theories and the horrors that the disciples of the Chicago School have visited on developing countries in which they have reorganized the economies. Think Chile in the 1970s, Argentina in the early '80s, etc.
John Edwards' statement that you can't sit at the table with these right-wing fanatics in big business is based on his many years of negotiating settlements with corporations and insurance companies. He knows that these guys are not the friends of middle class Americans. We Democrats have to learn to fight for ordinary Americans. We have to use the stick as well as the carrot when dealing with the right-wing extremists. If you think the Republicans can be dealt with, name one Republican congressman or woman who will consistently vote against Bush and in favor of policies that help middle-class America. You can't. Moderate Republicans do not get elected. There is no such thing in Congress at this time.
If you are disappointed with the results of the Pelosi/Reid approach, the Mukaseys, the "amended" FISA bills, the "aw shucks, we wouldn't want to hurt their feelings" approach to working with Republican fanatics, vote for Hillary. As the statement you cite proves, a vote for Hillary is a vote for more of the Pelosi/Reid soft-sell approach.
Personally, I prefer Edwards' honest appraisal of the situation. We need a president who knows what he stands for and who will not accept less than what the American people need and deserve. We will not be able to "come together" with Republicans until we show them who is boss. You don't "come together" with a two-year-old who is holding a knife and throwing a tantrum, and that is what the Republicans have been doing for years now. Hillary's approach is wrong. If you vote for her, you are in for a huge disappointment.
I know the Hillary devotees are going to be very offended by my post. I'll be accused of picking on Hillary. But, I'm old, and I've seen a lot of the world. I promise you. If Hillary is nominated and by some lucky chance elected, her approach will fail, and I'm going to be here on DU, reminding you that I told you all so.
Hillary's approach to Social Security is either dishonest or naive.
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